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the “fair use” for the purpose such as criticism, comment news reporting,
teaching scholarship, research and development
What is a SSE?
3
KEY POINTS
An SSE is a platform
which allows investor
to buy shares in
social enterprises
vetted by an official
exchange .
The SSE will function
as a common platform
where social
enterprise can raise
fund from the public.
It will function on the
lines of major stock
exchange like BSE
AND NSE however ,
the purpose of the
social exchange will
be not profit but
social welfare
4
SOCIAL STOCK EXCHANGE IN INDIA
5
KEY POINTS
• The first modern stock
trading was created in
Amsterdam when the
Dutch East India Company
was the first publicly
traded company.
• To raise capital, the
company decided to sell
stock and pay dividends
of the shares to investors.
Then in 1611, the
Amsterdam stock
exchange was created.
GENISIS OF
SSE
6
KEY POINTS
SSE FIRST BASE IN INDIA
Finance Minister
Nirmala Sitharaman
proposed the creation
of SSE for listing social
enterprises and
voluntary
organizations, so they
can raise funds
The National
Stock Exchange
(NSE) received
approval from the
Securities and
Exchange Board
of India (SEBI) to
set up a Social
Stock Exchange
(SSE) as a
separate segment
on Thursday,
December 22
SEBI formed a working
group—comprising of
representatives from
the government,
philanthropic
(charitable acts or other
good works that help
others) foundations,
nonprofits, impact
investors, and the
private sector—to give
form and content to the
vision of an SSE.
7
WHAT IS THE ELIGIBILITY CRITERIA OF
SOCIAL ENTERPRISE
8
 As recommended by the expert groups, a SE on
the SSE, shall demonstrate that social intent and
impact are its primary goals and that such intent is
demonstrated through its focus on eligible social
objectives for the underserved or less privileged
populations or regions and thus primacy of its
objectives to serve social good.
9
(A)15 broad eligible activities based on Schedule VII of the Companies Act, 2013,
Sustainable Development Goals and priority areas identified by Niti Aayog. The list of
eligible activities is as follows:
 Eradicating hunger, poverty malnutrition and
inequality; promoting health care (including
mental health) and sanitation; and making
available safe drinking water
 Promoting education, employability and
livelihoods
 Promoting gender equality, empowerment of
women and LGBTQIA+ communities
 Ensuring environmental sustainability,
addressing climate change (mitigation and
adaptation), forest and wildlife conservation
 Protection of national heritage, art and culture
 Training to promote rural sports, nationally
recognised sports, Paralympic sports and
Olympic sports
 Supporting incubators of social enterprises
 Supporting other platforms that strengthen the
non-profit ecosystem in fundraising and
capacity building
10
15 broad eligible activities based on Schedule VII of the Companies Act, 2013,
Sustainable Development Goals and priority areas identified by Niti Aayog. The list of
eligible activities is as follows:
 Promoting livelihoods for rural and urban poor,
including enhancing income of small and
marginal farmers and workers in the non-farm
sector
 Slum area development, affordable housing,
and other interventions to build sustainable
and resilient cities
 Disaster management, including relief,
rehabilitation and reconstruction activities
 Promotion of financial inclusion
 Facilitating access to land and property assets
for disadvantaged communities
 Bridging the digital divide in internet and
mobile phone access, addressing issues of
misinformation and data protection
 Promoting welfare of migrants and displaced
persons
11
12
WHAT ARE THE FUNCTIONS AND OBJECTIVES OF
SOCIAL STOCK EXCHANGE
13
• Such platform will function in the same
manner as a normal stock exchange does
but such platform will be created to serve
the society generating source from the
society and giving back to society in form
of welfare upliftment through providing
great infrastructure like roads , schools,
hospitals etc in such a system we can buy
the share and sell the share but we don’t
need any dividend from the company or
organization which is listed in social
stock exchange
FUNCTIONS
• It helps social and voluntary organization
which work for social causes to raise
capital as equity or debt or a unit of
mutual fund
• It also allow firms operating in sectors
such as health, environment and
transportation to raise risk capital
OBJECTIVS
WHAT ARE BENEFITS OF SOCIAL
STOCK EXCHANGE
14
15
Greater visibility: Smaller
social enterprises will be
able raise funds through
SSE. This would not be
possible through
conventional way.
