Latest developments by SEBI on account of COVID-19

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- July 14, 2020

Since March 2020, the Securities and Exchange Board of India (SEBI) has relaxed various provisions of rules and regulations for listed entities on account of the pandemic. Recent relaxations include:

(i) Extension of relaxation from compliance to REITs and InvITs.

(ii) SEBI (Substantial Acquisition of Shares and Takeovers) Third Amendment Regulations, 2020.

(iii) SEBI (Issue of Capital and Disclosure Requirments) Third Amendment Regulations, 2020.

(iv) Relaxation in timelines for compliance with regulatory requirements.

(v) Relaxation of time gap between two Board/ Audit Committee meeting of listed entities.

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Relaxation in adherence to prescribed timelines issued by SEBI due to COVID-19

- April 13, 2020

In wake of the current nationwide lockdown of 21 days as directed by Government of India SEBI has considered the requirement to extend the timelines for processing of various investor requests pertaining to physical securities and compliance and disclosures to be made under SEBI Regulations and various SEBI circulars. In the event of further extension in the lockdown period as directed by Government of India / State Governments, additional relaxation in prescribed timelines for equal number of extended days in lock down is also being given to intermediaries / market participants for the following matters: Processing of Remat Requests; Processing of Transmission Requests; Processing of request for Issue of Duplicate Share Certificates; Processing of Requests for Name Deletion/ Name Change/Transposition/ Pending Share Transfers (Re-lodgement cases in the case of share transfers); Processing of Requests for Consolidation / Split / Replacement of Share Certificate...

State of Karnataka - Closedown update

- April 28, 2021

The Government of Karnataka has announced a 14 (fourteen) days closedown in the state starting from 9pm, April 27, 2021 to be in force until 6am, May 12, 2021. In this regard, the Government of Karnataka has issued guidelines (available here ) on April 26, 2021 clarifying the state of operations during the closedown ("Guidelines"). A summary of the Guidelines is given below for your reference: 1. Prohibited Activities : Only flights and trains previously scheduled will continue to operate during the period of closedown. Metro rail services will cease. Taxis (including auto rickshaws) and services of cab aggregators prohibited, except while hired for emergency and as permitted in the guidelines. Schools, colleges, educational/coaching institutions etc. will remain closed. Online/ distance teaming shall continue to be permitted and shall be encouraged. However, examination already scheduled shall be permitted with strict adherence to National Directives for ...

Further relaxations for compliances under Goods and Services Tax and Customs Laws

- May 13, 2020

In view of the extension of the nation-wide lockdown on account of the COVID-19 pandemic, the Government of India and the State Government of Kerala have issued further relaxations pertaining to extension of due dates for filing returns for Kerala Flood Cess and extension of facility of accepting undertaking in lieu of bonds. Key relaxations have been summarized below, for ease of reference . A. Extension of due date for filing of return for Kerala Flood Cess The Government of Kerala had notified that the due date of filing returns in Form GSTR 3B (i.e. 20 th of the succeeding month) will also be applicable to filing returns for Kerala Flood Cess. However, on account of practical challenges in filing the said return due to the unprecedented spread of the COVID-19 pandemic, the due dates for the tax periods from February, 2020 to May, 2020 have been extended vide Notification No. 7/2020-State Tax dated April 28, 2020 as follows: Class o...

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