SEBI Relaxation in Compliance Norms w.r.t. SEBI (LODR) Regulations, 2015
Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/48 issued and publish dated 26th March 2020, has published 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 relating to Standard Operating Procedure due to the CoVID -19 virus pandemic”.
SEBI, vide circular no SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020 had provided relaxation from compliance with certain provisions of the LODR. It has been decided to grant the following further relaxations from the LODR:
- SEBI Circular dated 19th March, 2020 and 23rd March, 2020 – Relaxation
They shall come into force on the date of their publication, i.e. 26th day of March, 2020.
Relaxation given under various Regulations:
|Sl No.||Compliance Particulars||Due Date||Extended Due Date|
|1||Half Yearly : Regulation 40 (9) relating to Certificate from Practicing Company Secretary on timely issue of share certificates||30.04.2020||31.05.2020|
|2||Annual: Regulation 44(5) relating to holding of AGM by top 100 listed entities by market capitalization for FY 19-20||31.08.2020||30.09.2020|
2. Conduct of Committee meetings
Nomination and Remuneration Committee, Stakeholders Relationship Committee and Risk Management Committee:
|Sl. No.||Compliance Particulars||Due Date||Extended Date|
The nomination and remuneration committee shall meet at least once in a year
The Stakeholders Relationship committee shall meet at least once in a year.
The Risk Management Committee shall meet at least once in a year.
3. Relaxation of the operation of the SEBI circular on Standard Operating Procedure dated January 22, 2020
SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/12 January 22, 2020 shall now come into force with effect from compliance periods ending on or after June 30, 2020. It may be noted that the SoP circular dated May 03, 2018 would be applicable till such date.
4. Regulation 47: Publication of advertisements in the newspapers:
It has been decided to exempt publication of advertisements in newspapers as required under regulation 47 for all events scheduled till May 15, 2020
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