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 17^th April, 2020

b)    SEBI Circular No. SEBI/HO/CFD/CMD1/ CIR/P/2020/145 dated 31^st 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 17^th 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 30^th June, 2020

(ii)          Circular No. SEBI/HO/CFD/CMD1/ CIR/P/2020/145 dated 31^st 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 “1^st July, 2020 onwards till 31^st December, 2020”.