Acceptance
of certifications by using DSC instead of physical sign: Circular by SEBI
1)
REFERENCES:
a) SEBI Circular No. SEBI/HO/CFD/CMD1/
CIR/P/2020/63 dated 17th April, 2020
b) SEBI Circular No. SEBI/HO/CFD/CMD1/
CIR/P/2020/145 dated 31st July, 2020
2)
BACKGROUND:
Situation of Covid 19 has shaken the
world and due to this, Company Secretaries on the one hand and companies and
its management personnel on the other hand, were continuously facing the
operational challenges in carrying out certification and authentication of
documents in physical form which are to be submitted to the govt authorities
including Stock exchanges.
3)
REPRESENTATIONS BY ICSI:
Keeping in view the above operational challenges
in terms of unworkable physical signing of documents, ICSI made number of
representations to SEBI, so that it would look into this matter and came up
with a feasible solution so as to file the certifications/authentications by
using digital signatures instead of signing it physically.
4)
OUTCOME:
SEBI after looking into the matter
thoroughly, accepted the representations of ICSI and thereafter releases the
following two circulars:
(i)
Circular
No. SEBI/HO/CFD/CMD1/ CIR/P/2020/63 dated 17th April, 2020,
permitted the use of digital signature certifications for
authentication/certification of filings/submissions made under the SEBI(Listing
Obligations and Disclosure Requirements) Regulations, 2015 to the Stock
Exchanges, till 30th June, 2020
(ii)
Circular
No. SEBI/HO/CFD/CMD1/ CIR/P/2020/145 dated 31st July, 2020,
permitted the use of digital signature certifications for
authentication/certification of filings/submissions made under the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 to the Stock
Exchanges, from “1st July, 2020 onwards till 31st December,
2020”.
