Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

CIRCULAR
SEBI/HO/CFD/DIL1/P/CIR/2021/0660
November 23, 2021

To
All the Recognized Stock Exchanges

Dear Sir/Madam,

Sub: Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”)

1. SEBI issued a Circular bearing reference number SEBI/HO/CFD/DIL2/CIR/P/2019/94 dated August 19, 2019, specifying the fines to be imposed by the Stock Exchanges for non-compliance with certain provisions of SEBI (ICDR) Regulations, 2018.

2. In partial modification of August 19, 2019 circular, para 9A is inserted after para 9: “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.”

3. The aforesaid para shall always be construed to be the part of the original circular.

4. The Stock Exchange are advised to bring the provisions of this circular to the notice of listed entities and also to disseminate the same on its website.

5. This circular is issued under regulation 299 of ICDR Regulations and in exercise of power conferred under Section 11(1) of the Sebi Act 1992, to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market.

6. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework/Circulars”.

Yours faithfully,
Rajesh Gujjar
General Manager
Division of Issues and Listing -1
Corporation Finance Department
Email - rajeshg@sebi.gov.in
+91 22 2644 9232