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1. The chief markets regulator has come up with a few relief measures to ease the pain on companies affected by the coronavirus shutdown.
2. PTI offers details: “Markets regulator Sebi on Thursday gave relaxation of 45 days to companies for filing fourth quarter financial results and one-month extension to file results for 2019-20.
3. Besides, relaxation of one month has been given for filing quarterly corporate governance report and three week each for shareholding patten and statement of investor complaint reports, the regulator said in a circular.
4. The decision has been taken in the wake of coronavirus pandemic, which has resulted in many restrictions, including free movement of people, thereby hampering businesses and day-to-day functioning of companies.”
5. Considering the CoVID 19 pandemic, SEBI vide Circular dated March 19, 2020 has decided to grant temporary relaxations from certain compliance stipulations specified under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) to listed entities w.r.t. the quarter / financial year ending March 31, 2020:
|S.No.||Regulation and associated filing||Period of Relaxation|
|1||Regulation 7(3) relating to half yearly compliance certificate on share transfer facility||1 Month|
|2||Regulation 13(3) relating to quarterly statement of Investor complaints||3 weeks (approx)|
|3||Regulation 24A read with circular No CIR/CFD/CMD1/27/2019 dated February 8, 2019 relating to Annual Secretarial compliance report||1 Month|
|4||Regulation 27(2) relating to filing of quarterly Corporate Governance report||1 Month|
|5||Regulation 31 relating to filing of quarterly Shareholding Pattern||3 weeks (approx)|
|6||Regulation 33 relating to filing of quarterly and annual Financial Results||1 month/45 days|
The CoVID 19 virus has hit populations around the world and has restricted free movement of people, thereby hampering businesses and day to day functioning of companies. It has been declared a ‘pandemic’ by the World Health Organization (WHO). Developments arising due to the spread of the virus have warranted the need for temporary relaxations in compliance requirements for listed entities.
For the link of tweet by PTI click here: https://twitter.com/PTI_News/status/1240551255841189888
For the link of SEBI press release: https://www.sebi.gov.in/media/press-releases/mar-2020/sebi-relaxes-compliance-of-certain-provisions-of-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-virus-pandemic_46362.html