NSE clarifies that regulatory exemptions under Section 31 of the IBC do not apply to plans approved under Section 54L of the PPIRP framework. Compliance with SEBI norms remains mandatory.
NSE Clarifies SEBI Exemptions for PPIRP Resolution Plans
The National Stock Exchange (NSE) has issued a clarification stating that the regulatory exemptions available for Section 31 of the Insolvency and Bankruptcy Code (IBC) do not extend to resolution plans approved under Section 54L of the Pre-Packaged Insolvency Resolution Process (PPIRP). This assertion reinforces the necessity for listed entities to comply with all applicable SEBI guidelines.
This clarification is critical for market participants as it delineates the boundaries of regulatory leniency available during the resolution process, ensuring greater adherence to compliance measures. Listed entities engaged in PPIRP must be vigilant about their obligations, particularly in light of the recent clarifications.
For legal and compliance professionals, this ruling emphasizes the need for meticulous attention to SEBI norms when navigating the resolution landscape, especially in ensuring comprehensive compliance with the regulations applicable to specific circumstances.
Citations
- NSE Clarification (2026) NSE 1
