Sebi may extend relief to NCDs from sending physical financial statements

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Sebi may extend relief to NCDs from sending physical financial statements - Business Standard

Quick Summary:

Based on the MCA's extension and stakeholder requests, Sebi proposed "no penal" action for entities having listed non-convertible securities for not sending physical copies of financial statements, including the board's report, the auditor's report and other documents.

In its consultation paper, the regulator has proposed extending an exemption pertaining to Regulation 58(1)(b), which mandates sending hard copies of financial statements and related documents to holders of non-convertible securities who have not registered their email addresses.

Markets regulator Sebi on Monday proposed limited relaxation to issuers of listed non-convertible debt securities from the requirement to send hard copies of key financial documents to investors.