Introduction: Navigating the complex landscape of regulatory compliance is crucial for listed entities to ensure seamless operations and maintain investor trust. The Securities and Exchange Board of India (SEBI), along with allied laws, mandates a comprehensive set of compliances to uphold transparency, governance, and investor protection. This article presents a detailed compliance calendar, highlighting critical quarterly, half-yearly, and annual deadlines that listed entities must adhere to as per SEBI regulations for the financial year 2023-2024.
This compliance calendar provides a clear overview of the timelines and requirements as per SEBI and allied laws.
QUARTERLY COMPLIANCE
1. Regulation 13 (3) – Statement of Grievance Redressal Mechanism: The listed entity must file a statement with the recognized stock exchange(s) within twenty-one days from the end of each quarter, detailing the number of investor complaints pending at the beginning of the quarter, received and disposed of during the quarter, and remaining unresolved at the quarter’s end.
Deadline:
- By July 21st
- By October 21st
- By January 21st
- By April 21st
2. Regulation 27(2)(a) – Corporate Governance Report: Quarterly submission of a compliance report on corporate governance within fifteen days from the close of the quarter, unless exempted based on specified criteria.
Deadline:
- By July 21st
- By October 21st
- By January 21st
- By April 21st
3. Regulation 31(1)(b) – Shareholding Pattern: Submission of a statement showing the holding of securities and shareholding pattern for each class of securities, on a quarterly basis within twenty-one days from the end of each quarter.
Deadline:
- By July 21st
- By October 21st
- By January 21st
- By April 21st
4. Regulation 32(1) – Statement of Deviation(s) or Variation(s): Disclosure of details regarding significant beneficial owners within forty-five days from the end of the quarter, or within sixty days from the end of the last quarter.
Deadline:
- By August 14th
- By November 14th
- By February 14th
- By May 30th
5. Regulation 33(3)(a) – Financial Results with Limited Review Report/Auditor’s Report: Submission of quarterly standalone financial results within forty-five days from the end of each quarter, along with the limited review report or audit report, and annual audited standalone financial results within sixty days from the end of the financial year.
Deadline:
- By August 14th
- By November 14th
- By February 14th
- By May 30th
6. Reconciliation of Share Capital Audit Report: Submission within thirty days from the end of the quarter.
Deadline:
- By July 30th
- By October 30th
- By January 30th
- By April 30th
HALF-YEARLY COMPLIANCE
1. Regulation 23(9) – Disclosures of Related Party Transactions: On the date of publication of standalone and consolidated financial results.
2. Regulation 40(9) – Certificate from Practicing Company Secretary: Submission of a certificate from a practicing company secretary within one month of the end of each half of the financial year, certifying timely issuance of all certificates related to share transfers.
Deadline:
- By October 31st
- By April 30th
ANNUAL COMPLIANCE
1. Regulation 7(3) – Compliance Certificate certifying maintenance of physical & electronic transfer facility: Submission of a compliance certificate within thirty days from the end of the financial year.
Deadline: By 30 days from the end of the financial year
2. Regulation 34(2)(f) – Business Responsibility and Sustainability Report: Submission along with the Annual Report, applicable to the top 1000 listed entities.
3. Regulation 33(3)(d) – Financial Results along with Auditor’s Report: Submission within sixty days from the end of the financial year.
4. Regulation 40(10) – Transfer or Transmission or Transposition of Securities: Submission within thirty days from the end of the financial year.
EVENT BASED COMPLIANCE
- Regulation 7(5) – Intimation of Appointment of Share Transfer Agent: Within seven days of agreement with RTA.
- Regulation 28(1) – In-principle Approval of Recognized Stock Exchange(s): Before issuing securities.
- Regulation 29(2)(b) to (f) – Prior Intimation of Board Meeting: At least two working days in advance.
- Regulation 29(2)(a) – Prior Intimation of Board Meeting for Financial Results: At least five days in advance.
- Regulation 29(3) – Prior Intimation of Board Meeting for Alteration in Nature of Securities: At least eleven working days in advance.
- Regulation 30(6) – Disclosure of Events or Information: As specified.
- Regulation 31(1)(a) – Shareholding Pattern prior to listing of securities: One day prior to listing of securities.
- Regulation 31(1)(c) – Shareholding Pattern in case of capital restructuring: Within 10 days of any change in capital +/- 2%.
- Regulation 37(2) – Draft Scheme of Arrangement: Obtain observation letter or No-objection letter before filing the scheme.
- Regulation 39(3) – Loss of Share Certificates and Issue of Duplicate Certificates: Within two days of information.
- Regulation 44(3) – Voting Results: Within two working days of conclusion of the Meeting.
- Regulation 45(3) – Change in Name: Prior approval from Stock Exchange.
- Regulation 46 – Website: Maintenance of a functional website containing basic information.
CORPORATE ACTIONS
- Regulation 42(2) – Record Date for Dividend, Bonus, Rights etc.: Notice in advance of at least seven working days.
- Regulation 42(3) – Record Date: Recommendation or declaration at least five working days before the record date.
- Regulation 42(4) – Record Date: Ensure a time gap of at least thirty days between two record dates.
- Regulation 42(5) – Book Closure: Announcement of closure dates with a time gap of at least thirty days between two dates.
DISCLOSURE UNDER REGULATIONS 30(1) AND (2) OF SEBI (SAST) REGULATIONS 2011
- Disclosure of aggregate shareholding and voting rights within seven working days from the end of each financial year to the stock exchange(s) and the target company.
Conclusion: Adhering to the compliance calendar as per SEBI and allied laws is not just a regulatory requirement but a cornerstone for maintaining the integrity and credibility of the capital markets. Listed entities must proactively manage their compliance obligations to avoid penalties and preserve their reputation among investors. By staying informed and prepared for these key deadlines, companies can ensure they meet their regulatory obligations efficiently and contribute to a more transparent and robust market ecosystem.
*****
{The author i.e. Shahbaz Khan is a Company Secretary and can be reached at (M) 8982766623 and (E) [email protected]}
Author Bio
Reg 30(1) & 30(@) of SAST has already omitted