SEBI extends timeline for social enterprises to submit annual disclosures, impact report

Markets regulator Sebi connected Monday extended the timeline to January 2025 for societal enterprises, which person registered oregon mobilised funds done societal banal exchange, to taxable yearly disclosures and 'annual interaction report' for the fiscal twelvemonth 2023-24.

Social enterprises were required to marque yearly disclosures and taxable 'annual interaction report' to the Social Stock Exchange (SSE) by October 31, 2024.

"The outer timeline for yearly disclosures nether Regulation 91C(1) and yearly interaction study nether Regulation 91E(1) of LODR (Listing Obligations and Disclosure Requirements) Regulations by Social Enterprises connected Social Stock Exchange, for FY 2023-24 has been extended up to January 31, 2025," Sebi said successful a circular.

The yearly study involves details of general, governance and concern aspects and yearly interaction study to SSE captures the qualitative and quantitative aspects of the societal interaction generated by the societal enterprise.

In lawsuit a Not-for-Profit Organisation is lone registered without listing immoderate security, specified a study is required to screen the NPO's important activities, interventions, and programmes, among others.

In September 2023, Sebi asked societal enterprises raising funds utilizing SSE to disclose the yearly interaction study wrong 90 days from the extremity of the fiscal year.

SSE is simply a caller conception successful India and it is simply a abstracted conception of the existing banal exchange, which helps societal enterprises to garner funds from the nationalist done the banal speech mechanism.
Social enterprises eligible to enactment successful the SSE are entities -- NPOs and for-profit societal enterprises -- having societal intent and interaction arsenic their superior goal. Also, specified an intent should beryllium demonstrated done its absorption connected eligible societal objectives for the underserved oregon little privileged populations oregon regions.

The societal enterprises volition person to prosecute successful a societal enactment retired of 16 wide activities listed by the regulator. The eligible activities see eradicating hunger, poverty, malnutrition and inequality; promoting healthcare, supporting education, employability and livelihoods; sex equality empowerment of women and LGBTQIA+ communities; and supporting incubators of societal enterprise.