Amendments in Securities Law
1. The SEBI Investor website and Saarthi App offer free tools and resources for Investor Awareness and Education
1. The SEBI Investor website and Saarthi App offer free tools and resources for Investor Awareness and Education
SEBI vide Press Release No. 01/2025 dated January 02, 2025, has informed that various tools and resources are available on its official investor website to enhance investor awareness and education, helping both new and existing investors navigate the securities market. Such tools are curated by different stakeholders and inter-alia consists of the following:
- Video Learning Repository;
- Spot a Scam;
- Check your Financial Health; and
- Financial Calculators.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/sebi-investor-website-and-saarthi-app-offer-free-tools-and-resources-for-investor-awareness-and-education_90467.html
2. Withdrawal of recognition granted to Indian Commodity Exchange Ltd.
SEBI, in its Press Release No. 02/2025 dated January 02, 2025, has announced the withdrawal of recognition granted to the Indian Commodity Exchange Limited (ICEX) following ICEX’s request for voluntary surrender and SEBI’s approval for its exit as a stock exchange, as per the SEBI order dated December 10, 2024.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/withdrawal-of-recognition-granted-to-indian-commodity-exchange-ltd-_90469.html
3. Measure for Ease of Doing Business - Settlement of Account of Clients who have not traded in the last 30 days
SEBI, in Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2025/1 dated January 06, 2025, has updated the settlement process for clients who haven’t traded in the last 30 days. Instead of settlement within the next 3 working days, their funds will now be settled on the upcoming monthly running account settlement dates, as per the exchange’s annual calendar.
This change, based on Brokers’ ISF recommendations, aims to improve efficiency and protect investor interests, modifying the Master Circular for Stock Brokers dated August 09, 2024.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/measure-for-ease-of-doing-business-settlement-of-account-of-clients-who-have-not-traded-in-the-last-30-days_90552.html
4. Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) –Timelines
SEBI, in Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2025/1 dated January 07, 2025, to promote Ease of Doing Business and bring about uniformity in dealing with rating reviews and publication of Press Release by CRAs, has modified the timelines from “days” to “working days” in respect of certain requirements prescribed in the Master Circular for CRAs dated May 16, 2024.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/measures-for-ease-of-doing-business-for-credit-rating-agencies-cras-timelines_90618.html
5. Guidelines for Investment Advisers
SEBI had notified the Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2024 which came into force from December 16, 2024.
Pursuant to these regulations SEBI in SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/003 dated January 08, 2025, has asked the Investment Advisers to comply with the amendments to the investment advisers’ regulations and the following guidelines specified under the investment advisers regulations viz:
- Deposit requirement;
- Registration both as Investment Adviser and Research analyst;
- Registration as a part-time investment adviser;
- Designation as ‘principal officer’;
- Appointment of an independent professional as Compliance Officer;
- Clarity in activities that can be undertaken by IAs – scope of investment Advice;
- Use of Artificial Intelligence (‘AI’) tools in IA services;
- Fees and flexibility in change of modes of charging fee to clients;
- Registration as a non-individual investment adviser;
- Client-level segregation of advisory and distribution activities;
- Agreement between IA and the client;
- Maintenance of record;
- Compliance audit requirements;
- Requirement of website and the details on the website;
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/guidelines-for-investment-advisers_90632.html
6. Guidelines for Research Analysts
SEBI had notified the Securities and Exchange Board of India (Research Analysts) (Third Amendment) Regulations, 2024 which came into force from December 16, 2024.
Pursuant to these regulations SEBI in SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025, has asked the Investment Advisers to comply with the amendments to the research analysts’ regulations and the following guidelines specified under the research analysts regulations viz:
- Qualification and certification requirements;
- Deposit requirement;
- Registration both as Investment Adviser and Research analyst;
- Registration as a part-time research analyst;
- Designation as ‘principal officer’;
- Appointment of an independent professional as Compliance Officer;
- Use of Artificial Intelligence (‘AI’) tools in RA services;
- Research services provided by a research analyst or research entity;
- Fees chargeable to clients by RAs;
- Client-level segregation of Research and distribution activities;
- Guidelines for recommendation of ‘model portfolio’ by RAs;
- Disclosure of terms and conditions to the client;
- KYC Requirements and maintenance of record;
- Compliance audit requirements;
- Requirement of website and the details on the website.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/guidelines-for-research-analysts_90634.html
7. Modification to Enhanced Supervision of Stock Brokers and Depository Participants
In February 2024, SEBI issued a consultation paper to seek public feedback on revising the nomination norms for Demat accounts and mutual fund (MF) folios. The goal is to prevent unclaimed assets in the Indian securities market. Following approval from the SEBI, amendments to the relevant regulations are being implemented to update the existing nomination process.
