a) The Security and Exchange Board of India (SEBI), on Friday, issued a circular relaxing the timelines for compliance with regulatory requirements.
b) In view of the situation arising due to COVID-19 pandemic, lockdown imposed by the Government and representations received from Stock Exchanges, the Board decided to further extend the timelines for compliance with the regulatory requirements, by the trading members or clearing members or depository participants, mentioned in the earlier SEBI circulars issued by the SEBI.
c) The Board empowered under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996 issued the guidelines so as to protect the interest of the investors in securities and to promote the development of, and to regulate the securities markets.
- Firstly, in the SEBI Circular dated April 16, 2020, I, II, X & IX the timeline extended was till June 30, 2020, for the month of April 2020, till June 30, 2020, for the quarter ended on March 31, 2020, and till June 30, 2020, respectively.
- Secondly, in the SEBI Circular dated April 16, 2020, III the Period of exclusion shall be from March 23, 2020, till June 30, 2020.
- Lastly, in the SEBI Circular dated April 21, 2020, I, II & III; IV & V the timeline extended till June 30, 2020, and two months from the due date respectively.