Introduction:
Bombay Stock Exchange (‘BSE’) & National Stock Exchange (‘NSE’) have vide its circular dt: March 29, 2023 has directed listed entities to whom the provisions of Regulation 24A of SEBI(LODR) Regulations, 2015 are not applicable, to continue to submit SDD Compliance certificate on quarterly basis, within 21 days from end of each quarter on the specified path: BSE Listing Centre > Listing Compliance > Compliance Module > Structured Digital Database (SDD) Compliance Certificate and for NSE listed entities SDD certificate shall be submitted at sdd_pit@nse.co.in email id.
Background:
Stock Exchanges had initially sent emails to listed entities on August 5, 2022 asking prior to this have vide its circulars directed all listed entities to submit SDD certificate. Further Stock Exchanges have issued various circulars specifying timelines for submission of SDD Compliance certificate and action to be taken against compliances which are found to be non-complaint with above mentioned regulations
BSE and NSE had vide their Circular No. 20230316-14 dated March 16, 2023 stated that entities to who are required to submit Annual Secretarial Compliance Report (ASCR) as per provisions of Reg 24A of SEBI (LODR) will have to submit the same in new format. This new format requires the Practicing Company Secretary (‘PCS’) to inter-alia certify compliance with Reg 3(5) and Reg 3(6) of SEBI PIT. With this there is now clarity as to which all listed entities will have to submit SDD certificate and which all entities will have to certify compliance with Reg 3(5) and Reg. 3(6) of SEBI PIT.
This circular is effective from 29th March 2023 with immediate effect.
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20230329-21
https://static.nseindia.com//s3fs-public/inline-files/NSE_CIRCULAR_29032023.pdf
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