SEBI modifies the format for compliance report on corporate governance submitted to stock exchanges by listed entities

Jul 17, 2019 | by Avantis RegTech Legal Research Team

The Securities Exchange Board of India (SEBI) on July 16, 2019, has issued a Circular in order to modify the SEBI Circular No. CIR/CFD/CMD/ 5 /2015 dated September 24, 2015, only to the extent to the format for compliance report on Corporate Governance. 

The Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifies that a listed entity shall submit a quarterly compliance report on corporate governance in the format specified by the Board from time to time to recognised Stock Exchange(s) within fifteen days from close of each quarter. Upon several recommendations regarding necessitate changes to the format of the quarterly compliance report, SEBI has modified the format for compliance report.

The formats for Compliance Report on Corporate Governance as per Annexure I, II and III to this circular are being prescribed:- 

• Annex - I - on quarterly basis; (Page 3)

• Annex - II - at the end of a financial year (for the whole of financial year); (Page 6)

Annex - III - within six months from end of a financial year. (Page 10)

This may be submitted along with the second quarter's report. The circular shall come into force with effect from the quarter ended September 30, 2019.

[Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/78]


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