SEBI vide its circular dated 08th February, 2019 issued mandate to all the Listed entities and their material unlisted subsidiaries incorporated in India to get following reports from Practicing Company Secretary on annual basis from the financial year ended March 31, 2019 onwards:-
- Annual Secretarial Audit report regarding the compliance of all applicable laws to the entity and
- Annual Secretarial Compliance report regarding the compliance of all applicable SEBI Regulations and circulars/ guidelines.
Highlights of Circular:-
Date of Circular | 08th February, 2019 |
Effective | Financial year ended March 31, 2019 onwards. |
Insertion of Regulation | 24A under the SEBI (LODR), Regulations, 2015 |
Compliances | Annual Secretarial Audit ReportAnnual Secretarial Compliance Report |
Applicability | Annual Secretarial Audit Report:- Listed entities and their material unlisted subsidiariesAnnual Secretarial Compliance Report: Listed entities. |
Scope of Check | Annual Secretarial Audit Report:- Broad check of All applicable laws to entity. Annual Secretarial Compliance Report: Check of SEBI Regulations and circulars/ guidelines |
Format of Report | Annual Secretarial Audit Report:- Use same Form No. MR-3 as required under Companies Act, 2013 Annual Secretarial Compliance Report:- Circular itself specified Format (enclosed herewith for reference) |
Submission to Stock Exchange | Annual Secretarial Audit Report:- Annex with Annual report and submit to stock exchange not later than the day of commencement of dispatch to its shareholders. Annual Secretarial Compliance Report:- Within 60 days from end of financial year |