SEBI relaxations – covid

SEBI has on 23rd March, 2020 announced a second set of relaxations for compliances due to the covid crisis.

https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-and-certain-sebi-circulars-due-to-the-covid-19-virus-pandemic-cont-_46395.html

These relaxations cover primary issues in debt market/ commercial papers, some LODR compliances, some NCD compliances/ commercial papers etc. and some municipal debt compliances.

Earlier some relaxations were made on 19th March, 2020 regarding compliances under LODR

https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-virus-pandemic_46360.html

Still SEBI in both of these circulars not mentioned about the reconciliation of share capital under the SEBI (Depositories) Regulations and certificate u/r 40(9) of the LODR both of which go in April 2020 in respect of the March 2020 period. Half baked and incomplete circulars being issued by SEBI in this regard.

Meanwhile there is no news from MCA regarding extension in their deadlines – payment of challan dates, due dates for various forms which come into force for the March 2020 period, extension of the resubmission due dates, Spice+ dates etc.

Government departments seems to be working in utter disaster

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