SEBI relaxes compliance from certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

May 13, 2022 | by TeamLease RegTech Legal Research Team

Loading audio.....

Secretarial ComplianceThe Securities and Exchange Board of India (SEBI) on May 13, 2022 has issued a circular to provide relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

After receiving multiple representations from listed companies, seeking dispensation from requirements of sending hard copy of annual reports to shareholders, SEBI has decided to provide relaxation upto December 31, 2022, from Regulation 36 (1) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) which requires sending hard copy of annual report containing salient features of all the documents prescribed in Section 136 of the Companies Act, 2013 to the shareholders who have not registered their email addresses. Further, the notice of Annual General Meeting published by advertisement in terms of Regulation 47 of LODR Regulations, shall contain a link to the annual report, so as to enable shareholders to have access to the full annual report.

It is however emphasized that in terms of Regulation 36 (1) (c) of LODR Regulations, listed entities are required to send hard copy of full annual report to those shareholders who request for the same.

Further, the requirement of sending proxy forms under Regulation 44 (4) of the LODR Regulations is dispensed with up to December 31, 2022, in case of general meetings held through electronic mode only.

[Circular No. SEBI/HO/CFD/CMD2/CIR/P/2022/62]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.