CAIRR Update August 16, 2021

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CAIRR Update August 16, 2021

Summary of the notifications and circulars issued by SEBI on 13/08/2021
SEBI amends disclosure requirements under Takeover Code w.e.f 01/04/2022
Listed entities are no longer required to file the details of the shareholding and voting rights of the promoter and/or by person, together with persons acting in concert with him/her, as on 31st March of every financial year with the Stock Exchange as required under Continual Disclosures of the Takeover Code. Further, disclosure requirement w.r.t encumbered shares is not required if such encumbrance is undertaken in a depository.
SEBI relaxes disclosure requirements for the Debt Listed entities LODR regulations w.e.f 13/08/2021
Key Highlights of the amendment are:

      1.       Disclosures on credit rating, asset cover, previous and next due dates for interest payment needn’t be provided along with half yearly/annual financial results.

      2.       Annual undertaking on compliance with respect to Issue and Listing of Debt Securities and Terms of Trust Deed needn’t be submitted with the Stock Exchange

      3.       Half yearly communication to non-convertible security holders on various financial parameters is not required.

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Tendering of shares in open offers, buy-back offers and delisting offers by marking lien in the DEMAT account of the shareholders with effect from 15/10/2021.

To reduce the systematic risk and risks/costs associated with the movement of securities from demat account of shareholders to Clearing Corporation account, vice-versa and to make the process more investor friendly, a lien shall be marked against the shares of the shareholders participating in the tender offers. Only the accepted quantity of shares shall be debited from the shareholder’s demat account and the balance, if any, shall be released. Detailed procedure in this regard in annexed to this circular.
Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015
SEBI has notified that the manual filing of disclosures by the listed entities as required under Regulation 7(2) (a) & (b) of PIT Regulations is no longer required as the System Driven Disclosures have been implemented by SEBI w.e.f 01/04/2021 and is live as indicated in its circular dated 09/09/2020.
Revised format for disclosure of shareholding pattern under LODR regulations
To promote better transparency to the investors, all listed entities shall now furnish the details of the shareholding, segregating it into promoter(s) and promoter group (as against collective figure), with the stock exchange as required under LODR Regulations. The revised format is included in the said circular.
The above notifications and circulars are integrated in our free-to-use website for your ready reference.

By | 2021-08-16T12:39:32+00:00 August 16th, 2021||0 Comments

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