Second Wave of COVID-19 Triggers Relaxations 2.0

corplaw@vinodkothari.com

In order to ensure that companies remain compliant during ongoing relapse of COVID-19 pandemic, several temporary measures have been introduced by the Capital Markets Regulator w.r.t compliance under LODR regulations.

The measures announced will support companies and other industrial bodies to function and meet the timelines in the period of lockdown.

The list of all the relevant circulars in this regard, recapitulating the requirement of law, original timelines and the relaxations granted by the SEBI are summarized below:

Sr.

No.

Regulation /Circular Particulars Requirement/Frequency of filing Original Due Date Extended Date

Entities with its specified securities listed[1]

1 24A Annual Secretarial Compliance Report Sixty  days  from end of the financial yea May 30, 2021 June 30, 2021
2 33(3) Financial Results 45 days from the end of the quarter for quarterly results May 15, 2021 June 30, 2021
60 days from the end of Financial Year for Annual Financial Results May 30, 2021
3 32 read with circular dated December 24, 2019 Statement of Deviation or variations in use of funds 45 days from the end of the quarter for quarterly results May 15, 2021 June 30, 2021
60 days from the end of Financial Year for Annual Financial Results May 30, 2021

Entities with either of their NCDs/NCRPs/PDI listed[2]

4 52(1) &(2) Submission of Financial Results For half yearly results: 45 days from the end of the half year May 15, 2021 June 30, 2021
For Annual Results: 60 days from the end of Financial Year May 30, 2021
5 52(7) read with circular dated January 17, 2020 Statement of deviation or variations in use of funds (along with financial results) For half yearly results: 45 days from the end of the half year May 15, 2021 June 30, 2021
For Annual Results: 60 days from the end of Financial Year May 30, 2021

Entitles with listed municipal bonds

6 SEBI circular dated November 13, 2019[3] Annual Audited Financial Results 60 days from end of the financial year May 30, 2021 June 30, 2021

Entities with listed commercial paper

7 SEBI Circular dated October 22,  2019[4] Submission of financial results 45 days from end of the half year May 15, 2021 June 30, 2021
60 days from end of the financial year May 30, 2021

 

 

[1] https://www.sebi.gov.in/legal/circulars/apr-2021/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-disclosure-requirements-regulations-2015-due-to-the-covid-19-pandemic_50000.html

[2] https://www.sebi.gov.in/legal/circulars/apr-2021/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-disclosure-requirements-regulations-2015-other-applicable-circulars-due-to-the-covid-19-pandemic_50001.html

[3] https://www.sebi.gov.in/legal/circulars/nov-2019/continuous-disclosures-and-compliances-by-listed-entities-under-sebi-issue-and-listing-of-municipal-debt-securities-regulations-2015_44942.html

[4] https://www.sebi.gov.in/legal/circulars/oct-2019/framework-for-listing-of-commercial-paper_44715.html

 

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