LEXSTREET ADVISORS LLP
SEBI RELAXATION IN JULY, 2020

SEBI RELAXATION IN JULY, 2020

(a  Relaxation from compliance with provisions of the SEBI (Issue and Listing of Debt  Securities)  Regulations,  2008(“ILDS  Regulation”),  SEBI  (Non-Convertible Redeemable  Preference  Shares)  Regulations,  2013 (“NCRPS Regulations”) andSEBI Circulars relating to Listing of Commercial Papers.

 

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/2020/106dated 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 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.

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