Better utilization of funds: Social
Stock Exchange helps in utilistion
of funds in an organized way.
There will be track of spending by
the entity.
Accessing funds: Social
enterprises can access
funds from donors,
philanthropic foundations
and corporate social
responsibility (CSR)
spenders using SSE
WHO CAN PARTICIPATE IN THE SSE?
16
.
ENTREPRISES
PROFIT
MAKING
ENTREPRISES
NON-PROFIT
MAKING
ENTREPRISES
17
18
NUT SHELL:
For Profit Enterprises(FPEs)
NPOs- TRUSTS, Societies, Sec 8
company
With 16 prescribed social objectives
as prescribed by the SEBI Circular
19
(A)NON-
PROFITORGANIZATIONS
TRUST SOCIETY SECTION -8 Co.
WHY SOCIAL STOCK EXCHANGE ?
20
21
India need massive
investment in the
coming year to be
able to meet the
human
development goals
identified by global
bodies like the UN
Currently ,social
enterprise are very
active in India
,however, they face
challenges in raising
funds
It helps in utilization
of funds in an
organized way
.there will bone
track of spending
by the entity
Smaller social
enterprise will be
able raise funds
through social stock
exchange
WHAT ARE THE POLICIES TO BE KEPT
IN MIND POLICY?
22
23
Fund raising through SSE ensures accountability, transparency and periodic reporting of
impact. In order to provide an impetus for such fund raising mechanisms and create a vibrant,
deep and liquid market for social investments, it will be necessary to provide certain tax
incentives, as mentioned below:
a. Allow philanthropic donors to claim
100% tax exemption for their
donations to all NPOs that benefit
from the SSE. In India, donations to
private NPOs with 80G certification
can get only 50% tax deduction,
whereas government entities get
100%. This creates an artificial
distinction between private and
government entities doing similar work.
b. Allow all investments made in
securities/ instruments of NPOs listed
on
SSE to be tax deductible.
c. Allow corporates to deduct CSR
expenditure that goes to the SSE from
their taxable income.
d. Exempt investors from paying
Securities Transaction Tax and Capital
Gains Tax on investments/ capital gains
on SSE.
e. Allow first time retail investors to avail a
100% tax exemption on their
investments in the SSE MF structure,
subject to an overall limit of Rs. 1
Lakh.
f. Remove the 10% cap on income
eligible for deduction under 80G.
g. Allow a tax holiday of 5 years to
FPEs listed on the SSE, from the time
of first listing
WHAT ARE SEBI
NOTIFICATIONS?
24
25
Securities and Exchange
Board of India (SEBI), in
July 2022, notified rules for
Social Stock Exchange
(SSE) to provide social
enterprises
SEBI NOTIFICATIONS:
 In its circular SEBI/HO/CFD/PoD-1/P/CIR/2022/120
issued on dated 19th September 2022 the regulator
specified minimum requirements to be met by an NPO
for registration with SSE
 Disclosure requirements for NPOs raising funds
through the issuance of zero-coupon zero principal
instruments (ZCZP)
 Listed NPO will have to submit a statement of
utilization of funds to SSE, as mandated under
SEBI's rules within 45 days from the end of
quarter.
 To disclose Annual Impact Report (AIR) within 90
days from the end of financial year, capturing the
qualitative and quantitative aspects of the social
impact generated by the entity and where applicable,
the impact that is generated by the project or solution
for which funds have been raised on SSE.
26
 Social enterprises eligible to participate in the SSE will be
entities - NPOs and for-profit social enterprises - having
social intent and impact as their primary goal.
