Securities Exchange Board of India (‘SEBI’) vide its Circular reference no SEBI/HO/CFD/CMD-2/P/CIR/2021/567 dated May 31, 2021, has notified amendment in the quarterly format of Compliance report on Corporate Governance to be submitted by listed entities.
As per the Regulation 27 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified from time to time, the listed entity shall submit a quarterly compliance report on corporate governance in the format as specified by the SEBI from time to time to the recognised stock exchange(s) within fifteen days from close of the quarter.
The format for compliance report on Corporate Governance by listed entities has been specified, as per the following annexures, vide Circular No. CIR/CFD/CMD/5/2015 dated September 24, 2015 and modified vide Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/78 dated July 16, 2019.
In order to bring about transparency and to strengthen the disclosures around loans/ guarantees/comfort letters/ security provided by the listed entity, directly or indirectly to promoter/ promoter group entities or any other entity controlled by them, SEBI vide aforesaid circular has been decided to mandate such disclosures on a half yearly basis, in the Compliance Report on Corporate Governance. The format of disclosure in this regard is specified vide Annex -IV of the said report and shall be effective from financial year 2021-22, as notified by aforesaid Circular.
Accordingly, the format for compliance report on Corporate Governance shall be as under:
- Annex I. – on quarterly basis;
- Annex II – at the end of a financial year
- Annex III – at the end of 6 months from the close of financial year
- Annex IV – on a half yearly basis (w.e.f. first half year of the FY 21 – 22)
The said circular can be accessed at the following link: 1622459811618.pdf (sebi.gov.in).
