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Latest from the Regulator - January 2025
The Securities and Exchange Board of India (SEBI) issued a Circular on December 31, 2024, titled "Circular for implementation of Recommendations of the Expert Committee for Facilitating Ease of Doing Business for Listed Entities"
The key highlight from the circular was Introduction of Integrated Filings
• The revised format for Integrated Filing (Governance), will cover the following:
A. Quarterly Compliance Report on Corporate Governance
B. Investor Grievance Redressal Report
C. Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
D. Disclosure of Imposition of Fine or Penalty
E. Disclosure of updates to ongoing Tax Litigations or Disputes
F. Disclosure of Loans/ Guarantees/ Comfort Letters/ Securities Etc.
(Applicable only for half-yearly filings i.e., 2nd and 4th quarter)
G. Affirmations on compliance requirements for AGM
(Applicable only for the first half-year filing i.e., 2nd quarter)
H. Website Affirmations
(Applicable only for annual filing i.e., 4th quarter)
I. Affirmations w.r.t. compliance with Corporate Governance Provisions
(Applicable only for annual filing i.e., 4th quarter)
Reporting Timeline: Within 30 days from the end of the quarter.
Format: Provided as Annexure A in the Circular.
• The revised format for Integrated Filing (Financial), will cover the following:
A. Financial Results B. Statement on deviation or variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement etc. C. Format for disclosing Outstanding Default on Loans and Debt Securities
D. Format for disclosure of Related Party Transactions
(Applicable only for half-yearly filings i.e., 2nd and 4th quarter)
E. Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted alongwith annual audited financial results (standalone and consolidated separately
)(Applicable only for annual filing i.e., 4th quarter)
Reporting Timeline: Within 45 days from the end of the quarter, other than the last quarter, and 60 days from the end of the last quarter and the financial year.
Format: Provided as Annexure A in the Circular.
Additional Timeline Note: The first quarterly Integrated Filing (Governance) and (Financial) which is applicable for the quarter ending December 31, 2024, may be filed within a period of 45 days from the end of the quarter.
For detailed information, including specific annexure names and comprehensive timelines, please refer to the full circular available on:
https://www.sebi.gov.in/legal/circulars/dec-2024/circular-for-implementation-of-recommendations-of-the-expertcommittee-for-facilitating-ease-of-doing-business-for-listed-entities_90406.html
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Institute of Directors India
Bringing a Silent Revolution through the Boardroom
Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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