SEBI in Circular No. SEBI/HO/OIAE/OIAE_IAD-3/P/ON/2025/01650 dated January 10, 2025 (“the Circular”) has specified various aspects of nomination, grouped under two sections to be complied by the Asset Management Companies (AMCs) of Mutual Funds (MFs) and their Registrars to an issue and share Transfer Agents (RTAs), Association of Mutual Funds in India (AMFI), Recognized Depositories and Registered Depository Participants (“the Regulated Entities”). The Circular shall come into force on March 01, 2025.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/circular-on-revise-and-revamp-nomination-facilities-in-the-indian-securities-market_90698.html
8. Consultation paper on a proposal to increase the size criteria (set to guard against potential circumvention of Press Note 3 stipulations) in the additional disclosure framework
SEBI’s August 24, 2023 Circular requires certain FPIs with Assets Under Management over INR 25,000 crores to provide detailed disclosures of their investors/stakeholders on a look-through basis to prevent circumvention of Press Note 3. This requirement aims to reduce the risk of large FPIs disrupting the Indian securities market. Given the 122% rise in average daily turnover on the NSE from FY 2022-23 to FY 2024-25 (up to December 2024), SEBI proposes increasing the threshold from INR 25,000 crores to INR 50,000 crores to better align with market growth.
Accordingly, SEBI on January 10, 2025 has published a Consultation Paper for public comments on the above proposal. The comments were to be submitted latest by January 31, 2025.
The link to the aforesaid Consultation Paper is as follows:
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/consultation-paper-on-proposal-to-increase-the-size-criteria-set-to-guard-against-potential-circumvention-of-press-note-3-stipulations-in-the-additional-disclosure-framework_90696.html
9. SEBI and NISM Host ‘Samvad’ - A Symposium on Securities Market
SEBI, in its Press Release No. 03/2025 dated January 11, 2025, announced SEBI and NISM, in collaboration with NSE, BSE, NSDL, and CDSL, hosted the Samvad Symposium on 10-11 January 2025 in Mumbai, themed “Capital for Growth.” The event streamed live, gathered experts from government, regulators, industry, and academia to discuss the evolving dynamics of India’s securities market and its role in driving economic growth.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/sebi-and-nism-host-samvad-a-symposium-on-securities-market_90700.html
10. Consultation Paper on certain amendments to SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 with the objective of encouraging the dematerialization of securities and streamlining certain processes in view of current regulatory landscape
To promote the benefits of dematerialisation, SEBI has mandated that listed companies issue securities in demat form for public issues, transfers of physical securities, rights issues, and bonus shares, and maintain 100% of promoter and promoter group holdings in dematerialised form on a continuous basis.
However, companies can still issue physical securities for consolidation and subdivision or split of face value of securities, or pursuant to Scheme of Arrangement viz. merger, demerger and reconstruction etc.
Further, since April 01, 2019, physical share transfers have been discontinued, making certain provisions, like those under Regulation 40(4) and 40(5), for registration of transfers and related provisions and provisions under Schedule VII(B) regarding maintaining proof of delivery in case of differences in signature of share transferor(s) redundant.
In view of the above to further encourage dematerialisation, SEBI published a Consultation Paper on January 14, 2025, proposing amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The public comments are invited until February 4, 2025.
The link to the aforesaid Consultation Paper is as follows:
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/consultation-paper-on-certain-amendments-to-sebi-lodr-regulations-2015-with-the-objective-of-encouraging-dematerialization-of-securities-and-streamlining-certain-processes-in-view-of-current-regulato-_90753.html
11. SEBI and NISM launch an eLearning course on Municipal Bonds
SEBI, in its Press Release No. 04/2025 dated January 15, 2025, announced that SEBI has been organizing outreach programs on Municipal Bonds across India to promote urban infrastructure development.
