Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Summary
SEBI extends the relaxation from compliance with specific LODR Regulations regarding Annual General Meetings and general meetings until September 30, 2024. This extension aligns with a similar relaxation granted by the Ministry of Corporate Affairs for sending physical copies of financial statements to shareholders. Listed entities must continue to comply with the conditions stipulated in the SEBI Master Circular dated July 11, 2023, while availing these relaxations.
Text
SEBI Master Circular dated July 11, 2023 inter-alia relaxed the applicability of regulation 36(1)(b) of the LODR Regulations for Annual General Meetings (AGMs) and regulation 44(4) of the LODR Regulations for general meetings (in electronic mode) held till September 30, 2023.
MCA, vide General Circular No. 09/2023 dated September 25, 2023, has extended the relaxation from sending physical copies of financial statements... to the shareholders, for the AGMs conducted till September 30, 2024.
In view of the above, it has been decided to extend the relaxations mentioned at para 1 above till September 30, 2024.
It is reiterated that the listed entities shall ensure compliance with the conditions stipulated at para 5.1 and 5.2 of section VI-J of chapter VI of the Master Circular while availing the relaxations provided above.
This 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 LODR Regulations and the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
Source: SecMarx — Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.