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SEBI issued Circular No. SEBI/HO/CFD/CMD/CIR/P/2018/77 Dt. 03.05.2018 in supersession of the Circulars dated November 30, 2015 and October 26, 2016.

SEBI on Thursday, 3rd May, 2018 issued Circular No. SEBI/HO/CFD/CMD/CIR/P/2018/77 in supersession of the Circulars bearing reference numbers CIR/CFD/CMD/12/2015 dated November 30, 2015 and SEBI/HO/CFD/CIR/P/2016/116 dated October 26, 2016  to maintain consistency and to adopt a uniform approach in the matter of levy of fines for non-compliance with certain provisions of the Listing Regulations, the manner of suspension of trading of securities of a listed entity and the manner of freezing the holdings of the promoter and promoter group of a non-compliant listed entity. Henceforth, the stock exchanges shall, having regard to the interests of investors and the securities market:

  1. a) take action in case of non-compliances with the Listing Regulations as specified in Annexure I of this Circular, and.
  2. b) follow the Standard Operating Procedure (“SOP”) for suspension and revocation of suspension of trading of specified securities as specified in Annexure II of this Circular.

This Circular shall come into force with effect from compliance periods ending on or after September 30, 2018.

The said Circular can be accessed from the following link: SEBICircular_03.05.2018_Non Compliance of LODR

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