In the wake of corona virus pandemic, SEBI has already issued various relaxations for listed companies vide its circular dated March 19, 2020 and March 26, 2020. In continuing the relaxation, SEBI has decided to grant further relaxations vide its circular dated April 17, 2020 from compliance with certain provisions of SEBI LODR Regulations, 2015.

A. Prior intimation to stock exchanges about meetings of the board:

Regulation Existing provision Revised Provision
Regulation 29 (2) Prior intimation to the Stock Exchanges about the board meetings at least 5 working days before the meeting, if the financials are to be considered and at least 2 working days in other cases. Time gap is reduced to 2 Days in all cases till July 31, 2020

B. Intimation to Stock Exchanges regarding loss of share certificates and issue of the duplicate certificates:

Regulation Existing provision Revised Provision
Regulation 39 (3) Companies to submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information SEBI has now waived the penal provisions as laid down in the SEBI circular dated May 3, 2018 for any delay in intimating the exchange beyond the stipulated time period between March 1, 2020 to May 31, 2020.

C. Clarification regarding the use of digital signatures:

Companies may now use digital signatures for any kind of submissions made to the exchanges under LODR Regulations till June 30, 2020.

D. Relaxation from publication of advertisements in newspapers

SEBI had earlier exempted listed companies from publishing newspaper advertisement as required under Regulation 47 of the LODR regulations till May 15, 2020. Now similar exemptions is extended to all listed entities including companies which have its Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference (NCRPs) listed on exchanges from publication of advertisements in newspapers under Regulation 52(8) of LODR till May 15, 2020.

Disclaimer: This material and the information contained herein are prepared by JMJA & Associates LLP, Practising Company Secretaries (JMJA) is intended to provide general information on a particular subject or subjects and is not an exhaustive treatment of such subject(s). None of JMJA, its associate firms, or its members/employees is, by means of this material, rendering professional advice or services. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any decision or taking any action that might affect your personal finances or business, you should consult a qualified professional adviser. JMJA shall not be responsible for any loss whatsoever sustained by any person who relies on this material.

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