Recently, at IIM Lucknow, SEBI and NISM launched an eLearning course aimed at equipping officials from Municipal Corporations and Urban Local Bodies with the knowledge and skills to effectively use Municipal Bonds for financing development projects. This initiative is part of SEBI’s ongoing efforts to strengthen India’s capital markets.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/sebi-and-nism-launch-an-elearning-course-on-municipal-bonds_90816.html
12. SMART 2025 – Highlights transformation of Indian Securities market through Technology
SEBI, in its Press Release No. 05/2025 dated January 16, 2025, announced that SEBI, along with market participants, organized the SMART 2025 Symposium in Mumbai to highlight India’s progress in securities market technology. The event featured global regulators and market participants, with a keynote address by Mr. Nandan Nilekani. SEBI has driven policy reforms to ensure efficient capital raising and investor protection, embracing technology to improve market access, reduce capital-raising timelines, and enhance investor services. Initiatives like T+1 settlement and online KYC have transformed the market. SEBI also focuses on cybersecurity to safeguard technology use. The event, attended by over 350 participants, celebrated these advancements and shared lessons learned.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/smart-2025-highlights-transformation-of-indian-securities-market-through-technology_90848.html
13. Disclosure of Risk adjusted Return - Information Ratio (IR) for Mutual Fund Schemes
SEBI in Circular No. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2025/6 dated January 17, 2025 has mandated the disclosure of “Risk Adjusted Return” (RAR) for mutual fund schemes, using the Information Ratio (IR) as a key financial metric. IR measures a scheme’s performance relative to its benchmark, considering volatility and the manager’s skill in generating excess returns. This initiative aims to improve transparency in mutual fund disclosures and help investors make better-informed decisions.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/disclosure-of-risk-adjusted-return-information-ratio-ir-for-mutual-fund-schemes-_90928.html
14. Timeline for Review of ESG Rating pursuant to the occurrence of ‘Material Events’
SEBI has modified the Master Circular for ESG Rating Providers (ERPs) to address operational challenges in reviewing ESG ratings after the publication of Business Responsibility and Sustainability Reporting (BRSR) by listed companies.
Instead of the previous 10-day timeline, ERPs now have up to 45 days to conduct the review, promoting ease of doing business. This change was implemented through SEBI Circular No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/007 dated January 17, 2025.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/timeline-for-review-of-esg-rating-pursuant-to-occurrence-of-material-events-_90930.html
15. Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds
SEBI’s December 2023 circular requires Stock Brokers (SBs) and Clearing Members (CMs) to upstream clients’ clear credit balances to Clearing Corporations (CCs) at the end of each day. Client funds can be upstreamed in cash, via liens on Fixed Deposits, or by pledging units of Mutual Fund Overnight Schemes (MFOS), which invest in low-risk, government-backed securities. To facilitate this, a proposal has been made to extend the cut-off time for MFOS repurchase/redemption from 3:00 PM to 7:00 PM, allowing SBs/CMs more time to un-pledge units and place redemption requests. This change ensures no impact on fund valuation or redemption capabilities. Accordingly, SEBI published a Draft Circular for public comments on January 20, 2025 inviting public comments on the aforementioned proposal. The public comments are invited until February 10, 2025.
The link to the aforesaid Draft Circular is as follows
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/consultation-paper-on-draft-circular-for-change-in-cut-off-timings-to-determine-applicable-nav-with-respect-to-repurchase-redemption-of-units-in-overnight-schemes-of-mutual-funds_90978.html
16. Consultation Paper on Review of Framework for Social Stock Exchange
SEBI on January 20, 2025 published a Consultation Paper inviting comments/views / suggestions from the public and other stakeholders on various proposals of the Social Stock Exchange Advisory Committee (SSEAC) to review the framework for the Social Stock Exchange (SSE).
The proposals of the SSEAC have been explained in detail in the Consultation Paper.
The public comments are invited until February 10, 2025.
The link to the aforesaid Consultation Paper is as follows:
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/consultation-paper-on-review-of-framework-for-social-stock-exchange_91022.html
17. Consultation Paper on Promoting Financial Inclusion through Sachetisation of Investment in Mutual Fund Schemes
SEBI, in collaboration with the Mutual Fund industry, has proposed the sachetisation of mutual funds to promote financial inclusion, particularly for low-income groups. This initiative introduces small-ticket Systematic Investment Plans (SIPs) of Rs. 250, allowing individuals to invest in mutual funds gradually.
The proposal aims to increase mutual fund reach across the country, especially in underserved areas. Industry participants have agreed to offer discounted rates to reduce costs for Asset Management Companies (AMCs), with certain expenses reimbursed from the Investor Education and Awareness Fund.
This initiative is expected to help AMCs break even within two years and encourage broader financial inclusion.
