The Institute of Company Secretaries of India has written a representation letter to SEBI, requesting an extension in the due dates of certain compliances amid rising cases of COVID-19 and restrictions imposed thereon in all major cities and states. Read the official representation letter below:
ICSI:PFP:2021 April 22, 2021
Shri Amarjeet Singh
Executive Director
Securities and Exchange Board of India
SEBI Bhavan, Plot No.C4-A, 'G' Block Bandra
Kurla Complex, Bandra (East) Mumbai - 400051
Subject : Request for extension of timelines due to COVID-19-reg.
Respected Sir,
As your goodself is aware that the second wave of COVID-19 pandemic is spreading fast and economy is again gripping in the crisis. The situation in the major cities is again worsening and Government has imposed various restrictions to curb the impact. In these challenging times, stakeholders are finding it difficult to meet the ends and function smoothly. Considering the current crisis, we request your esteemed office to consider relaxations in due dates of the following compliances:
| S.No. | Particulars | Timeline | Suggestion |
| SEBI (LODR) Regulations, 2015 | |||
| 1 | Regulation 44 (4) - Requirement of proxy forms | The listed entity shall send proxy forms to holders of securities in all cases mentioning that a holder may vote either for or against a resolution | The requirement may be dispensed with upto December 31, 2021, in case of listed entities holding general meetings through electronic mode only |
| 2 | Regulation 44(5)- Holding of Annual General Meetings for top 100 listed entities | The top 100 listed entities by market capitalization, determined as on March 31st of every financial year, shall hold their AGM within a period of five months from the date of closing of the financial year i.e by 31st August, 2021 | The extension in holding the AGM may be granted upto 30th September, 2021. |
To read more in details, find the enclosed attachment
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