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Request for Inputs: SEBI - Harmonisation of SEBI LODR and ICDR Regulations
Request for Inputs: SEBI - Harmonisation of SEBI LODR and ICDR Regulations

July 1, 2024

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Securities and Exchange Board of India (SEBI) has released a consultation paper for facilitating ease of doing business and harmonisation of provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015  (LODR regulations) and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations).

The consultation paper suggests amendments on the following aspects:

  1. Ease of doing business under the LODR Regulations - simplify provisions related to filings and disclosures, board of directors and committees, related party transactions, disclosure of material events or information under regulation 30, etc.
  2. Ease of doing business under ICDR Regulations - Price band advertisement and other issue related advertisements, voluntarily disclosure of proforma financials in public issue, rights issue and for QIPs, requirement to make public announcement after filing of draft offer document, certification requirements where one of the objects of the issue is loan repayment, etc.
  3. Harmonisation of the provisions of ICDR and LODR Regulations - Disclosures related to material litigation, aligning definition for identification of Material Subsidiary thresholds, disclosure of material agreements in offer documents, etc.

In this regard, we would request you to share your feedback/ inputs  before July 12, 2024 to tejasvi@nasscom.in.


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