TMI BlogBSE SME LISTING ELIGIBILITY NORMS REVISED DUE TO COVID-19X X X X Extracts X X X X X X X X Extracts X X X X ..... BSE SME LISTING ELIGIBILITY NORMS REVISED DUE TO COVID-19 - By: - CSLalit Rajput - Corporate Laws / IBC / SEBI - Dated:- 26-5-2020 - - Overview Bombay Stock Exchange (BSE) vide notice no. 20200522-21 dated 22 nd May, 2020 has issued Notification related to Relaxation in Eligibility Criteria for SMEs in view of Covid-19 Pandemic Situation . This circular has been issued to amend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BSE circular dated 19th April 2012 related to eligibility criteria for companies seeking listing on BSE SME Platform as well as the guidelines for migration from SME Platform to main platform of BSE Ltd. MSMEs are facing challenging situations due to the pandemic caused by Covid-19, in view of the impact of the COVID-19 pandemic and the lockdown measures undertaken by Central and State Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ernments. Applicability : applicable with effect from June 1, 2020 . Key Highlight: The following eligibility criteria for listing on BSE SME platform are relaxed as mentioned below: Sr. Criteria Existing (present Provisions) Revised Norms (upcoming Provisions) 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Net Tangible Assets ₹ 3 crores ₹ 1.5 crores 2 Track Record The company or the partnership/proprietorship/LLP firm or the firm which have been converted into the company should have a combined track record of at least 3 years. Or In case it has not completed its operation for three years t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen the company/partnership/proprietorship/LLP should have been funded by Banks or financial institutions or Central or state government or the group company should be listed for at least two years either on the main board or SME board of the Exchange. The company or the firm or the firm which have been converted into the company should have combined positive cash accruals (earnings before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... depreciation and tax) from operation and its net worth should be positive The company or the partnership/proprietorship/LLP firm or the firm which have been converted into the company should have a combined track record of at least 3 years. Or In case it has not completed its operation for three years then the company/partnership/proprietorship/LLP should have been funde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Banks or financial institutions or Central or state government or the group company should be listed for at least two years either on the main board or SME board of the Exchange. The company or the firm or the firm which have been converted into the company should have combined positive cash accruals (earnings before depreciation and tax) in any of the year out of last three years and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its net worth should be positive Important Notes: there will be no change in the existing guidelines for NBFC and Broking companies. there is no change in the existing guidelines for listing on BSESME platform for NBFC and Broking companies. In case of any further clarification you may contact the following Officers: Name of the Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Email Id Anand chari Anand.Chari@bseindia.com Mukesh Shah mukesh.shah@bseindia.com Link: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200522-21 - - Scholarly articles for knowledge sharing authors experts professionals Tax Management I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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