TikTok owner to suffer loss of around $6 billion due to India's ban Bombardier Transport bags contract for supply of 67 trains in Kanpur and Agra Metro project Air France to cut 7,500 job due to Coronavirus pandemic Record fertilizer sale of 111.61 lakh MT recorded during Lockdown (See 'Corpbrief') Haryana to provide tap connections to all rural households by Dec, 2022 (See 'Corpbrief') Intel Capital to invest Rs. 1,894.50 crore in Jio Platforms (See 'Brief') New STP - Business captains call for dovetailing industry & academia (See 'Brief') ICMR encourage Bharat Biotech to introduce coronavirus vaccine by August 15, 2020 Muthoot Finance Board to consider stock split proposal on July 18, 2020 Cadila Health shares shoots up after its covid vaccine gets DCGI nod Jal Jeevan Mission: 19 lakh households provided tap connections during Lockdown (See 'Brief') Fit India - Sports heroes to speak to school children from today (See 'Brief') Movement of record 73 fertiliser rakes in a single day on June 30: Govt (See 'Brief') SEBI (Issue Of Capital And Disclosure Requirements) (Third Amendment) Regulations, 2020 (See 'Dashboard') SEBI - Noticee placed its first sell order well after when CNTV 18 started covering story of MFL: SEBI (See 'Legal Desk') Arbitration and Conciliation - There is no reason to decline enforcement of award if judgment debtors does not file any objections to enforcement pettion and decree holder fulfils all requirement u/s 47: HC (See 'Legal Desk') SEBI (Substantial Acquisition Of Shares And Takeovers) (Third Amendment) Regulations, 2020 (See 'Dashboard') SEBI (Issue Of Capital And Disclosure Requirements) (Third Amendment) Regulations, 2020 (See 'Dashboard') Trade Marks Act - When marks LULIBET and LABEBET are compared as whole, defendant's mark is phonetically, visually and structurally similar to that of plaintiff mark: HC (See 'Legal Desk') Trade Marks Act - Term 'magic' is not an invented or distinctive word & as it qualifies as laudatory word, such term cannot be monopolised as it is common to trade: HC (See 'Legal Desk') IBC - Civil court has jurisdiction to entertain suit against corporate debtor in case of infringement of copyright even if insolvency proceedings are pending before NCLT: HC (See 'Legal Desk') MCA21 Ticketing and Voice Help Desk is functional now In order to settle kickback charges in US, Novartis pays $729 million Patanjali gets nod to sell 'Coronil kit' as immunity booster Gowda reviews progress of RFCL's Ramagundam project (See 'Corpbrief') Petroleum Products demand limping back to normal (See 'Corpbrief') Relaxation from compliance to REITs and InvITs due to the CoVID-19 virus pandemic (See 'Dashboard') Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default (See 'Dashboard') IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2020 (See 'Dashboard') Special liquidity scheme for NBFCs/HFCs (See 'Dashboard') A boiler blast at Tamil Nadu's Neyveli Lignite Power Plant and kills six people Hero MotoCorp's June sales decline by 26% DHL temporarily suspends picking up import shipments from China to India SLS Trust for Recovery of Debts and Bankruptcy Act (See 'Dashboard') Collection of stamp duty on issue, transfer and sale of units of AIFs (See 'Dashboard') Indian Oil, NTPC & SDMC ink MoU for Waste to Energy plant in Delhi (See 'Brief') India's AI-enabled MyGov Corona Helpdesk bags two awards at Global Summit (See 'Brief')

SECURITIES AND EXCHANAGE BOARD OF INDIA

CIRCULAR NO

SEBI/HO/MIRSD/DOP/CIR/P/2020/112, Dated: June 30, 2020

To,
1. All Recognised Stock Exchanges and Clearing Corporations (including those in International Financial Services Centres)
2. All Depositories
3. Trading members / Clearing Members through Stock Exchanges and Clearing Corporations (including those in International Financial Services Centres)
4. Depository Participants through Depositories
5. Registrars to an Issue & Share Transfer Agents (RTA)

Subject: Relaxation in timelines for compliance with regulatory requirements

1. In view of the situation arising due to COVID-19 pandemic, lockdown imposed by the Government and representations received from the Depositories, SEBI had earlier provided relaxations in timelines for compliance with various regulatory requirements by the depository participants (DPs) / Registrars to an Issue & Share Transfer Agents (RTAs), vide circular nos. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020, and SEBI/HO/MIRSD/DOP/CIR/P/2020/72 dated April 24, 2020.

2. In view of the prevailing situation due to COVID-19 pandemic and representation received from the Depositories, it has been decided to further extend the timelines for compliance with the regulatory requirements by DPs / RTAs, mentioned in the SEBI circulars, as under:

Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020.
S. No. in circular for which timeline is extended further
Extended timeline / Period of exclusion
Processing of the demat request form by Issuer / RTA.
I
Period of exclusion shall be from March 23, 2020 till July 31, 2020.
A 15-day time period after July 31, 2020 is allowed to Depository / DPs, to clear the back log.
Processing of the demat request form by the Participants.
II

Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/72 dated April 24, 2020.
S. No. in circular for which timeline is extended further
Extended timeline / Period of exclusion
Submission of half yearly Internal Audit Report (IAR) by DPs for half year ended on 31st March 2020.
II
July 31, 2020, for half year ended on March 31, 2020.
Redressal of investor grievances.
III
Period of exclusion shall be from March 23, 2020 till July 31, 2020.
A 15-day time period after July 31, 2020 is allowed to Depository / DPs, to clear the back log.
Transmission of securities.
IV
Closure of demat account.
V

3. Vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/101 dated June 19, 2020, SEBI, inter-alia, extended the timeline for Reporting of Artificial Intelligence and Machine Learning by Trading Members (TM) / Clearing Members (CM) till July 31, 2020 for the quarter ended on March 31, 2020. In view of the representation received from the Stock Exchanges, the timeline for Reporting of Artificial Intelligence and Machine Learning by Trading Members (TM) / Clearing Members (CM) is extended till July 31, 2020 for the quarter ending on June 30, 2020.

4. All other conditions specified in the aforementioned circulars shall continue to remain applicable.

5. Stock Exchanges, Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites.

6. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.

D Rajesh Kumar
General Manager
Market Intermediaries Regulation and Supervision Department

TIOL CORP SEARCH

TIOL GROUP WEBSITES