The weekly messenger | Edition 09.22

Regulatory News

SEBI (LODR) (Second Amendment) Regulations, 2022 – 22 March 2022

The Securities and Exchange Board of India (SEBI) has issued the SEBI (Listing Obligations and Disclosure Requirements (LODR)) (Second Amendment) Regulations, 2022 (Listing Regulations), wherein Regulation 17(1B) which deals with separation of roles of Chairperson of the board and Managing Director / Chief Executive Officer in the top 500 listed entities has been omitted. Now, this requirement has been shifted to Part E ‘Discretionary Requirements’ of Schedule II of the Listing Regulations, thereby making it voluntary on part of companies to separate the posts of Chairperson and the Managing Director or the Chief Executive Officer.

These Regulations shall come into force w.e.f. 22 March 2022.

For more information, click here.

Dividend Criteria for Equity Investment under “Approved Investment” – 24 March 2022

The Insurance Regulatory and Development Authority of India (IRDAI) had earlier permitted the Insurers to classify the investments in Preference Shares and Equity Shares as part of “Approved Investment” if dividend is paid on such Shares “for at least 2 years out of 3 consecutive years immediately preceding” instead of “for at least 2 consecutive years immediately preceding” for the period from 1 April 2020 to 30 September 2021, which got extended till 31 March 2022.

The aforesaid criterion has now been further extended for the period from 1 April 2022 to 30 September 2022.

For more information, click here.