1. On being shifted to the DB, companies that are filing their requisite returns with ROC for last 2 financial years would be deemed compliant companies and they shall not be needed to obtain any NOC from the RSE, for the listing purposes.
2. Further, for the listing purposes, the company shall obtain a compliance certification from any independent professionals and submit to the nationwide stock exchanges, which in turn, would be undertaking independent verification of the same.
3. For the Promoters who were of the view that by being shifted to DB, they will get an easy exit, SEBI has clarified that all the promoters and directors of such companies, who have failed to provide the trading platform or exit to its shareholders, even after the extended time of 18 months will have to undergo stricter scrutiny for their any future association with securities market.
4. SEBI has also clarified that the exclusively listed companies seeking listing on nationwide exchanges shall not undergo any material changes in their shareholding pattern which suggests change of control at the time of listing on nationwide stock exchanges.

To sum up, by issuing the said Circular, SEBI has, on one hand paved the way for Direct Listings of compliant companies and on the other has made it categorically clear that shifting to DB is not the best option for the Promoters/ Directors of the RSE listed companies.