Regulation 32(1) of SEBI LODR Regulation 2015
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Market Creators Limited has submitted a disclosure to BSE stating that Regulation 32(1) of SEBI LODR 2015 is not applicable to the company. The regulation requires listed companies to submit statements on deviation or variation when proceeds are raised through public issues, rights issues, preferential issues, or Qualified Institutions Placement (QIP). The company clarified that it has not raised any funds, hence it is not required to submit the prescribed Annexure A as per the SEBI circular dated 24th December 2019. This is essentially a nil disclosure confirming no fund-raising activity has taken place requiring utilization reporting.
This filing has no direct impact on shareholders as it is a procedural nil disclosure confirming the absence of any fund-raising activity. It simply confirms that no deviation or variation reporting is required because no public/rights/preferential issue or QIP has been undertaken.