The Securities and Exchange Board of India has extended the timeline to hold the Annual General Meeting by Top 100 Listed Entities by Market Capitalisation. Accordingly, such entities shall hold their AGM within a period of six months from the date of closing of the financial year for 2020-21. Read the official announcement below:
SEBI/HO/CFD/CMD1/P/CIR/2021/602 July 23, 2021
All listed entities that have listed their specified securities
All Recognized Stock Exchanges
Madam / Sir,
Sub: Holding of Annual General Meeting (AGM) by top 100 listed entities by market capitalization - Reg.
1. Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (‘SEBI LODR’/ ‘LODR’) requires top 100 listed entities by market capitalization to hold their AGM within a period of five months from the date of closing of the financial year.
2. SEBI is in receipt of representations from listed entities and the Institute of Company Secretaries of India (ICSI) requesting extension of time to the top 100 listed entities for holding their AGM inter-alia due to the CoVID-19 pandemic.
3. After consideration, it has been decided to extend the timeline for conduct of AGM by top100 listed entities by market capitalization. Accordingly, such entities shall hold their AGM within a period of six months from the date of closing of the financial year for 2020-21.
4. This Circular shall come into force with immediate effect. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 101 and 102 of the LODR and the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
5. This Circular is available at www.sebi.gov.in under the link “LegalCirculars”.
Amy Durga Menon
Deputy General Manager
Corporation Finance Department
Compliance and Monitoring Division-1