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SEBI has made mandatory to file announcements using digital signature certification to the Exchange.

CIRCULAR ON USE OF DIGITAL SIGNATURE CERTIFICATE FOR ANNOUNCEMENTS SUBMITTED BY LISTED COMPANIES

• As per Regulation 10 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (LODR), all listed companies are required to file reports, statements, documents, filings, and any other information with the recognized Stock Exchange on the electronic platform as specified by the Board or the recognized Stock Exchange.
• Some of the disclosures are Shareholding Pattern, Financial Results, Outcome of Board Meeting, Annual Report, etc.
• SEBI has received a representation from the Institute of Company Secretaries of India (ICSI) stating that due to the COVID pandemic company secretaries face operational challenges in carrying out certification and authentication of documents in physical form.
• Therefore to ease in certification and authentication of documents Sebi has provided an electronic platform namely the National Stock Exchange Electronic Application Processing System (NEAPS) and the digital portal to file the same using a digital signature certificate by the professionals.
• The listed company can log in to the portal by using the unique id and password provided by the SEBI.
• This facility of using a digital signature certificate was valid till December 2021 as per circular No. SEBI/HO/CFD/CMD1/P/CIR/2021/556 dated April 29, 2021.
• But now considering the advantages of this system and the feedback it has received from the professionals, the stock exchange in consultation with SEBI has now made it compulsory to file the announcements under SEBI regulations by using a digital signature certificate. circular number NSE/CML/2022/39 dated August 2, 2022.

Further following disclosures/events are not to be disclosed through the same which are:

• The outcome of the Board meeting includes only financial results.
• Any disclosure in which document issued by an entity other than the listed company is included (For e.g., Auditors certificate, NCLT / other court’s order, Credit Rating, etc.)
• Newspaper advertisement
• Any other disclosure as specified by Stock Exchanges from time to time.

The circular shall be effective w.e.f September 01, 2022.