Accordingly, SEBI published a Consultation Paper for public comments on January 22, 2025 inviting public comments on the above-mentioned proposal. The public comments are invited until February 06, 2025.
The link to the aforesaid Consultation Paper is as follows:
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/consultation-paper-on-promoting-financial-inclusion-through-sachetisation-of-investment-in-mutual-fund-schemes_91106.html
18. SEBI launches ‘Dharohar - Milestones in the Indian Securities Market’ A Digital Knowledge Repository
SEBI, in its Press Release No. 06/2025 dated January 26, 2025, announced the launch of a digital knowledge repository, “Dharohar – Milestones in the Indian Securities Market”.
Dharohar, an initiative by SEBI, showcases the rich 150-year history and evolution of the Indian securities market. The dynamic online repository includes over 3,000 assets such as articles, interviews, videos, and historic documents.
It features an interactive timeline and 3D galleries for an engaging experience aimed at students, investors, researchers, and the public. SEBI thanks contributors like industry leaders and former officials.
The repository continues to grow, aiming to enhance awareness and understanding of India’s securities market and can be accessed at https://www.mism.org.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/sebi-launches-dharohar-milestones-in-the-indian-securities-market-a-digital-knowledge-repository_91167.html
19. Investor Charter for Stock Brokers
SEBI’s Investor Charter for stock brokers, issued in December 2021, outlines key services, investor rights, stock broker activities, timelines, and grievance redressal mechanisms. To further enhance financial consumer protection, inclusion, and literacy, SEBI is reviewing the charter, considering recent developments like the Online Dispute Resolution (ODR) platform and SCORES 2.0.
Accordingly, SEBI published a Draft Circular for public comments on January 28, 2025 inviting public comments on the draft of the circular to be published as an Investor Charter for Stock Brokers. The public comments are invited until February 17, 2025.
The link to the aforesaid Draft Circular is as follows:
https://www.sebi.gov.in/reports-and-statistics/reports/jan-2025/investor-charter-for-stock-brokers_91220.html
20. Development of Web-based portal: iSPOT (Integrated SEBI Portal for Technical glitches) for reporting of technical glitches
SEBI in Circular No. SEBI/HO/MRD/TPD/CIR/P/2025/08 dated January 28, 2025 announced the has introduction of a web-based portal, iSPOT, to streamline the reporting of technical glitches by Market Infrastructure Institutions (MIIs) like Stock Exchanges, Clearing Corporations, and Depositories.
This portal allows MIIs to submit preliminary and Root Cause Analysis (RCA) reports, improving data quality, traceability, and compliance monitoring. MIIs can access iSPOT using their existing login credentials from SEBI’s Intermediary (SI) portal.
The requirement to submit technical glitch reports has been updated across various SEBI master circulars, with submissions now to be made through iSPOT.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/development-of-web-based-portal-ispot-integrated-sebi-portal-for-technical-glitches-for-reporting-of-technical-glitches_91215.html
21. Format of Due Diligence Certificate to be given by the DTs
SEBI, through its notification on July 10, 2024, amended the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, to specify the format of the due diligence certificate for both secured and unsecured debt securities.
While the format for secured debt securities was already outlined in the Master Circular for Debenture Trustees, the format for unsecured debt securities was not. In response, SEBI issued Circular No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/009 on January 28, 2025, specifying the due diligence certificate formats to be submitted by issuers at the time of filing the draft offer document and listing application for unsecured debt securities.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/development-of-web-based-portal-ispot-integrated-sebi-portal-for-technical-glitches-for-reporting-of-technical-glitches_91215.html
22. Details/clarifications on provisions related to association of persons regulated by the Board, MIIs, and their agents with persons engaged in prohibited activities
The SEBI amended multiple regulations on August 29, 2024, such as the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 and the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.
These amendments restrict persons regulated by SEBI, including MIIs (stock exchanges, clearing corporations, depositories), and their agents from associating with individuals or entities that provide unregistered investment advice or make unapproved claims about returns related to securities.
However, the restriction does not apply to those solely engaged in investor education, as long as they do not participate in prohibited activities.
