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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024

12-Dec-2024 | SEBI/LAD-NRO/GN/2024/218

SEBI has notified Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024, effective from 13th December 2024. Key highlights- 1. The definition of Half Year as specified in Regulation 2(1)(k) is omitted. 2. The requirement of submitting a compliance certificate to the exchange, signed by Compliance Officers and Share Transfer Agents as specified in Regulation 7(3) is omitted. 3. The mandatory timeline of 21 days from the end of each quarter for filing the statement of investors' complaints as specified in Regulation 13(3) is removed and the substituted Regulation 13(3) now reads as under- "The listed entity shall file with the recognized stock exchange(s) on a quarterly basis a statement detailing the redressal of investor grievances in such form and within the timelines as may be specified by the Board." 4. After clause (d) in the second proviso to Regulation 25(2), clarification regarding remuneration and sitting fee paid to directors, KMP etc. is inserted, which is as follows- The remuneration and sitting fee paid to the directors or KMP or senior managers, except those who are a part of the promoter or promoter group, shall not require approval of the audit committee if its not material in terms of Regulation 23(1). (Clause (e) of Second Proviso of Regulation 23(2)) 5. The timeline for sending of Annual Report i.e. 21 days before the annual general meeting as specified in Regulation 36(2) is deleted. Kindly refer to the attached document for more information.

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