SEBI, vide its circular dated January 5, 2023 provided relaxation with compliance requirements under Regulation 36 (1)(b) of the LODR Regulations relating to dispatching hard copy of the statement containing salient features of all the documents as prescribed in section 136 of the Companies Act, 2013(financial statements, Board’s report, Auditor’s report etc.), to those shareholders who have not registered their email addresses till September 30, 2023.
SEBI in the circular added that the relaxation has been provided after considering MCA Circular dated December 28, 2022 where MCA provided relaxation to companies from dispatching physical copies of the financial statements (including Board’s report, Auditor’s report or other documents required to be attached therewith) to the shareholders, for the Annual General Meetings (AGMs) conducted till September 30, 2023 and after receiving representations from listed entities seeking extension for the same.
SEBI further added that, the listed entities shall ensure compliance with the conditions specified in para 2 and 3 of the said circular which is reproduced below:
- In terms of regulation 36(1)(c) of the LODR Regulations, listed entities are required to send hard copy of full annual reports to those shareholders who request for the same.
- The notice of AGM published by advertisement in terms of regulation 47 of the LODR Regulations shall disclose the web-link to the annual report so as to enable shareholders to have access to the full annual report.
This Circular shall come into force with immediate effect and is applicable to all listed entities who have listed their specified securities and Recognised Stock Exchanges.
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