(1.) Revised Formats
under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
SEBI Circular:
Circular No: SEBI/HO/CFD/DCR1/CIR/P/2016/52 dated
May 2, 2016
Applicability:
To all the listed companies.
Crux of the Circular
-
SEBI
vide its circular no SEBI/CFD/DCR/SAST/1/2011/09/23 dated September 23, 2011
had prescribed the format for report to be furnished to stock changes under Regulation
10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations
2011.
-
While
filing the reports the acquirers were also required to file the compliance
report under Chapter V of the regulations.
-
As
no time frame was mentioned in the format for reporting, this circular was
issued to remove the said difficulty.
-
As
per this circular the compliance should be reported for a period of 3 years.
-
The
formats have been revised accordingly.
Source:
(2.) Procedure to
deal with cases prior to April 1, 2014 involving offer/ allotment of securities
to more than 49 and upto 200 investors in a financial year
SEBI Circular:
Circular No: CFD/DIL 3/CIR/P/2016/53 dated May 3,
2016
Applicability:
To all the listed companies.
Crux of the Circular
- Earlier
as perSEBI’s circular (circular no CIR/CFD/DIL 3/ 18/ 2015 dated December 31,
2015) while dealing with cases involving offer/ allotment of securities to more
than 49 to 200 persons, as a procedure a compliance certificate from an
independent peer reviewed practicing chartered accountant was mandated.
-
As
per this circular SEBI has not permitted to obtain this compliance certificate
from an independent peer reviewed practicing Company Secretary also.
Source:
(3.) Disclosure of
the Impact of Audit qualifications by the Listed Entities
SEBI Circular:
Circular No: CIR/CDF/CMD/56/2016 dated May 27,
2016
Applicability:
To all the listed companies.
Crux of the Circular
-
Through
this circular SEBI as a process of streamlined the existing procedure with
regard to reviewing the audit qualifications contained in the audit reports of
the listed entities has,
o directed the listed companies to
disseminate the cumulative impact of all the audit qualifications in a separate
format.
o Presenting the audit qualifications
in a separate format will facilitate the investors in making informed
investment decisions as the information would be made available to the
investors without any delay.
Source:
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