SEBI notifies Relaxations from Compliance with certain provisions of the SEBI (LODR) Regulations, 2015

The Securities and Exchange Board of India (SEBI) has issued a notification regarding Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was issued on 5th January, 2023 and has come into immediate effect.

The following relaxations have been extended to 30th September, 2023:

1. Relaxation for companies for conducting Extraordinary General Meetings (EGM) through Video Conferencing (VC) or through other audio-visual means (OAVM)

2. The following requirements are dispensed with for listed entities who conduct their AGMs:

a. The requirements of the listed entity to send hard copy of statement containing salient features of prescribed documents to those shareholder(s) who have not registered their email addresses and

b. to send hard copies of financial statements to shareholders who have requested for the same.

These requirements in respect of the benefit of holders of non-convertible debt securities and non-convertible preference shares will also be dispensed with.

The listed entities shall ensure compliance with the following conditions:

1. listed entities are required to send hard copies of full annual reports to those shareholders who request the same.

2. The notice of AGM published by advertisement shall disclose the web-link to the annual report so as to enable shareholders to have access to the full annual report.