 SEBI said the entities need to make disclosure about its
vision, disclose target segment (those affected by the
problem and how are they affected) and approach to
accomplish its planned activities; details of its
governing body, composition, dates of board meetings
held; and details of key managerial staff.
 In addition, NPOs need to make disclosure of financial
statements for last three financial years, details of past
social impact and risks that they see to its work and how it
proposes to mitigate these.
 NPOs will have to disclose about details of top five donors
or investors in terms of budget, scale of operations,
including employee and volunteer strength, governance
structure, financial statement, programme-wise fund
utilisation for the year and auditors report and auditor
details.
SEBI NOTIFICATIONS:
27
 such an intent should be demonstrated through its focus on
eligible social objectives for the underserved or less
privileged populations or regions
 The social enterprises will have to engage in a social
activity out of 16 broad activities listed by the regulator.
The eligible activities include eradicating hunger, poverty,
malnutrition and inequality; promoting healthcare and
supporting education etc.,
 Corporate foundations, political or religious
organisations or activities, professional or trade
associations, infrastructure and housing companies,
except affordable housing, will not be eligible to be
identified as a social enterprise.
 Put in place annual disclosure requirements that need to be
made by NPOs on such exchanges
SEBI NOTIFICATIONS:
28
WHAT ARE THE LEGAL REQUIREMENTS FOR NPOs
29
NON – PROFIT ENTERPRISES
LEGAL
REQUIRMENTS
PARAMETERS
Entity is registered as an NPO
(a) a charitable trust registered under the public trust statue of the relevant state
(b) a charitable trust registered under the Societies Registration Act, 1860
(c) a charitable trust registered under the Indian Trusts Act, 1882
(d) a company incorporated under section 8 of the Companies Act, 2013
Ownership and control-
Governing document (MoA & AoA/ Trust Deed/ Bye-laws/ Constitution)
(a) Disclose if NPO is owned and/or controlled by government or private
Exemption under Income Tax Act-
Registration Certificate under section 12A/12AA/12AB under Income Tax Act,
1961 to be valid for at least the next 12 months. Does not have a notice or
ongoing scrutiny by Income Tax.
Registration with Income Tax as an NPO-
(a) Valid IT PAN
30
NON – PROFIT ENTREPEISES
LEGAL
REQUIRMENTS
PARAMETERS
Age of NPO-
Registration certificate
(a)Minimum 3 years
Deduction under Income Tax Act, 1960-
Valid 80G registration under Income Tax Act, 1961
(a)Entity to ensure whether tax deduction is available or not to investors.
Eligible to be Social Enterprise-
Requirements with Regulation 292E of ICDR Regulations
(a)As may be specified by SSE
MINIMUM FUND
FLOWS
Annual Spending in the past financial year
Receipts or Payments from Audited accounts/ Fund Flow Statement - Must be
at least Rs. 50 lakhs
Funding in the past financial year
Receipts from Audited accounts/ Fund Flow Statement - Must be at least Rs.
10 lakhs
WHAT ARE THE DOCUMENTS REQUIRED FOR
LISTING?
31
32
• Trust deed/ Society Bye-laws/ Memorandum of
association(MOA) /Articles of association(AOA)
• Certificate of Incorporation.
• Copy of 80G Certificate
• Copy of 12A (one-time registration) Registration
Certificate under income Tax
• Copy of Income tax returns for last 5 years
• Copy of Goods and Service tax returns for last 5 years
• Documents /Returns/Information filed by the society to
registrar of societies Including balance sheet and other
financial statements
• In case of Section 8 company financial statements (MGT-
7) and other forms filed with MCA portal
• FCRA approval if any,
• Funds contributed to CSR if any in the last 5 years
• Funds received as CSR if any in last 5 years
• Projects which are under taken as CSR currently if any
KEY REGISTRATION DOCUMENTS REQUIRED FOR THE REGITRATION OF NOPs
33
PROCESS FLOW CHARTS AT A GLANCE
 NPOs may be required to be
registered prior to raising
funds through SSE and has put
forth a set qualifying criteria for
registration.
