Section 102 in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
102. Power to relax strict enforcement of the regulations.
- [(1)] [Renumbered by Notification No. SEBI/LAD-NRO/GN/2018/47, dated 16.11.2018 (w.e.f. 2.9.2015).] The Board may in the interest of investors and securities market and for the development of the securities market, relax the strict enforcement of any requirement of these regulations, if the Board is satisfied that:(a)any provision of Act(s), Rule(s), regulation(s) under which the listed entity is established or is governed by, is required to be given precedence to; or(b)the requirement may cause undue hardship to investors; or(c)the disclosure requirement is not relevant for a particular industry or class of listed entities; or(d)the requirement is technical in nature; or(e)then on-compliance is caused due to factors affecting a class of entities but being beyond the control of the entities.(2)[ For seeking relaxation under sub-regulation (1), an application, giving details and the grounds on which such relaxation has been sought, shall be filed with the Board.(3)The application referred to under sub-regulation (2) shall be accompanied by a non-refundable fee of rupees one lakh payable by way of direct credit in the bank account through NEFT/ RTGS/ IMPS or any other mode allowed by Reserve Bank of India or by way of a demand draft in favour of the Board payable in Mumbai.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/47, dated 16.11.2018 (w.e.f. 2.9.2015).]
