About Clasis Law

Clasis Law is one of the leading full-service Indian law firms which provide speedy services while upholding the law and following every regulation in the book. The firm is recognized as highly professional and process-driven, with the necessary systems and infrastructure to provide hassle-free services to clients. It has an established capability and operational ability to advise clients across borders through its vibrant network of international law firms located around the globe, including in some of the most difficult jurisdictions in the world. The firm's clients range from Fortune 500 companies to SMEs and small businesses. In addition, it provides specialized services to international SMEs that choose India as their preferred investment destination.

Framework on Social Stock Exchange(“SSE”)

A Circular on "Framework on Social Stock Exchange". SEBI vide notification dated July 25, 2022, amended the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018(“ICDR Regulations”), SEBI (Listing Obligations and Disclosure   Requirements) Regulations, 2015 (“LODR Regulations”) and SEBI (Alternative   Investment   Funds) Regulations, 2012 (“AIF Regulations”) in order to provide a broad framework for Social Stock Exchange. In terms of the said amendment, a detailed framework on SSE has been specified within this Circular. This Circular specifies the following:

i) Minimum requirements to be met by a Not for Profit Organization(NPO) for registration with SSE in terms of Regulation  292F  of  the  ICDR Regulations;

ii) Minimum Initial Disclosure Requirement for NPOs raising funds through the issuance of Zero Coupon Zero Principal Instruments in terms of Regulation 292K(1) of the ICDR Regulations;

iii) Annual disclosure by NPOs on SSE which have either raised funds through SSE or are registered with SSE in terms of Regulation 91C of the LODR Regulations;

iv) Disclosure of Annual Impact Report by all Social Enterprises which have registered  or  raised  funds  using  SSE in  terms  of  Regulation  91E  of  the LODR Regulations;

 v) Statement of utilisation of funds in terms of 91F of the LODR Regulations.

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