 A for-profit social enterprise
shall comply with all
provisions of the ICDR
Regulations and the AIF
Regulations [as applicable for
its fund-raising modes] before
it can raise funds through
SSE.
 Under Regulation 292F of the
ICDR Regulations, not-for-
profit organizations that are
registered with a social stock
exchange are not required to
seek listing; however, they
must seek registration with a
social stock exchange before
raising funds through one.
 Tirumala Tirupati Devasthanams is registered
as the constitutional Religious institution
administrated and governed by the A p
Endowment Act 1987, the State Government
(TTD is a conglomeration of temples, brought
under the First Schedule 2 of Act 30 of 1987.
 TTD (Tirumala Tirupati Devasthanams) is a Non-
profit organization that manages the Sri
Venkateswara Temple at Tirumala, Andhra
Pradesh, India. The organization's aim is to serve
the devotees and provide them with all the
necessary facilities and services during their visit
to the temple. The TTD also runs several
charitable and educational institutions, including
schools and hospitals, and engages in various
social welfare activities.
34
 Activities & Services of Tirumala Tirupati
Devasthanams in relation with Social Stock
Exchange?
 TTD provides various services for pilgrims to Tirumala and
Tirupati, including bus services, food and accommodation.
It maintains the queue management system, facilitates
head tonsure and distribution of laddu. It runs information
and ticketing centers in the major towns and cities across
the country.
 Some of the Activities Includes:
 Annaprasadam
 Education
 Hospitals
 Sri Venkateswara Gosamrakshana Shala
 Free bus services
 Other charitable Activities
35
 Whether TTD can List in Social Stock Exchange?
 TTD cannot directly go for social stock exchange as per
section 292E (3) of SEBI (ICDR) regulations, a religious
organizations or activities involved shall not be eligible to
be identified as social enterprise.
 However, it’s affiliate organizations supported by TTD
like educational Institutions, Vedic Colleges, Medical
and Health Societies, which are involved in social,
charitable and other organizations can list at a social
stock exchange.
36
37

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TTD - PPT on social stock exchange.pptx Presentation

  • 1.
  • 2. 2 DISCLAIMER • This Presentation is purely for the propose of our clients and other privileged persons • This is not for the public circulation • The content is subject to copyrights • No body reproduce either full or any part of the presentation with out the permission of the author • if the content of or any part of the presentation with out the permission of the author attracts various actions under civil and criminal prosecutions • Under section 107 of the copyrights Act of 1976 Allowance is made for the “fair use” for the purpose such as criticism, comment news reporting, teaching scholarship, research and development
  • 3. What is a SSE? 3
  • 4. KEY POINTS An SSE is a platform which allows investor to buy shares in social enterprises vetted by an official exchange . The SSE will function as a common platform where social enterprise can raise fund from the public. It will function on the lines of major stock exchange like BSE AND NSE however , the purpose of the social exchange will be not profit but social welfare 4
  • 6. KEY POINTS • The first modern stock trading was created in Amsterdam when the Dutch East India Company was the first publicly traded company. • To raise capital, the company decided to sell stock and pay dividends of the shares to investors. Then in 1611, the Amsterdam stock exchange was created. GENISIS OF SSE 6
  • 7. KEY POINTS SSE FIRST BASE IN INDIA Finance Minister Nirmala Sitharaman proposed the creation of SSE for listing social enterprises and voluntary organizations, so they can raise funds The National Stock Exchange (NSE) received approval from the Securities and Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE) as a separate segment on Thursday, December 22 SEBI formed a working group—comprising of representatives from the government, philanthropic (charitable acts or other good works that help others) foundations, nonprofits, impact investors, and the private sector—to give form and content to the vision of an SSE. 7
