Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in respect of Rights Issue

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....pril 21, 2020 To All Recognized Stock Exchanges All Registered Merchant Bankers Dear Sir/Madam, Sub: Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in respect of Rights Issue. 1. In the wake of developments relating to the Covid-19 pandemic, a number of suggestions have been received by SEBI from industry bodies an....

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....extended as follows: (i) In regulation 99(a) the words 'three years' shall be read as 'eighteen months' (ii) In regulation 99(c) the words 'two hundred and fifty crores' shall be read as 'one hundred crores' (iii) In regulation 99(f) and its proviso the words 'three years' shall be read as 'eighteen months' (iv) Regulation 99(h) shall be read as under: "no show-cause notices, ....

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....ttled any alleged violation of securities laws through the consent or settlement mechanism with the Board" (vi) In regulation 99 (j) the words 'three years' shall be read as 'eighteen months'. (vii) Regulation 99 (m) shall be read as "For audit qualifications, if any, in respect of any of the financial years for which accounts are disclosed in the letter of offer, the issuer shall provide th....

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....eshold required for not filing draft letter of offer with SEBI: In regulation 3(b), proviso to regulation 3 and in regulation 60, the words 'ten crores' shall be read as 'twenty-five crores'. The eligibility and general conditions as specified in Regulation 61 & 62 respectively shall continue to apply. 3. These temporary relaxations are applicable for Right Issues that open on....