Mar 23, 2020

Relaxation from compliance with certain provisions of SEBI (LODR), 2015 and certain SEBI Circulars

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In order to enables issuers who intend/ propose to list their Non-Convertible Debentures (NCDs)/ Non-Convertible Redeemable Preference Shares (NCRPS)/ Commercial Paper(s), SEBI has granted the following relaxations in timeline:

ParticularsAvailable Audited financialsDate of issuanceExtended date for issuancePeriod of relaxation
Cutoff date for issuance of NCDs/NCRPs/ CPsAs on 30th September, 2019On or before 31st March, 2020On or before 31st May, 202060 days

The timelines for certain filings as required under the provisions of SEBI (LODR), 2015 and aforesaid circulars are extended, as follows:

S. No.Regulation and associated filingFilingRelaxation w.r.t. the half year/financial year ending 31st March, 2020
FrequencyDue withinDue dateExtended datePeriod of relaxation on
1.Large Corporate-initial disclosure and Annual Disclosure (SEBI Circular HO/DDHS/CIR/P/2018/144 dated 26th November, 2018)YearlyInitial Disclosure- within 30 days from the beginning of financial year.30th April, 202030th June, 202060 days
  Annual Disclosure- within 45 days from the end of financial year.15th May, 202030th June, 202045 days
Non-Convertible Debentures (NCDs) / Non-Convertible Redeemable Preference Shares (NCRPs)
2.Regulation 52(1) and (2): Financial ResultsHalf yearly45 days from the end of the half year15th May, 202030th June, 202045 days
Yearly60 days from the end of Financial Year for Annual Financial Results30th May, 202030th June, 202030 days
3.Common obligations prescribed under Chapter III of SEBI (LODR) Regulations, 2015Timeline as prescribed in SEBI Circular dated 19th March, 2020.
Commercial Papers (CPs)
4.Financial ResultsHalf yearly45 days from the end of the half year15th May, 202030th June, 202045 days
Yearly60 days from the end of Financial Year for Annual Financial Results30th May, 202030th June, 202030 days

The timelines for certain filings as required under the provisions of SEBI (ILDM) Regulations and SEBI circular nos. CIR/IMD/DF1/60/2017 dated 19th June, 2017 and SEBI/HO/DDHS/CIR/P/134/2019 dated 13th November, 2019 are extended, as follows:

S. No.Regulation and associated filingFilingRelaxation w.r.t. the half year/ financial year ending 31st March, 2020
FrequencyDue withinDue dateExtended datePeriod of relaxation on
1.Investor Grievance Report as per Municipal BondHalf YearlyWithin 30 working days from end of Half Year30th April, 202030th June, 202045 days
2.Financial ResultsHalf Yearly60 days from the end of Financial Year for Annual Financial Results30th May, 202030th June, 202030 days
3.Accounts maintained by issuers under ILDM RegulationsQuarterly45 days from end of quarter15th May, 202030th June, 202045 days

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