On SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To consolidate and streamline the various post listing requirements (existing under the Listing Agreement and diverse SEBI Circulars) to be made strictly by the listed companies in India for different segments of the capital market, into one single and comprehensive document; to foster investor confidence; and finally to ease doing business in India through listed companies, SEBI on September 02, 2015, notified the Listing Regulations of 2015. All provisions of this SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been put into effect since December 01, 2015. The following are some basic and clarifying questionnaires on this SEBI Listing Regulations, 2015.
- Which Segments of the Indian Capital Market are covered by the SEBI Listing Regulations (LR) of 2015 ?
- The applicable Accounting Standards or the CA of 2013, Which Clarifies Better a "Related Party" ?
- What is the Provision in LR of 2015 Regarding Disclosures relating to Events or Information?
- Do Both the Listed Parent Company and its Subsidiary Require to make Disclosures Separately ?
- Can UN-Audited Annual Financial Results be Filed Also in the Last Quarter?
Which Segments of the Indian Capital Market are covered by the SEBI Listing Regulations (LR) of 2015 ?
This latest set of provisions and norms issued by SEBI (The Securities Exchange Board of India) encompasses all main and broad principles for the periodic disclosures to be made by the listed companies, along with laying proper emphasis on the corporate governance principles, and applies to all various types of listed securities on the recognized stock exchanges of India. These segments include Convertible and Non-Convertible Equities; Non-Convertible Debt Securities; Non Convertible Redeemable Preference Shares, Indian Depository Receipts, Securitized Debt Instruments, and the Units issued by Mutual Fund Schemes.
The applicable Accounting Standards or the CA of 2013, Which Clarifies Better a "Related Party" ?
The definition of "Related Party" and that of "Associate Company" provided in the Regulation 2(1) of the SEBI LR of 2015, should preferably be viewed under both the Companies Act of 2013 and the Accounting Standards.
What is the Provision in LR of 2015 Regarding Disclosures relating to Events or Information?
All disclosures related with events and information made to stock exchange(s) on and after December 01, 2015 by a listed company, should also be disclosed on the website of the listed entity for a minimum period of five years, as per the Regulation 30(8) of the SEBI Listing Regulations of 2015.
Do Both the Listed Parent Company and its Subsidiary Require to make Disclosures Separately ?
As per Regulation 30(9) of the SEBI LR of 2015, both the listed holding company and the listed material subsidiary shall have to make the disclosures separately in their own right as listed entities.
Can UN-Audited Annual Financial Results be Filed Also in the Last Quarter?
Only well-audited financial results shall be submitted to the stock exchanges by the listed company within sixty days from the end of the last quarter of the year concerned, according to Regulation 33(3)(d) of the Listing Regulations of 2015.