SEBI relaxes compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the COVID-19 [Read Circular]

SEBI relaxes compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the COVID-19 [Read Circular]

SEBI - compliance - provisions of the SEBI - Obligations and Disclosure Requirements - Taxscan

In the wake of the COVID-19 pandemic, the Securities and Exchange Board of India (SEBI) relaxed the compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The SEBI had inter-alia relaxed certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 related to general meetings, pursuant to relaxations by the MCA.

“Subsequently, MCA vide Circular dated December 31, 2020, has further extended relaxations to companies to conduct their Extraordinary General Meeting (EGM) through Video Conferencing (VC) or through other audio-visual means (OAVM) (hereinafter referred to in this circular as ‘electronic mode’) up to June 30, 2021. Further, vide Circular dated January 13, 2021, MCA has also extended these relaxations to Annual General Meeting (AGMs) of companies due in the year 2021 (i.e. till December 31, 2021),” the circular said.

The Board in respect of sending physical copies of annual reports to shareholders and requirement of proxy for general meetings held through electronic mode, are extended for listed entities, till December 31, 2021.

This Circular shall come into force from January 15, 2021.

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