The Securities and Exchange Board of India on 26th June 2020 has extended the relaxation given to the compliance requirement of maximum time gap between two board or audit committee meetings for listed companies till July 31, due to COVID-19 pandemic.
SEBI in its earlier circular dated 19th March, had relaxed the requirement of the maximum stipulated time gap of 120 days between two meetings of the board and audit committees of listed entities as required under LODR (Listing Obligations and Disclosure Requirements) Regulations, 2015. This relaxation was provided for the meetings held or proposed to be held between the period December 1, 2019 to June 30, 2020.
However, through this notification, SEBI has extended the relaxation till 31st July 2020. The board of directors and audit committees of listed entities shall, however, ensure that they meet at least four times a year, as stipulated under Regulations 17(2) and 18(2)(a) of the LODR Regulations.
Click here to read the notification.