  • 8. WHAT IS THE ELIGIBILITY CRITERIA OF SOCIAL ENTERPRISE 8
  • 9.  As recommended by the expert groups, a SE on the SSE, shall demonstrate that social intent and impact are its primary goals and that such intent is demonstrated through its focus on eligible social objectives for the underserved or less privileged populations or regions and thus primacy of its objectives to serve social good. 9
  • 10. (A)15 broad eligible activities based on Schedule VII of the Companies Act, 2013, Sustainable Development Goals and priority areas identified by Niti Aayog. The list of eligible activities is as follows:  Eradicating hunger, poverty malnutrition and inequality; promoting health care (including mental health) and sanitation; and making available safe drinking water  Promoting education, employability and livelihoods  Promoting gender equality, empowerment of women and LGBTQIA+ communities  Ensuring environmental sustainability, addressing climate change (mitigation and adaptation), forest and wildlife conservation  Protection of national heritage, art and culture  Training to promote rural sports, nationally recognised sports, Paralympic sports and Olympic sports  Supporting incubators of social enterprises  Supporting other platforms that strengthen the non-profit ecosystem in fundraising and capacity building 10
  • 11. 15 broad eligible activities based on Schedule VII of the Companies Act, 2013, Sustainable Development Goals and priority areas identified by Niti Aayog. The list of eligible activities is as follows:  Promoting livelihoods for rural and urban poor, including enhancing income of small and marginal farmers and workers in the non-farm sector  Slum area development, affordable housing, and other interventions to build sustainable and resilient cities  Disaster management, including relief, rehabilitation and reconstruction activities  Promotion of financial inclusion  Facilitating access to land and property assets for disadvantaged communities  Bridging the digital divide in internet and mobile phone access, addressing issues of misinformation and data protection  Promoting welfare of migrants and displaced persons 11
  • 12. 12 WHAT ARE THE FUNCTIONS AND OBJECTIVES OF SOCIAL STOCK EXCHANGE
  • 13. 13 • Such platform will function in the same manner as a normal stock exchange does but such platform will be created to serve the society generating source from the society and giving back to society in form of welfare upliftment through providing great infrastructure like roads , schools, hospitals etc in such a system we can buy the share and sell the share but we don’t need any dividend from the company or organization which is listed in social stock exchange FUNCTIONS • It helps social and voluntary organization which work for social causes to raise capital as equity or debt or a unit of mutual fund • It also allow firms operating in sectors such as health, environment and transportation to raise risk capital OBJECTIVS
  • 14. WHAT ARE BENEFITS OF SOCIAL STOCK EXCHANGE 14
  • 15. 15 Greater visibility: Smaller social enterprises will be able raise funds through SSE. This would not be possible through conventional way. Better utilization of funds: Social Stock Exchange helps in utilistion of funds in an organized way. There will be track of spending by the entity. Accessing funds: Social enterprises can access funds from donors, philanthropic foundations and corporate social responsibility (CSR) spenders using SSE
  • 16. WHO CAN PARTICIPATE IN THE SSE? 16
  • 18. 18 NUT SHELL: For Profit Enterprises(FPEs) NPOs- TRUSTS, Societies, Sec 8 company With 16 prescribed social objectives as prescribed by the SEBI Circular
  • 20. WHY SOCIAL STOCK EXCHANGE ? 20
  • 21. 21 India need massive investment in the coming year to be able to meet the human development goals identified by global bodies like the UN Currently ,social enterprise are very active in India ,however, they face challenges in raising funds It helps in utilization of funds in an organized way .there will bone track of spending by the entity Smaller social enterprise will be able raise funds through social stock exchange
  • 22. WHAT ARE THE POLICIES TO BE KEPT IN MIND POLICY? 22
