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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Karnataka Lockdown Extension Order

- May 19, 2020

Pursuant to the updated order issued by the Ministry of Home Affairs, Government of India dated May 17, 2020 bearing No. 40-3/2020-DM-I(A) (“ Order ”) with the new guidelines on the measures to be taken by Ministries / Department of Government of India / states and state authorities for containing the spread of COVID-19, the Karnataka state government has issued updated guidelines on the measures to be taken for containing the spread of COVID-19 which will come into effect immediately and be valid till May 31, 2020 (“ Karnataka Order ”). The Karnataka Order can be accessed here . Below is a brief overview of the Karnataka Order, in addition to those set out by the Order: 1. Permitted Activities · In all zones areas except containment zones, taxis/autorickshaws (with a maximum of 2 (two) passengers excluding the driver), maxi cabs and aggregators will be permitted to ply with restrict...

IRDAI – Relaxations for e-Insurance policies and proposal forms

- September 15, 2020

The Insurance Regulatory and Development Authority of India (Issuance of e-Insurance Policies) Regulations, 2016 ( e-Insurance Regulations ) governs the issuance of electronic policy and submission of electronic proposal form of insurance policies. “E-insurance policy” or electronic insurance policy” means a policy document which is an evidence of insurance contract issued by an insurer and digitally signed in accordance with the applicable provisions prescribed by law and issued in an electronic form either directly to the policyholder by the insurer or through the platform of registered Insurance repository. As per Regulation 3 of the e-Insurance Regulations, every insurer soliciting insurance business through electronic mode shall create an e-proposal form similar to the physical proposal form approved by the Authority. The e-Insurance Regulations mandate that, every such insurer, shall also make available physical version of the e-proposal form. Per Regulation 4(...

Government of India announces exemption from Customs Duty for certain medical devices

- April 10, 2020

In the wake of COVID-19 outbreak, and to facilitate the fight to contain its spread, the Government has issued a Notification No. 20/2020-Customs dated April 9, 2020 , exempting the following medical devices from all customs duty and health cess: COVID-19 test kits; Face masks and surgical masks; Personal Protection Equipment (PPE); Artificial respiration or other therapeutic respiration apparatus (i.e. ventilators); and Inputs required in manufacturing such products provided that importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. This exemption will remain effective until 30 September 2020.

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