On April 30, 2025, BLS Infotech Limited, based in Kolkata, issued an important disclosure to BSE Limited regarding the non-applicability of large corporate disclosure requirements as per SEBI's Chapter XII of its Operational Circular dated August 10, 2021.

Background on SEBI Circular

The SEBI Operational Circular issued in August 2021 pertains to fundraising by issuance of debt securities by large corporates. The circular sets guidelines for the issuance and listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities, and Commercial Paper. Under this circular, large corporates are mandated to comply with certain disclosure and borrowing requirements regarding their debt securities.

BLS Infotech's Confirmation

In its disclosure, BLS Infotech Limited confirmed that as of March 31, 2025, the company does not qualify as a large corporate under the definition specified in the aforementioned SEBI circular. This means that BLS Infotech is not subject to the disclosure and borrowing requirements typically applicable to large corporates under Chapter XII of the circular.

As per the Annexure XII-B2 attached to the SEBI circular, BLS Infotech provided detailed information regarding its borrowing status for the financial years FY 2022-23, FY 2023-24, and FY 2024-25. Key points from the disclosure include:

• No incremental borrowing was made by the company in the fiscal year FY 2024-25.

• The mandatory borrowing requirement for debt securities, as per the SEBI circular, is not applicable to the company.

• No actual borrowing was done by the company through debt securities during the year.

• No shortfall in borrowing or penalties were applicable for FY 2024-25.

Penalty and Fine Status

The company also confirmed that there is no penalty to be paid in relation to the previous block period (FY 2022-23 to FY 2024-25). According to the guidelines, if a shortfall in borrowing through debt securities had occurred, a fine would have been applicable. However, as there were no borrowings, the fine structure does not apply to the company.

Conclusion

BLS Infotech Ltd. has clarified that it is not a large corporate as per the criteria outlined in the SEBI operational circular dated August 10, 2021. Therefore, the company is exempt from the disclosure requirements for debt securities under Chapter XII of the circular. The company also confirmed that there are no penalties for the current block period.

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