Securities Exchange Board of India vide circular dated 26th March, 2020 further relaxed timelines for compliances under SEBI (LODR) Regulations, 2015, due to the COVID 19 Pandemic. Following one time extensions are provided by the circular:
- Regulation 40(9): Certificate from Practicing Company Secretary on timely issue of share certificates- extended from April 30, 2020 to May 31, 2020 for 1 month.
- Regulation 44(5): holding of AGM by top 100 listed entities by market capitalization for FY 19-20- extended from August 31 to September 30, 2020 for 1 month.
- Regulation 19(3A): The nomination and remuneration committee meeting – Extended from March 31, 2020 to June 30, 2020 for 3 months.
- Regulation 20(3A)The Stakeholders Relationship committee meeting- Extended from March 31, 2020 to June 30, 2020 for 3 months
- Regulation 21(3A): The Risk Management Committee meeting – Extended from March 31, 2020 to June 30, 2020 for 3 months
Further the Circular states that publishing of information regarding board meetings and financial results etc. in news papers which is a part of compliance under Regulation 47 of the LODR has become complicated due to non acceptance of e-copy of information by newspapers hence such publications have been exempted for all events scheduled till 15th May 2020.
The circular came into force with immediate effect for ease in working with compliance during the current onset of COVID 19 virus.
Click here to read the Circular.
