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of <h1>Securities regulator postpones Phase III implementation of January 10, 2025 nomination circular; earlier phased timelines remain unchanged</h1> The securities regulator defers the Phase III implementation timeline of its January 10, 2025 circular on revised nomination facilities for the Indian securities market. Earlier timelines, modified by circulars dated February 28, 2025 and July 30, 2025, had shifted implementation in phases up to December 15, 2025. Following further representations citing structural and operational challenges, including system and process readiness, the Phase III implementation date of December 15, 2025 is now postponed to a future date to be separately notified. All other provisions of the earlier nomination-related circulars remain unchanged, and this circular takes immediate effect.
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