The Securities and Exchange Board of India in its Circular dated 17th April 2020 has relaxed norms for listed companies under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) in the context of the extended nationwide lockdown overoutbreak of coronavirus pandemic.
As per the norms, stock exchanges need to be provided prior intimation about meetings of the board at least five days before the meeting if financial results are to be considered and two working days in other cases.
However it has been decided that the prior intimation of 5 days / 2 working days shall be reduced to 2 days, for board meetings held till July 31, 2020.
SEBI has also relaxed rules pertaining to intimation to stock exchanges for loss of share certificates as well as issue of duplicate certificates which has to be done within two working days of its getting information. It has been decided that any delay beyond the stipulated time will not attract penal provisions. This relaxation is for intimations to be made between March 1 to May 31, the regulator said.
Further With regard to the use of digital signatures, SEBI has clarified that authentication and certification of any filing or submission made to stock exchanges may be done using digital signature certifications until June 30, 2020.
SEBI has also decided to exempt publication of advertisement in newspapers, as required under the listing norms for entities which list non convertible debentures (NCD) and non convertible redeemable preference shares (NCRPS), till May 15.
Click here to read the Notification.
