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 entities by market capitalization, due to the COVID –19 pandemic
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Relaxation of AGM timeline allows top listed entities with affected year end to hold AGMs by extended deadline. SEBI relaxed the timing requirement under Regulation 44(5) of the LODR to allow top 100 listed entities by market capitalization with financial year ending December 31, 2019 to hold their AGM within an extended period consistent with MCA guidance; the circular is effective immediately, requires Stock Exchanges to disseminate the relief, is issued under SEBI's statutory powers, and is subject to the Companies Act and applicable rules.
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Provisions expressly mentioned in the judgment/order text.
Relaxation of AGM timeline allows top listed entities with affected year end to hold AGMs by extended deadline.
SEBI relaxed the timing requirement under Regulation 44(5) of the LODR to allow top 100 listed entities by market capitalization with financial year ending December 31, 2019 to hold their AGM within an extended period consistent with MCA guidance; the circular is effective immediately, requires Stock Exchanges to disseminate the relief, is issued under SEBI's statutory powers, and is subject to the Companies Act and applicable rules.
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