The Securities and Exchange Board of India vide notification dated 27th April, 2022 has issued the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2022. The amendment provides following timeline for commencement of previous amendment to ICDR Regulations:
(a) for public issues of a size less than ₹10,000 crore and opening on or after April 1, 2022; with
effect from April 1, 2022;
(b) for public issues of a size equal to or more than ₹10,000 crore and opening on or after April 1,
2022; with effect from July 1, 2022.
The previous amendment provides that if the issuer or the promoter or the promoter group or the director of the issuer has settled any alleged violations of securities laws through the settlement mechanism of the Board in the past three years immediately preceding the reference date, then the disclosure of such compliance of the settlement order, shall be made in the offer document.
