Way back from 1996 in Indian history, the need for having a strong framework of good corporate governance has been kept on increasing due to the various irregularities occurring worldwide including in India. Following the importance various regulators have made the law so stringent that misuse of law may be minimised and Indian corporate governance can be set as an example of benchmark for the whole world.
One such step in this regard, is the issuance of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. These Regulations have been structured to provide ease of reference by consolidating into one single document across various types of securities listed on the Stock exchanges.
The provisions in Listing Regulations have been aligned with those of the Companies Act, 2013 and it has provided ease for reference as the related provisions have been aligned and provided at a common place.
The regulations start by providing broad principles (in line with IOSCO Principles) for periodic disclosures by listed entities and also have incorporated the principles for corporate governance (in line with OECD principles). These principles underlie specific requirements prescribed in different chapters of the Regulations. These principles would serve to guide the listed entities, in the event of the absence of specific requirements or ambiguity.
Over the years, many amendments and frequent changes have been made in the Regulations and to remain abreast with the developments, the Institute of Chartered Accountants of India (ICAI) through its Corporate Laws & Corporate Governance Committee (CL&CGC) has planned to bring out a publication on “Frequently Asked Questions on SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015” that will provide its members the detailed guidance on recent amendments and understanding of the Regulations.
I appreciate the Corporate Laws & Corporate Governance Committee (CL&CGC) in bringing this publication which is so useful for our members. I extend my sincere appreciation to CA. Chandrashekhar V. Chitale, Chairman, CA. Durgesh Kumar Kabra, Vice-Chairman and other members of the Corporate Laws & Corporate Governance Committee to bring out this important publication at this point of time.
I am sure that the members and other interested readers would find the publication immensely useful.
CA Atul Kumar Gupta
Date: 08th February, 2021