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ARTICLE · 24 APRIL 2026

Sagus Speaks - April 2026 | Part I

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The Securities and Exchange Board of India ("SEBI") vide its circular dated 07.04.2026 ("SEBI Observations Circular")1 has granted a one-time relaxation with respect to the validity of SEBI observation letters issued under the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 ("ICDR Regulations").

IndiaCorporate/Commercial Law
Sagus Legal LLP
Sagus Legal LLP

This Newsletter covers key Regulatory & Policy Updates, Government Notifications and Judicial Pronouncements.

REGULATORY AND POLICY UPDATES

SEBI grants one time relaxation for extension of validity of SEBI observations.

The Securities and Exchange Board of India ("SEBI") vide its circular dated 07.04.2026 ("SEBI Observations Circular")1 has granted a one-time relaxation with respect to the validity of SEBI observation letters issued under the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 ("ICDR Regulations").

In terms of Regulations 44(1) and 59C of the ICDR Regulations, a public issue is required to be opened within twelve (12) months and eighteen months (18) respectively from the date of issuance of observations by SEBI. SEBI noted that difficulties being faced by issuers in mobilising resources and accessing the capital markets due to the ongoing geopolitical tensions in the Middle East, leading to deferment, recalibration or withdrawal of issuance plans

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