Non-applicability certificate for corporate governance provisions under Regulation 15(2)(b)
Shivchem Agro has shared a certificate to BSE stating that the corporate governance provisions under Regulations 17 to 21 of the SEBI (LODR) Regulations, 2015 do not apply to it.
By ScoutQuest · · 2 min read
What the company has shared
The company has submitted a Non-Applicability Certificate to BSE Limited under Regulation 15(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In simple terms, this is a certificate saying that a set of corporate governance rules does not apply to the company. The rules in question are the corporate governance provisions covered by Regulations 17 to 21 of the SEBI (LODR) Regulations, 2015.
- Regulations 17 to 21 deal with matters such as the composition of the board of directors, the audit committee, the nomination and remuneration committee, the stakeholders relationship committee and the risk management committee.
- Regulation 15(2)(b) sets out when these provisions do not apply to a listed entity.
What the update says about the exemption
The certificate sets out the conditions under which these provisions shall not apply
- A listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupees twenty-five crore, as on the last day of the previous financial year.
- A listed entity which has listed its specified securities on the SME Exchange — the provisions of Regulations 17 to 21 of the SEBI (LODR) Regulations, 2015 are not applicable to the Company.
The certificate states that it is issued for submission to BSE Limited and for the Company's records, and is signed by Rohit Agarwal, Chairman & Executive Director.
How a retail investor can read this
- This is a periodic-type compliance submission rather than a business or earnings event. It does not involve money being raised, spent, borrowed or repaid.
- The certificate is the company's confirmation, to the exchange and for its own records, that the corporate governance provisions of Regulations 17 to 21 do not apply to it.
- The document carries no information on the company's operations, orders, financial results or shareholding, so nothing here changes what an investor knows about the business itself.
What the update does not do
It does not set out the company's paid-up equity share capital figure or its net worth figure; it reproduces the threshold limits from the regulation. It also does not state any action the company intends to take.
Also from Shivchem Agro
Annual Secretarial Compliance Report declared not applicable to the company under SEBI LODR exemption
16 Oct 2026
Company says related party disclosure rules do not apply to it under SME listing exemption
16 Oct 2026
Board approves shifting of registered office within Delhi, effective October 08, 2026
8 Oct 2026
More numbers
- Paid-up equity share capital threshold in the exemption conditionrupees ten crore
- Net worth threshold in the exemption conditionrupees twenty-five crore
- Regulations covered by the corporate governance provisionsRegulations 17 to 21
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