  • 23. 23 Fund raising through SSE ensures accountability, transparency and periodic reporting of impact. In order to provide an impetus for such fund raising mechanisms and create a vibrant, deep and liquid market for social investments, it will be necessary to provide certain tax incentives, as mentioned below: a. Allow philanthropic donors to claim 100% tax exemption for their donations to all NPOs that benefit from the SSE. In India, donations to private NPOs with 80G certification can get only 50% tax deduction, whereas government entities get 100%. This creates an artificial distinction between private and government entities doing similar work. b. Allow all investments made in securities/ instruments of NPOs listed on SSE to be tax deductible. c. Allow corporates to deduct CSR expenditure that goes to the SSE from their taxable income. d. Exempt investors from paying Securities Transaction Tax and Capital Gains Tax on investments/ capital gains on SSE. e. Allow first time retail investors to avail a 100% tax exemption on their investments in the SSE MF structure, subject to an overall limit of Rs. 1 Lakh. f. Remove the 10% cap on income eligible for deduction under 80G. g. Allow a tax holiday of 5 years to FPEs listed on the SSE, from the time of first listing
  • 25. 25 Securities and Exchange Board of India (SEBI), in July 2022, notified rules for Social Stock Exchange (SSE) to provide social enterprises SEBI NOTIFICATIONS:  In its circular SEBI/HO/CFD/PoD-1/P/CIR/2022/120 issued on dated 19th September 2022 the regulator specified minimum requirements to be met by an NPO for registration with SSE  Disclosure requirements for NPOs raising funds through the issuance of zero-coupon zero principal instruments (ZCZP)  Listed NPO will have to submit a statement of utilization of funds to SSE, as mandated under SEBI's rules within 45 days from the end of quarter.  To disclose Annual Impact Report (AIR) within 90 days from the end of financial year, capturing the qualitative and quantitative aspects of the social impact generated by the entity and where applicable, the impact that is generated by the project or solution for which funds have been raised on SSE.
  • 26. 26  Social enterprises eligible to participate in the SSE will be entities - NPOs and for-profit social enterprises - having social intent and impact as their primary goal.  SEBI said the entities need to make disclosure about its vision, disclose target segment (those affected by the problem and how are they affected) and approach to accomplish its planned activities; details of its governing body, composition, dates of board meetings held; and details of key managerial staff.  In addition, NPOs need to make disclosure of financial statements for last three financial years, details of past social impact and risks that they see to its work and how it proposes to mitigate these.  NPOs will have to disclose about details of top five donors or investors in terms of budget, scale of operations, including employee and volunteer strength, governance structure, financial statement, programme-wise fund utilisation for the year and auditors report and auditor details. SEBI NOTIFICATIONS:
  • 27. 27  such an intent should be demonstrated through its focus on eligible social objectives for the underserved or less privileged populations or regions  The social enterprises will have to engage in a social activity out of 16 broad activities listed by the regulator. The eligible activities include eradicating hunger, poverty, malnutrition and inequality; promoting healthcare and supporting education etc.,  Corporate foundations, political or religious organisations or activities, professional or trade associations, infrastructure and housing companies, except affordable housing, will not be eligible to be identified as a social enterprise.  Put in place annual disclosure requirements that need to be made by NPOs on such exchanges SEBI NOTIFICATIONS:
  • 28. 28 WHAT ARE THE LEGAL REQUIREMENTS FOR NPOs
  • 29. 29 NON – PROFIT ENTERPRISES LEGAL REQUIRMENTS PARAMETERS Entity is registered as an NPO (a) a charitable trust registered under the public trust statue of the relevant state (b) a charitable trust registered under the Societies Registration Act, 1860 (c) a charitable trust registered under the Indian Trusts Act, 1882 (d) a company incorporated under section 8 of the Companies Act, 2013 Ownership and control- Governing document (MoA & AoA/ Trust Deed/ Bye-laws/ Constitution) (a) Disclose if NPO is owned and/or controlled by government or private Exemption under Income Tax Act- Registration Certificate under section 12A/12AA/12AB under Income Tax Act, 1961 to be valid for at least the next 12 months. Does not have a notice or ongoing scrutiny by Income Tax. Registration with Income Tax as an NPO- (a) Valid IT PAN
