SEBI – relaxations

https://www.sebi.gov.in/legal/circulars/mar-2020/-further-relaxations-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-lodr-and-the-sebi-circular-dated-january-22-2020-relatin-_46436.html

Further relaxations made by SEBI in compliance matters because of the Covid crisis.

Reg 40(9) certification has been relaxed by one month.

reg 44(5) – holding of AGM by top 100 market listed entities – should have been done within 5 months from the closure – now one month extra has been given

conduct of various committee meetings in a financial year – nomination cum remuneration committee, stakeholders committee, risk management committee, – they are supposed to hold at least one meeting during the financial year. If they have not met, then they can meet upto june 2020.

Standard Operating Procedure i/r of fines and other enforcement actions for non compliances – action will be deferred and will be applicable only for compliances for the period ending 30th june, 2020.

reg 47 – publication of advertisement in newspapers in respect of board meetings and other matters is being exempted since many newspapers are not bringing out their print version of the newspapers.

Still the regulation 76 of the SEBI (Depositories) Act regarding reconcilation of share capital audit is not covered in these circulars.

 

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