Quick Summary
The Institute of Company Secretaries of India has requested the Securities and Exchange Board of Indiato relax the time gap between two meetings of the board and Audit Committees of listed entities, as is required under Regulation 17(2) and 18(2)(a) of SEBI LODR Regulations, 2015owing to the Second
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
ICSI is requesting SEBI to relax the maximum time gap of 120 days between two consecutive meetings of the board of directors and the audit committee for listed entities.
The request is due to the severity of the second wave of the COVID-19 pandemic, which is causing significant challenges for listed companies and affecting audit processes.
SEBI LODR Regulations, 2015, require the board of directors to meet at least four times a year with a maximum gap of 120 days between meetings (Regulation 17(2)), and the audit committee to meet at least four times a year with a maximum gap of 120 days (Regulation 18(2)(a)).
Yes, SEBI had previously relaxed the 120-day gap requirement for board and audit committee meetings in 2020 through specific circulars.
Yes, the Ministry of Corporate Affairs has extended the gap between two board meetings under section 173 of the Companies Act, 2013, to 180 days for specific quarters in 2021.
CAclubindia
