The SEBI circular provides an update on relaxations granted for compliance with specific provisions under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations).
Extension of Relaxations by SEBI:
On October 7, 2023, SEBI relaxed compliance with Regulation 36(1)(b) and Regulation 44(4) of the LODR Regulations. These pertain to requirements for conducting Annual General Meetings (AGMs) and general meetings in electronic mode, allowing companies to forgo sending physical copies of certain financial documents for meetings held until September 30, 2024.
MCA Extension:
The Ministry of Corporate Affairs (MCA) issued General Circular No. 09/2024 on September 19, 2024, further extending the relaxation from sending physical copies of financial documents (such as the financial statement, Board’s report, and Auditor’s report) to shareholders for AGMs conducted until September 30, 2025.
SEBI’s Decision:
In light of the MCA’s extension and representations received by SEBI, the relaxation for Regulation 36(1)(b) and Regulation 44(4) has now been extended until September 30, 2025.
Conditions for Compliance:
Listed entities must ensure they comply with the conditions laid down in Section VI-J, Chapter VI of SEBI’s Master Circular dated July 11, 2023, while availing of these relaxations.
Link – https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=1&ssid=7&smid=0
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