  • 30. 30 NON – PROFIT ENTREPEISES LEGAL REQUIRMENTS PARAMETERS Age of NPO- Registration certificate (a)Minimum 3 years Deduction under Income Tax Act, 1960- Valid 80G registration under Income Tax Act, 1961 (a)Entity to ensure whether tax deduction is available or not to investors. Eligible to be Social Enterprise- Requirements with Regulation 292E of ICDR Regulations (a)As may be specified by SSE MINIMUM FUND FLOWS Annual Spending in the past financial year Receipts or Payments from Audited accounts/ Fund Flow Statement - Must be at least Rs. 50 lakhs Funding in the past financial year Receipts from Audited accounts/ Fund Flow Statement - Must be at least Rs. 10 lakhs
  • 31. WHAT ARE THE DOCUMENTS REQUIRED FOR LISTING? 31
  • 32. 32 • Trust deed/ Society Bye-laws/ Memorandum of association(MOA) /Articles of association(AOA) • Certificate of Incorporation. • Copy of 80G Certificate • Copy of 12A (one-time registration) Registration Certificate under income Tax • Copy of Income tax returns for last 5 years • Copy of Goods and Service tax returns for last 5 years • Documents /Returns/Information filed by the society to registrar of societies Including balance sheet and other financial statements • In case of Section 8 company financial statements (MGT- 7) and other forms filed with MCA portal • FCRA approval if any, • Funds contributed to CSR if any in the last 5 years • Funds received as CSR if any in last 5 years • Projects which are under taken as CSR currently if any KEY REGISTRATION DOCUMENTS REQUIRED FOR THE REGITRATION OF NOPs
  • 33. 33 PROCESS FLOW CHARTS AT A GLANCE  NPOs may be required to be registered prior to raising funds through SSE and has put forth a set qualifying criteria for registration.  A for-profit social enterprise shall comply with all provisions of the ICDR Regulations and the AIF Regulations [as applicable for its fund-raising modes] before it can raise funds through SSE.  Under Regulation 292F of the ICDR Regulations, not-for- profit organizations that are registered with a social stock exchange are not required to seek listing; however, they must seek registration with a social stock exchange before raising funds through one.
  • 34.  Tirumala Tirupati Devasthanams is registered as the constitutional Religious institution administrated and governed by the A p Endowment Act 1987, the State Government (TTD is a conglomeration of temples, brought under the First Schedule 2 of Act 30 of 1987.  TTD (Tirumala Tirupati Devasthanams) is a Non- profit organization that manages the Sri Venkateswara Temple at Tirumala, Andhra Pradesh, India. The organization's aim is to serve the devotees and provide them with all the necessary facilities and services during their visit to the temple. The TTD also runs several charitable and educational institutions, including schools and hospitals, and engages in various social welfare activities. 34
  • 35.  Activities & Services of Tirumala Tirupati Devasthanams in relation with Social Stock Exchange?  TTD provides various services for pilgrims to Tirumala and Tirupati, including bus services, food and accommodation. It maintains the queue management system, facilitates head tonsure and distribution of laddu. It runs information and ticketing centers in the major towns and cities across the country.  Some of the Activities Includes:  Annaprasadam  Education  Hospitals  Sri Venkateswara Gosamrakshana Shala  Free bus services  Other charitable Activities 35
  • 36.  Whether TTD can List in Social Stock Exchange?  TTD cannot directly go for social stock exchange as per section 292E (3) of SEBI (ICDR) regulations, a religious organizations or activities involved shall not be eligible to be identified as social enterprise.  However, it’s affiliate organizations supported by TTD like educational Institutions, Vedic Colleges, Medical and Health Societies, which are involved in social, charitable and other organizations can list at a social stock exchange. 36
  • 37. 37