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Even as certain sections of the market are calling for its closure under the current crisis that has resulted in country-wide lockdown, Sebi has written to chief secretaries across states and Union Territories that functioning of capital and debt markets are exempt from lockdown and that they should facilitate the functioning and movement of personnel of entities notified by it and officials of Sebi for smooth functioning of capital and debt markets.
While the Home Ministry had on March 24 issued an order containing guidelines on measures to be taken by ministries/departments of the central/state governments and authorities of states/ union territories for containment of the COVID–19 epidemic, the Securities and Exchange Board of India (Sebi) said that the Clause 4 of the guidelines refers to the working of the commercial and private establishments.
“Clause ‘h’ of the Exceptions to the Clause 4 empowers Securities and Exchange Board of India to notify Capital and debt market services from the applicability of the above order and guidelines w.r.t. the functioning of Commercial and Private Establishments,” the note said
In the note, the markets regulator added that it issued a notification dated March 24, 2020, where it has notified various entities providing Capital and Debt Market Services to be exempted from the closure. “It is requested that the State Governments/ State and Union Territories may facilitate the functioning and movement of the personnel of entities notified and Officials of SEBI for the smooth operation of the Capital and Debt Market.”
