SEBI has vide Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/109 dated 25th June, 2020 Further extended time for submission of Annual Secretarial Compliance Report (ASCR) by listed entities due to the continuing impact of the CoVID-19 pandemic to 31st July 2020. Period was earlier extended from 31.05.2020 to 30th June 2020 vide Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020.
Reporting Requirement under Annual Secretarial Compliance Report
Under Regulation 24A of SEBI (LODR), Regulations, 2015 & SEBI Circular dated Feb. 8, 2019 Every listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be prescribed with effect from the year ended March 31, 2019. Annual Secretarial Compliance Report is Applicable to listed entities, with effect from the financial year ended March 31, 2019 onwards.
Text of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/109 Dated June 25, 2020
Securities and Exchange Board of India
Dated: June 25, 2020
All listed entities that have listed specified securities All Recognized Stock Exchanges
Madam / Sir,
Sub: Further extension of time for submission of Annual Secretarial Compliance Report by listed entities due to the continuing impact of the CoVID-19 pandemic
1. SEBI, vide circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020, had extended by one month (from May 31, 2020 to June 30, 2020), the timeline for submission of the Annual Secretarial Compliance (ASC) Report for the year 2019-2020, for listed entities.
2. SEBI has received representations from the Institute of Company Secretaries of India (ICSI), industry bodies and listed entities requesting extension of time for submission of the ASC Report in view of the difficulties and challenges faced by listed entities and Practicing Company Secretaries due to the continuing impact of the CoVID-19 pandemic.
3. After consideration, it has been decided to further extend the timeline for submission of the ASC Report by one more month, to July 31, 2020.
4. This Circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities that have issued specified securities and also disseminate on their websites.
5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR Regulations.
6. This Circular is available at www.sebi.gov.in under the link “Legal->Circulars”.
Corporation Finance Department
Compliance and Monitoring Division-1