Accordingly, in this regard SEBI in Circular No. SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/11 dated January 29, 2025 has issued details/clarifications on the provisions of the above-mentioned regulations in the form of frequently asked questions.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/details-clarifications-on-provisions-related-to-association-of-persons-regulated-by-the-board-miis-and-their-agents-with-persons-engaged-in-prohibited-activities_91356.html
23. (1) Parameters for external evaluation of Performance of Statutory Committees of Market Infrastructure Institutions (MIIs); and
(2) Mechanism for internal evaluation of Performance of MIIs and its Statutory Committees
Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 and SEBI (Depositories and Participants Regulations, 2018 requires every recognised Stock Exchange, recognised Clearing Corporation and Depository (collectively referred as Market Infrastructure Institutions (MIIs)) to constitute the following statutory committees:
1. Functional Committees:
- Member Committee; and
- Nomination and Remuneration Committee.
2. Oversight Committees
- Standing Committee on Technology;
- Regulatory Oversight Committee; and
- Risk Management Committee.
In order to bring consistency and uniformity with respect to evaluations SEBI in Circular No. SEBI/HO/MRD/POD-III/CIR/P/2025/12 dated January 30, 2025 has inter-alia provided for the following:
- Minimum criteria for the independent external evaluation of performance of Statutory Committees of MIIs;
- Rating framework to ensure consistency in the manner of assessment and outcomes across Statutory Committees of similar MIIs, compare performance of such Committees and monitor trends over time;
- Principles for appointment of Independent External Agency; and
- Timelines for External Evaluation.
The link to the aforesaid Circular is as follows:
https://www.sebi.gov.in/legal/circulars/jan-2025/parameters-for-external-evaluation-of-performance-of-statutory-committees-of-market-infrastructure-institutions-miis-and-mechanism-for-internal-evaluation-of-performance-of-miis-and-its-statutory-c-_91404.html
24. Commodities Derivative Segment
SEBI, in its Press Release No. 07/2025 dated January 31, 2025, announced that the suspension of trading in derivative contracts for commodities like Paddy (non-basmati), Wheat, Chana, Mustard seeds, Soybean, Crude Palm Oil, and Moong, which was initially set to end on December 20, 2022, has been extended several times. The latest extension now applies until March 31, 2025.
The link to the aforesaid Press Release is as follows:
https://www.sebi.gov.in/media-and-notifications/press-releases/jan-2025/commodities-derivatives-segment_91422.html
25. Notification under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007
SEBI in terms of Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 vide notification dated June 19, 2013 and January 27, 2014 had prescribed the certifications required to be obtained by investment advisers and their associated persons, including their partners and representatives, offering investment advice.
Now SEBI vide Notification No. No. SEBI/LAD-NRO/GN/2025/223 dated January 02, 2025 has prescribed the certification to be obtained by an individual investment adviser or principal officer of a non-individual investment adviser, persons associated with investment advice and the partners of an investment adviser being a partnership firm, who are engaged in providing investment advice.
The link to the aforesaid Notification is as follows:
https://egazette.gov.in/(S(2axs131cur1tckcfhogib2y1))/ViewPDF.aspx
26. FAQs published by SEBI
SEBI has published the following FAQs in January 2025:
- FAQs for grant of registration as Alternative Investment Fund (AIF) & taking on record the Private Placement Memorandum (PPM) of the Scheme; and
- FAQs on ESG Rating Providers (ERPs).
The links to the aforesaid FAQs as follows:
27. Implementation of recommendations of the Expert Committee for facilitating ease of doing business for listed entities- Disclosure of Integrated Filing- Governance.
BSE vide Notice No. 20250113-56 and NSE vide Circular No. NSE/CML/2025/03 dated January 13, 2025 with regard to SEBI circular dated December 31, 2024 regarding implementation of recommendations of the Expert Committee for facilitating ease of doing business for listed entities has announced that XBRL utility for Integrated Filing- Governance will be made available with effect from January 14, 2025, in the XBRL section of the Listing Centre of BSE and on NEAPS on the below path:
Compliance >> Common XBRL Upload >> Integrated Filing >> Integrated Filing- Governance
Further, the listed entities to note as follows:
- The listed entities shall submit the Integrated Filing- Governance only in XBRL formwithin the prescribed timelines.
- PDF disclosure for the Integrated Filing- Governance in the Corporate Announcement,is not required to be filed effective from January 14, 2025.
- The listed entities shall continue to submit the existing Corporate Governance Report and Investor Grievance Report in XBRL formas per the current process along with the new Integrated Filing- Governance utility, within the new timelines, till further notice.
- The listed entities who have already submitted Integrated Filing- Governance in PDF file, may submit the same in XBRL form as aforementioned in point no. a.
The links to the aforesaid BSE Notice and NSE Circular are as follows:
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20250113-56