Limited relaxation – dispatch of physical copies of financial statements etc. – Regulation 58 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Summary
SEBI grants a limited relaxation extending the exemption from dispatching physical copies of financial statements to non-convertible security holders until September 30, 2023. This extension aligns with similar relaxations previously granted by the Ministry of Corporate Affairs for the year 2023. The relaxation specifically applies to Regulation 58(1)(b) of the SEBI Listing Regulations regarding hard copies for holders without registered email addresses.
Text
SEBI had previously relaxed provisions related to dispatch of hard copy of Annual Report to debenture holders pursuant to MCA relaxations, which were extended till December 31, 2022.
MCA has extended the relaxations from dispatching of physical copies of financial statements due in the year 2023 (i.e. till September 30, 2023).
It has been decided to relax up to September 30, 2023, the requirements of Regulation 58 (1)(b) of the Listing Regulations which prescribes that an entity with listed non-convertible securities shall send a hard copy of statement containing the salient features... to those holders... who have not registered their email address(es).
This Circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all entities with listed non-convertible securities and disseminate on their websites.
The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the Listing Regulations.
Source: SecMarx — Limited relaxation – dispatch of physical copies of financial statements etc. – Regulation 58 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.