Relaxation from compliance with certain provisions of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
due to the CoVID -19 virus pandemic
The CoVID-19 Virus has hit the populations
around the world and has resulted in many restrictions across the globe
including free movement of people which in fact hampering the businesses and
day to day functioning of companies. It has been declared ‘Pandemic’ by World
Health Organisation (WHO).
The Security and Exchange Board
of India, keeping in the view of the situation arise due to CoVID-19 Virus has
decided to grant the following relaxations from compliance stipulations
specified under the SEBI (Listing Obligations and Disclosures Requirements),
2015 (‘LODR’) to listed entities vide SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated
19/03/2020.
A) Extension of timeline for filing:
|
S. No.
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Regulation
and associated filing
|
Filing
|
Relaxation w.r.t. the quarter / financial year ending March
31, 2020
|
|||||
|
Frequency
|
Due within
|
Due Date
|
Extended date
|
Period of
relaxation
|
||||
|
1.
|
Regulation
7(3) relating to compliance certificate
on share transfer facility
|
Half yearly
|
One
month of the end of each half of the financial year
|
April 30,
2020
|
May 31,
2020
|
1
month
|
||
|
2.
|
Regulation
13(3) relating to Statement of
Investor complaints
|
Quarterly
|
21 days
from the
end of each
quarter
|
April 21,
2020
|
May 15,
2020
|
3
weeks
(appx.)
|
||
|
3.
|
Regulation 24A read with circular No CIR/CFD/CMD1/27/2019 dated February 8, 2019 relating to Secretarial
Compliance report
|
Yearly
|
60 days
from the end
of the financial year
|
May
30,
2020
|
June 30,
2020
|
1
month
|
||
|
4.
|
Regulation
27(2) relating to Corporate Governance report
|
Quarterly
|
15 days
from the end
of the
quarter
|
April 15,
2020
|
May
15, 2020
|
1
month
|
||
|
5.
|
Regulation
31 relating to Shareholding Pattern
|
Quarterly
|
21 days
from
the end of the quarter
|
April 21,
2020
|
May
15, 2020
|
3
weeks
(appx.)
|
||
|
6.
|
Regulation
33 relating to Financial Results
|
Quarterly Annual
|
45 days
from the
end of the quarter for
quarterly results
|
May 15,
2020
|
June 30, 2020
|
45
days
|
||
|
|
|
|
60 days
from the
end of Financial Year for Annual
Financial
Results
|
May 30, 2020
|
June 30, 2020
|
1
month
|
||
B. Relaxation of time gap between two board /Audit Committee meetings:
|
Regulatory
provision
|
Relaxation
|
|
Regulation 17(2): The board of directors
shall meet at least four times a year, with a maximum time gap of one hundred
and twenty days between any two meetings.
|
The board of directors and Audit Committee of the listed entity
are exempted from observing the maximum stipulated time gap between two
meetings for the meetings held or proposed to be held between the period
December 1, 2019 and June 30, 2020.
However the board of directors / Audit Committee shall ensure that
they meet at least four times a year, as stipulated under regulations 17(2) and 18(2)(a)
of the LODR
|
|
Regulation 18(2)(a): The audit committee
shall meet at least four
times in a year and not more than one hundred and
twenty days shall elapse between two meetings
|
- Applicability of the Circular
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