The weekly messenger | Edition 33.21

Regulatory news 

Disclosure obligations of listed entities in relation to RPTs ‒ 22 November 2021

The Securities and Exchange Board of India (SEBI) vide its notification dated 9 November 2021, had amended the Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, wherein it was made mandatory for the listed entities that have listed specified securities to submit to the stock exchanges, disclosure of Related Party Transactions (RPTs) in the format specified by the Board from time to time.

Now, the SEBI has further issued a Circular, which prescribes the information to be placed before the audit committee and shareholders for consideration of RPTs.

This Circular shall come into force w.e.f 1 April 2022.

For more information, click here.

Non-compliance with certain provisions of SEBI (ICDR) Regulations, 2018 ‒ 23 November 2021

The SEBI vide its Circular dated 19 August 2019 had specified the fines to be imposed by the Stock Exchanges for non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) (ICDR) Regulations, 2018.

Now, the SEBI has amended the aforesaid Circular, wherein a new paragraph i.e., paragraph 9A has been inserted:

“9A. The Stock Exchanges may deviate from the provisions of the Circular, wherever the interest of the investors are not adversely affected, if found necessary, only after recording reasons in writing”.

The aforesaid paragraph shall always be construed to be the part of the original Circular.

For more information, click here.

Master Circular on Scheme of Arrangement ‒ 23 November 2021

The SEBI has issued the ‘Master Circular on Scheme of Arrangement’, which is a compilation of all the relevant and updated circulars issued by SEBI which deal with schemes of arrangement, and which are operational as on date of this Circular.

For more information, click here.