COMMON OBLIGATION OF LISTED
ENTITIES UNDER THE SEBI (LODR) REGULATIONS 2015
INTRODUCTION:
The
Securities and Exchange Board of India
(SEBI) vide its Notification published in the official Gazette of India
dated September 2, 2015 had mandated all the Listed Entities through its SEBI (Listing Obligations and Disclosure
Requirements (LODR)) Regulations, 2015 to comply with certain general
obligations of compliance with effect from 01st December, 2015 and
the responsibility has been reposed on the key managerial personnel, directors,
promoters. A glimpse of the common obligations to be met with by listed
entities is reproduced below in a brief manner for your ready reference:
REGULATION 6 (1):
Appointment
of Compliance Officer – Qualified Company Secretary
REGULATION 7:
SHARE TRANSFER AGENT
|
OPTIONS
|
|
|
Appointment of
Share Transfer Agent
|
Maintenance of
In-house Share Transfer Facility.
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Note:
Whenever
the number of holders of securities of the listed entity exceeds One Lakh, the
listed entity shall register its In-house share transfer facility either as a
Category II Share Transfer Agent or appoint Registrar to an issue and share
transfer agent registered with the Board.
COMPLIANCE CERTIFICATE TO EXCHANGE:
Compliance
Certificate with reference to compliance of Regulation 7(2) - that all the
activities, both physical and electronic share transfer facility are maintained
in house or with registrar to an issue and share transfer agent, which are registered
with the Board, duly signed by both the Compliance Officer i.e Qualified
Company Secretary and the authorised representative of the share transfer agent
within one month of end of each half of the Financial Year i.e for the half
year ended September and March shall be submitted to the exchanges.
REGULATION 8:
DUTIES OF LISTED ENTITY TO
PROVIDE INFORMATION TO INTERMEDIARIES REGISTERED WITH THE BOARD:
Listed
entity is provided with a mandate by SEBI to provide necessary information and
to co-operate with the intermediaries registered with the Board, within the
timelines and procedures specified under the Act, regulations and circulars.
REGULATION 9:
PRESERVATION OF DOCUMENTS:
Mandatory
policy on:
1. Preservation
of documents which shall be permanent in nature and
2. Preservation
of documents for a period not less than eight years after completion of the
relevant transactions.
either in physical or electronic
mode approved by the Board of Directors.
REGULATION 10:
FILING OF INFORMATION THROUGH
ELECTRONIC PLATFORM:
The
listed entities are now required to file its reports, statements, documents,
filings and other information with stock exchanges on electronic platform and
it shall be the responsibility of the listed entity to put in place the
required infrastructure.
REGULATION 12:
PAYMENT OF DIVIDEND OR INTEREST OR REDEMPTION
OR REPAYMENT:
Listed
entity is now allowed to use the electronic mode of payment facility approved
by RBI for payment of (1) dividends (2) interest (3) redemption or repayment
amounts.
Payable
at Par warrants or cheques can be issued when:
·
Amount payable as dividend
exceeds one thousand and five hundred rupees.
·
Electronic mode of payment is not
possible.
REGULATION 13:
GRIEVANCE REDRESSAL MECHANISM:
Listed
entity shall file with stock exchanges on a quarterly basis, within 21 days
from the end of the quarter, a statement giving no of investor complaints
pending at the beginning of the quarter, those received during the quarter,
disposed of during the quarter and those remaining unresolved at the end of the
quarter.
The
statement as specified above shall be placed by each listed entity before the
board on a quarterly basis.
BY
ACS K VINOTH
FCS D HEM SENTHIL RAJ
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