Introduction: In this article, we will elaborate on the procedure for applying for a waiver of fines imposed in accordance with the SEBI circular SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020. As of January 01, 2024, listed companies must adhere to a specific process outlined in the Waiver Application Module of the Listing Centre.
Detailed Analysis: The SEBI circular, along with the Exchange circular 20220331-52 dated March 31, 2022, emphasizes the discretion granted to exchanges to deviate from SOP Circulars’ prescribed actions. Such deviations, however, require explicit written reasons.
Companies seeking a waiver are instructed to follow a precise path within the Listing Centre to submit their applications. The designated route is as follows: Listing Centre > Listing Operations > Listing Module > Issue Type > Waiver > Sub process > Waiver. It is crucial for companies to note that, effective from January 01, 2024, only applications made through the Waiver Application Module of the Listing Centre will be considered as valid.
All listed companies are urged to acknowledge and ensure compliance with this updated procedure. Failure to comply may result in the rejection of waiver applications.
For further clarification, the specified contact is [email protected]. Additionally, two key individuals, Shyam Bhagirath, Manager-Listing Compliance, and Rohan Kallan, Assistant Manager-Listing Compliance, are available for assistance.
Conclusion: As the regulatory landscape evolves, companies must stay informed about procedural changes affecting their compliance responsibilities. The SEBI circular of January 22, 2020, and subsequent Exchange circulars underscore the need for listed companies to follow the specified procedure when applying for waivers. The updated process, effective from January 01, 2024, through the Waiver Application Module of the Listing Centre, ensures a standardized and streamlined approach to seeking waiver of fines. For any queries or clarifications, companies can reach out to the provided contact email or liaise with the dedicated compliance managers, Shyam Bhagirath and Rohan Kallan.
*****
NOTICES
Notice No. 20240101-18
Notice Date 01 Jan 2024
Category: Circulars Listed Companies
Segment General
Subject: Procedure to apply for waiver of fines levied as per SEBI circular SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020 through Listing Centre
Dear Sir\Ma’am,
This is with reference to the SEBI circular SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020, and Exchange circular 20220331-52 dated March 31, 2022, wherein SEBI has directed the Exchanges that they may deviate from the actions prescribed in SOP Circulars, if found necessary, only after recording reasons in writing.
Companies intending to apply for waiver application shall do so by logging into Listing Centre. The path for the same is as follow:
Listing Centre > Listing Operations > Listing Module > Issue Type > Waiver > Sub process > Waiver
With effect from January 01, 2024, only those applications made through the Waiver Application Module of Listing Centre would be considered as valid waiver application.
All listed companies are requested to take note of the same and ensure compliance.
In case of any clarification, you may contact the following:
Shyam Bhagirath
Manager-Listing Compliance
Rohan Kallan
Assistant Manager-Listing Compliance
