May 03, 2018
Circular on non-compliance with certain provisions of the SEBI
SEBI has today issued a circular on non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and the Standard Operating Procedure for suspension and revocation of trading of specified securities (“Circular”). The said circular is attached herewith for your reference.
Please note that the said Circular will supersede SEBI’s earlier circulars bearing reference numbers CIR/CFD/CMD/12/2015 dated November 30, 2015 and SEBI/HO/CFD/CIR/P/2016/116 dated October 26, 2016 on the same subject.
In today’s Circular, SEBI has laid out actions to be undertaken by stock exchanges in case of non-compliances with the Listing Regulations, including quantum of fines to be imposed, and the Standard Operating Procedure to be followed for suspension and revocation of suspension of trading of specified securities.
Further, the Circular provides that on receipt of intimation from the concerned recognized stock exchanges, the depositories, shall freeze or unfreeze, as the case may be, the entire shareholding of the promoter and promoter group in non-compliant listed entity as well as all other securities held in the demat account of the promoter and promoter group.
For any details and clarifications, please feel free to write to: