Due to the Covid-19 pandemic, SEBI gives relaxation for non-submission of physical copies to the shareholders and exemption from sending proxy forms in case the meeting is held electronically by the listed entities till 31st December, 2021. Read the official circular below:
Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
18th January, 2021
ANNOUNCEMENT
Sub: Relaxation by SEBI for non-submission of hard copy of Annual Report to Shareholders and dispension from sending proxy forms in case meeting is held electronically by Listed Entities till 31.12.2021 due to the COVID-19 pandemic
This is to inform you that Securities and Exchange Board of India (SEBI) pursuant to the relaxations granted by MCA, has relaxed the requirements mentioned in Para 3 to 6 of the circular no SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020 in respect of sending physical copies of annual report to shareholders and requirement of proxy for general meetings held through electronic mode, till 31st December 2021.
Accordingly, the requirements of Regulations 36 (1)(b) and (c) and Regulation 58 (1)(b) &(c) of the LODR are dispensed with for listed entities who conduct their AGMs during the calendar year 2021 (i.e. till December 31, 2021)
Further, the requirement under regulation 44 (4) of the LODR for sending proxy forms to holders of securities, is dispensed with temporarily, in case of meetings held through electronic mode only.
This relaxation is available for listed entities who conduct their AGMs through electronic mode during the calendar year 2021 (i.e. till December 31, 2021)
Circular is available at the link-
https://www.sebi.gov.in/legal/circulars/jan-2021/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-pandemic_48790.html
Members may note the above.
Sincerely Yours,
Chairman and Vice Chairman
Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
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