Description

SEBI issues a corrigendum correcting the wording in regulation XCIII of its March 3, 2025 notification on ICDR Amendment Regulations, clarifying that only the schedule heading and Parts A, B, and C of Schedule X are substituted, not the entire Schedule X.

Summary

SEBI has issued a corrigendum dated March 16, 2026 to its earlier notification F. No. SEBI/LAD-NRO/GN/2025/233 dated March 3, 2025, which was published in the Gazette of India, Extraordinary, Part III, Section 4. The corrigendum corrects a drafting error in regulation (XCIII) of the SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025.

Key Points

  • Corrigendum issued under F. No. SEBI/LAD-NRO/GN/2026/298 on March 16, 2026
  • Corrects regulation (XCIII) of the original March 3, 2025 ICDR Amendment notification
  • The phrase “Schedule X shall be substituted with the following schedule” is corrected to read “In Schedule X, the schedule heading and Part A, Part B and Part C thereof shall be substituted with the following”
  • Published in the Gazette of India, Extraordinary, Part III, Section 4, No. 183
  • Signed by Babitha Rayudu, Executive Director, SEBI

Regulatory Changes

The correction narrows the scope of substitution in Schedule X of the ICDR Regulations. The original wording implied the entire Schedule X would be replaced, whereas the corrected wording clarifies that only the schedule heading and its three parts (Part A, Part B, and Part C) are substituted. The substantive content of the amendment remains unchanged; only the drafting language is corrected.

Compliance Requirements

  • Entities and practitioners relying on the SEBI (ICDR) (Amendment) Regulations, 2025 (F. No. SEBI/LAD-NRO/GN/2025/233) must read regulation (XCIII) with the corrected language
  • No new compliance actions are required as a result of this corrigendum
  • Legal and compliance teams should update their reference copies of the ICDR Amendment Regulations to reflect this correction

Important Dates

  • March 3, 2025: Original SEBI ICDR Amendment Regulations notification (F. No. SEBI/LAD-NRO/GN/2025/233)
  • March 16, 2026: Corrigendum published in the Gazette of India (No. 183)

Impact Assessment

This corrigendum has minimal market or operational impact. It is a technical drafting correction that clarifies the scope of substitution within Schedule X of the ICDR Regulations. No new obligations are imposed on issuers, intermediaries, or investors. Entities that had already implemented compliance measures based on the original ICDR Amendment Regulations should verify that their interpretation aligns with the corrected language, particularly regarding the structure of Schedule X.

Impact Justification

This is a minor textual correction to an existing regulatory amendment. It clarifies the scope of substitution in Schedule X but does not introduce new obligations or change substantive regulatory requirements.