P&H HC: Bail Petition Rejected of Travel Agent Accused of Defrauding a Man for Processing Visa  ||  SC: Conviction for Stalking Quashed Due to Marriage Between Convict and Complainant  ||  All HC: S. 33-G UP Sec. Education Act a Benefi. Prov. for Teachers Serving for More Than 2 Decades  ||  All HC: SI Fixed at 6% p.a On Excess/Less Determination of Provi. Tariff Ultra Vires Electricity Act  ||  Del. HC: Entities Restrained from Infringing Personality Rights of Actor Jackie Shroff  ||  Bom HC: Authorisation to Export Necessary Even if Exporter has License to Sell Drugs for Med. Purpose  ||  Constitution Bench Judgment Not Considered, Supreme Court Recalls Judgement Passed in 2022  ||  SC: Full Ownership of Property Under S.14 (1) Can be Claimed by Hindu Woman Only if She Possesses it  ||  Supreme Court: Can’t Apply CrPC Retrospectively to Jammu & Kashmir Before 31.10.2019  ||  Mad. HC: Ritual of Devotee Rolling Over Leaves on Which Food Was Eaten by Others, Allowed    

Relaxation from compliance with provisions of SEBI’s ILDS Regulation, NCRPS Regulations and Circulars related to Listing of Commercial Papers- (Securities and Exchange Board of India) (15 Jul 2020)


Capital Market

1. ILDS Regulations, NCRPS Regulations and circulars related to Listing of Commercial Papers (CPs) require an Issuer to inter-alia submit its latest audited financials which should not be older than six months. Compliant listed entities are, however, permitted to use unaudited financials with limited review in lieu of the audited financials for the stub period, subject to these unaudited financials not being older than six months.

2. On account of COVID pandemic, SEBI vide circular no. SEBI/HO/CFD/CMD1/CIR/P/2020/106 dated June 24, 2020 extended the timelines for submission of financial results for the quarter/half year/annual financial year for the period ending March 31, 2020 till July 31, 2020.

3. SEBI has now received representations from listed entities seeking extension of time for listing their Non-Convertible Debentures (NCDs)/Non-Convertible Redeemable Preference Shares (NCRPS)/Commercial Paper(s) (CPs), pending finalization of their annual accounts for the financial year ending March 31, 2020.

4. Accordingly, it has been decided to permit listed Issuers who have issued NCDs/NCRPS/CPs, on or after July 01, 2020 and intend/propose to list such issued NCDs/NCRPS/CPs, on or before July 31, 2020, to use available financials as on December 31, 2019.

5. Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate on their websites.

6. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 31 and 32 of the SEBI (ILDS) Regulations, 2008, Regulations 26 and 27 of SEBI (NCRPS) Regulations, 2013, the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.


Share :        

Disclaimer | Copyright 2024 - All Rights Reserved