TMI BlogFormat on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... zed Stock Exchanges Madam / Sir, Sub: Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc. 1. As per Regulations 32(1) , 32(2) and 32(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR Regulations ), a listed entity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... variation, there is no uniformity in the formats so submitted. Hence there is a need to introduce a common format for such reporting. 3. Further, such a common format will also aid monitoring by Stock Exchanges, of the end use of issue proceeds raised by listed entities through public issue, rights issue, preferential issue, QIP etc. Hence, for the purpose of compliance with 32(1), 32( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deviation report shall be placed before audit committee of the listed entity for review on quarterly basis and after such review, the comments of audit committee along with the report shall be disclosed/submitted to the stock exchange, as part of the format. In cases where the listed entity is not required to have an audit committee under the provisions of SEBI LODR Regulations or Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... category 'Legal Circulars'. Pradeep Ramakrishnan General Manager Compliance and Monitoring Division-1 Corporation Finance Department +91-22-26449246 pradeepr@sebi.gov.in - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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