Timelines for Compliance Filings under SEBI Regulations Extended
The Securities and Exchange Board of India (“SEBI”) granted the following relaxations and extended the due dates for filings under various regulations to alleviate the difficulties posed by the nationwide lockdown due to COVID-19:
- Under, Regulations 30(1), 30(2) and 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SAST Regulations”) shareholders are required to compile, collate, and disseminate information of their consolidated shareholding as on March 31 of each financial year to the company and the stock exchanges within seven (7) working days from the end of such financial year. This deadline has been extended to June 01, 2020 for the Financial Year ending March 31, 2020.
- Due date to make regulatory filings and compliances for Real Estate Investment Trust (“REIT”) and Infrastructure Investment Trusts (“InvIT”) for the period ending March 31, 2020 has been relaxed by one (1) month over and above the timelines as prescribed under SEBI (Infrastructure Investment Trusts) Regulations, 2014 and SEBI (Real estate Investment Trusts) Regulations, 2014 and circulars issued thereunder.
- The due date to make regulatory filings by Alternative Investment Funds and Venture Capital Funds for the periods ending March 31, 2020 and April 30, 2020 has been relaxed by two (2) months, over and above the timelines prescribed under SEBI (Alternative Investment Funds) Regulations, 2012 and circulars issued thereunder.
- The Stewardship Code will now be effective from July 01, 2020 instead of April 01, 2020. It was introduced on December 24, 2019 for all Mutual Funds and all categories of Alternative Investment Funds, in relation to their investment in listed equities.