Repeal of circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014, involving offer / allotment of securities to more than 49 but up to 200 investors in a financial year.

• Notice No: 20240318-54
• Notice Date: 18 Mar 2024
• Category: Circulars Listed Companies
• Segment: General

Dear Sir\Madam

The Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/CFD/PoD-1/P/CIR/2024/ 016 dated March 13, 2024, regarding Repeal of circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014, involving offer / allotment of securities to more than 49 but up to 200 investors in a financial year.

It has now been decided to repeal the SEBI circulars No. CIR/CFD/DIL3/18/2015 dated December 31, 2015, and Circular No. CFD/DIL3/CIR/ P/2016/53 dated May 03, 2016, and the same shall stand rescinded with effect from 6 months from the date of issue of this circular, without prejudice to the operation of anything done or any action taken under the said circulars.

Accordingly, all cases involving an offer or allotment of securities to more than the permissible number of investors in a financial year shall be dealt with in line with the provisions contained under the extant applicable laws.

The aforesaid circular is attached for reference.

All Listed companies are requested to take note and comply accordingly.  

Ashok kumar Singh   DGM-Listing Compliance

Smita Dave     Manager-Listing Compliance