Securities and Exchange Board of India (SEBI) vide notification / Circular No.SEBI/HO/OIAE/IGRD/CIR/P/2021/642issued and publishes dated 14thOctober, 2021, “Streamlining issuance of SCORES Authentication for companies intendingto list their securities on SEBI recognized stock exchanges”in exercise of powers conferred by Section 11(1) of the Securities and Exchange Board of India Act, 1992.
- The Circular was addressed to:
- All Companies who are intending to list their securities on SEBI recognized
- Stock Exchanges (through SEBI registered Merchant Bankers)
- All recognized Stock Exchanges
- All registered Merchant Bankers
- Need of the Circular:
- to protect the interests ofinvestors in securities and
- to promote the development of, and
- to regulate thesecurities market.
Crux of the Circular:
- SEBI decided to introduce an online mechanism for obtaining SCOREScredentials for all “companies intending to list their securities on SEBI recognizedstock exchanges”. The online form can be accessed on the SCORES websitewww.scores.gov.in.
- This has been done as part of SEBI’s green initiative and tostreamline the redressal of investor grievances against companies before listing.
- Companies shall attach a declaration, with the online form, on the letter head ofthe company signed by the Compliance Officer, as under
- Companies intending to list on Main Board: A Declaration that the DRHP hasbeen submitted with SEBI.
- Companies intending to list on SME/Debt Platform of stock exchange: ADeclaration that an application to list its securities has been submitted with thestock exchange/in-principal approval to list its securities has been obtainedfrom the stock exchange.
- The SCORES credentials shall be sent to the e-mail id of the ComplianceOfficer/Dealing Officer as provided in the online form.
- In view of the same, companies are no longer required to submit physical copy ofForm-A or e-mail the same to SEBI, as provided in Circular No. CIR/OIAE/1/2014dated December 18, 2014.
- An Instruction document has been provided with the Online Form.
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