On November 23, 2021, the Securities and Exchange Board of India (SEBI) has issued a circular on Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 by making amendment in circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/94 dated August 19, 2019, specifying the fines to be imposed by the Stock Exchanges for non-compliance with certain provisions of SEBI (ICDR) Regulations, 2018.
The following amendment has been made:
• Paragraph 9A has been inserted, namely:
“9A. The Stock Exchanges may deviate from the provisions of the circular, wherever the interest of the investors are not adversely affected, if found necessary, only after recording reasons in writing.”
Read the circular HERE