Relaxation in relation to Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR')

Last updated: 24 April 2020

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The Securities and Exchange Board of India (SEBI) has issued a circular providing a relaxation for the top 100 listed entities by market capitalization regarding the holding of their Annual General Meeting (AGM). This relaxation is in relation to Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is due to the COVID-19 pandemic. Specifically, entities whose financial year ended on December 31, 2019, can now hold their AGM within nine months from the closure of the financial year, meaning by September 30, 2020.

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/CMD1/CIR/P/2020/71 April 23, 2020 To All listed entities that have listed their specified securities All Recognized Stock Exchanges All Depositories Madam / Sir, Subject: Relaxationinrelation toRegulation 44(5) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) on holding of Annual General Meeting (AGM) by top 100 listed entities by market capitalization, due to t

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FAQ :

The circular provides a relaxation on the deadline for holding Annual General Meetings (AGMs) for the top 100 listed entities by market capitalization, due to the COVID-19 pandemic.

Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR') is being relaxed.

The relaxation applies to the top 100 listed entities by market capitalization whose financial year ended on December 31, 2019.

Eligible entities can now hold their AGM within a period of nine months from the closure of their financial year, which means by September 30, 2020.

This circular comes into force with immediate effect.

Notification No : SEBI/HO/CFD/CMD1/CIR/P/2020/71
Source : https://www.sebi.gov.in/legal/circulars/apr-2020/relaxation-in-relation-to-regulation-44-5-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-lodr-on-holding-of-annual-general-meeting-agm-by-top-100-listed-entitie-_46552.html

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