Topics In Demand
Notification
New

No notification found.

Call for Inputs: SEBI Consultation Paper - Harmonisation of provisions of ICDR and LODR Regulations
Call for Inputs: SEBI Consultation Paper - Harmonisation of provisions of ICDR and LODR Regulations

January 15, 2024

36

0

Dear All,

As you may be aware, Securities and Exchange Board of India (SEBI) has released a consultation paper on Interim Recommendations of the Expert Committee for facilitating ease of doing business and harmonization of the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

 (ICDR) Regulations.

The consultation paper provides the following recommendations:

LODR Regulations

  1. Applicability of the regulations on the basis of market capitalization

  2. Limit of membership and chairmanship of committees for a director

  3. Filling up of vacancies of key managerial personnel

  4. Timeline for prior intimation of board meetings

  5. Gap between meetings of the Risk Management Committee.

ICDR Regulations

  1. Inclusion of equity shares received on conversion or exchange of fully paid-up Compulsory Convertible Securities and depository receipts for the purpose of Minimum Promoters’ Contribution

  2. Non-individual shareholders to be permitted to contribute towards Minimum Promoters’ Contribution without being identified as a promoter

  3. Thresholds for increase or decrease in issue size triggering re-filing  of draft offer documents

  4. Flexibility to extend the bid/offer closing date on account of force majeure events minimum by one day instead of present requirement to extend by minimum three days

In case you have any feedback/ inputs on the consultation paper, please write to tejasvi@nasscom.in before January 24, 2024.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Tejasvi

© Copyright nasscom. All Rights Reserved.