Additional relaxation in relation to compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 – Covid-1 9 pandemic

Last updated: 15 May 2020

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The Securities and Exchange Board of India (SEBI) has issued further relaxations for listed entities concerning the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, due to the ongoing COVID-19 pandemic. These relaxations include dispensing with the requirement to send physical annual reports to shareholders and the need for proxy forms for meetings held electronically. Additionally, exemptions for publishing newspaper advertisements are extended, and certain banking and insurance companies or those with such subsidiaries have the option to voluntarily submit consolidated financial results for the quarter ending June 30, 2020.

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/CMD1/CIR/P/2020/79 May 12, 2020 To All listed entities All Recognized Stock Exchanges Madam / Sir, Subject: Additional relaxation in relation to compliance with certain provisions of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 Covid-1 9 pandemic 1. In view of the CoVID-1 9 pandemic, SEBI had provided relaxations to listed entities, from compliance with certain provisions of theSEB

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FAQ :

The circular provides additional relaxations and clarifications for listed entities regarding compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, in light of the challenges posed by the COVID-19 pandemic.

For listed entities conducting their Annual General Meetings (AGMs) during the calendar year 2020, the requirement to send physical copies of annual reports to shareholders who haven't registered email addresses is dispensed with.

The requirement to send proxy forms to security holders is temporarily dispensed with for meetings held solely through electronic mode during the calendar year 2020.

The exemptions from publishing advertisements in newspapers, as required under regulation 47 and regulation 52(8), are extended for all events scheduled until June 30, 2020.

Listed entities that are banking and/or insurance companies, or those having banking and/or insurance companies as subsidiaries, may voluntarily submit consolidated financial results for the quarter ending June 30, 2020.

If such listed entities choose to publish only standalone financial results and not consolidated financial results, they must provide reasons for this decision.

Notification No : SEBI/HO/CFD/CMD1/CIR/P/2020/79
Source : https://www.sebi.gov.in/legal/circulars/may-2020/additional-relaxation-in-relation-to-compliance-with-certain-provisions-of-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-covid-19-pandemic_46661.html

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