SEBI Vide Circular dated May 06, 2020 has provided onetime relaxations under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 to reduce burden of COVID-19 pandemic and the lockdown measures.
In respect of all offer documents filed until July 31, 2020, it has been decided to grant the following relaxations:
(i)Authentication/ certification/ Undertaking(s)in respect of offer documents, may be done using digital signature certifications.
(ii)The issuer along with lead manager(s) shall provide procedure for inspection of material documents electronically.
An application for a rights issue shall be made only through ASBA facility. In view of the difficulties faced due to COVID-19 pandemic and the lockdown measures, and in order to ensure that all eligible shareholders are able to apply to the rights issue during such times, the issuer shall along with lead manager(s) to the issue, the registrar, and other recognized intermediaries [as deemed fit by issuer and lead manager (s)], institute an optional mechanism(non-cash mode only)to accept the applications of the shareholders subject to ensuring that no third party payments shall be allowed in respect of any application.
Click here to read the Circular.
