Securities Exchange Board of India (SEBI) vide Notification No. SEBI/HO/CFD/CMD1/CIR/P/2020/109
dated 25th June, 2020 has come out with Further extension of time for submission
of Annual Secretarial Compliance Report by listed entities due to the continuing
impact of the CoVID-19 pandemic in exercise of the powers conferred under
Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with
Regulation 101 of the SEBI (LODR) Regulations, 2015.
The Circular was issued to:
- All listed entities
- All Recognized Stock Exchanges
- Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020
(Regulation 33 of SEBI LODR)
Reason behind further extension from 30th June 2020 to 31st July 2020.
| Sl no.
|| Regulation and associated filing
|| Relaxation w.r.t. the quarter /
financial year ending March 31, 2020
|| Due within
|| Due Date
|| Extended date
|| Period of relaxation
|| Regulation 24A read
with circular No
CIR/ CFD/CMD1/27/2019 dated February 8, 2019 relating to
Secretarial Compliance Report
|| 60 days from the end of Financial Year
|| 1 month
Various representation has been received by SEBI from listed entities, Institute
of Company Secretaries of India (ICSI), and industry bodies/associations seeking
further extension of time for submission of the Annual Secretarial Compliance
Report in view of the:
Further Relaxation from SEBI
SEBI has decided to:
- difficulties and challenges faced by listed entities and
- Practicing Company Secretaries
due to the continuing impact of the CoVID-19 pandemic.
Applicability of this Circular: shall come into force with immediate effect.
Brief note on ASCR:
- SEBI has further extended the timeline for submission of the ASC Report by
one more month, t, to July 31, 2020, for the Financial Year ended 31st March
Link of SEBI Circular on ASCR:
- Applicable Laws: Regulation 24A of SEBI (LODR), Regulations, 2015 & SEBI
Circular dated Feb. 8, 2019
- As per Regulation 24A: Secretarial Audit
Every listed entity and its material unlisted subsidiaries incorporated in
India shall undertake secretarial audit and shall annex with its annual
report, a secretarial audit report, given by a company secretary in
practice, in such form as may be prescribed with effect from the year ended
March 31, 2019.
- Reporting Requirement under Annual Secretarial Compliance Report:
It is a compliance check mechanism of all applicable SEBI Regulations and
circulars/ guidelines issued thereunder, consequent to which, the PCS
(Practicing Company Secretary) shall submit a report to the listed entity in the
manner specified in SEBI circular dated 08.02.2019.
applicable to listed entities, with effect from the financial year ended March
31, 2019 onwards.
In No Event The Author Shall Be Liable For Any Direct, Indirect, Special Or
Incidental Damage Resulting From Or Arising Out Of Or In Connection With The Use
Of This Information.