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

CDSL - Reiteration of SEBI Circular regarding Master Circular for Framework on Social Stock Exchange (SSE)

23-Jan-2026 | CDSL/OPS/DP/POLCY/2026/52

CDSL has reiterated the SEBI Master Circular for Framework on Social Stock Exchange (SSE). Key Highlights are as follows: 1. The process for the public issuance of Zero Coupon Zero Principal (ZCZP) Instruments by a not-for-profit organisation has been specified in Para 1.2, which includes the filing of a draft fund raising document, provision for observation on the draft fund raising document, as well as filing of the final fund raising document. 2. The Annual Disclosures required to be made on the SSE by the entity that has either raised funds through SSE or is registered with SSE as per Regulation 91of the SEBI (LODR) Regulation. 3. Chapter II of the Master Circular provides the provisions for Self-Regulatory Organisations for Social Impact Assessor. 4. The Annual Impact Report is required to be assessed by the Social Impact Assessors, and the Social Enterprises shall disclose the report ofthe Social Impact Assessors along with it. (Para 1.7.8.) 5. With the issuance of this Master Circular, all directions/instructions contained in the circulars listed out in the Appendix to the Master Circular shall stand rescinded to the extent they relate to the framework for Social Stock Exchange. Kindly refer to the attached document for more information.

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