Amendment To The SEBI LODR Regulations

The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations") have been amended (available here) and shall come into force on the 30th day from June 15, 2023 ("Effective Date"), unless specified otherwise. An overview of the key changes are set out hereunder:

Vacancy in the Office of Listed Entity

• Vacancies in the office of a listed entity is now required to be filled at the earliest and maximum within 3 months from the date of vacancy, for the following: (i) Compliance Officer; (ii) Chief Executive Officer ("CEO"); (iii) Managing Director ("MD"); (iv) Whole Time Director; (v) Manager; (vi) Chief Financial Officer; and (vii) Director.

Sale, Lease or Disposal of Undertaking outside Scheme of Arrangement (effective from June 15, 2023 for transactions where notice has not been dispatched to the shareholders)