Silly Monks Entertainment Ltd., a prominent player in the entertainment sector, has adhered to the Regulation 74(5) of the Securities and Exchange Board of India (SEBI) (Depositories and Participants) Regulations, 2018. As per the compliance requirements outlined by SEBI, the company has submitted a Certificate confirming its adherence to the regulations for the quarter ended December 31, 2024. This certificate is an essential step to ensure the transparency and compliance of the company with the regulatory framework governing stock markets and share transfers.

Details of the Certificate Submission

On January 15, 2025, Silly Monks Entertainment Ltd. submitted a compliance certificate to the National Stock Exchange (NSE) confirming the status of its shareholding and adherence to SEBI's depository regulations. The certificate was issued by Bigshare Services Pvt. Ltd., the company’s Registrar and Share Transfer Agent (RTA). This certificate serves as proof of the company’s commitment to maintaining the dematerialized status of all its shares, which is a crucial requirement for seamless trading on stock exchanges.

Key Points in the Certificate

The certificate, issued on January 11, 2025, highlights that as of December 31, 2024, the company’s entire shareholding is held in dematerialized form. This indicates that the shares are held electronically, which is in line with SEBI’s push for digitization in the securities market. Furthermore, it is confirmed that no requests for rematerialization (converting dematerialized shares back into physical form) have been received during the quarter.

This compliance certification under Regulation 74(5) ensures that Silly Monks Entertainment Ltd. has met the SEBI regulations related to the share transfer process and the status of its dematerialized shares. Bigshare Services Pvt. Ltd., the company’s RTA, confirmed that the regulation does not apply in this case due to the full dematerialization of shares, aligning with the regulatory standards set by SEBI.

Significance of the Compliance

By submitting this compliance certificate, Silly Monks Entertainment Ltd. showcases its adherence to the highest standards of corporate governance and regulatory compliance. Dematerialization plays a pivotal role in ensuring the efficiency of share trading and prevents issues related to physical certificates, such as delays or losses. The company’s commitment to maintaining its shares in electronic form reflects its focus on streamlining its operations and facilitating easier trading on the stock exchanges.

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