SEBI allows top 100 companies to delay AGMs
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The Securities and Exchange Board of India (Sebi) on Thursday further relaxed compliance norms for companies and said top 100 companies by market capitalisation can hold their annual general meetings (AGMs) a month later than the usual stipulated August 31.
The relaxation comes in the wake of the coronavirus pandemic. A total of 649 cases have been detected in India so far, and the country is in the local transmission stage of the outbreak.
On Tuesday, Prime Minister Narendra Modi announced a nationwide lockdown to curb the spread of coronavirus pandemic.
Earlier this month, the market regulator eased norms on financial result disclosure for listed companies, it now provided further relaxation from compliance with certain provisions of the Listing Obligations and Disclosure Requirements (LODR).
It also relaxed the regulation relating certificate from Practicing Company Secretary on timely issue of share certificates by a month to May 31.
The yearly meeting of the nomination and remuneration committee, stakeholders relationship committee, and the risk management committee can also be held by June 30, instead of March 31 as stipulated earlier.
Last week, Sebi eased the deadline for publicly traded companies to file their earnings reports, among other steps, to help them cope with curbs imposed by the government to contain the spread of the coronavirus pandemic.
Companies, which had 45 days from the end of the quarter to file their quarterly earnings, will now get an extra 45 days. Also, annual audited figures, which needed to be filed in 60 days have now been extended by a month. In effect, the deadline to file both has been extended till June 30. #casansaar (Source - ETmarkets, Economic Times)
The relaxation comes in the wake of the coronavirus pandemic. A total of 649 cases have been detected in India so far, and the country is in the local transmission stage of the outbreak.
On Tuesday, Prime Minister Narendra Modi announced a nationwide lockdown to curb the spread of coronavirus pandemic.
Earlier this month, the market regulator eased norms on financial result disclosure for listed companies, it now provided further relaxation from compliance with certain provisions of the Listing Obligations and Disclosure Requirements (LODR).
It also relaxed the regulation relating certificate from Practicing Company Secretary on timely issue of share certificates by a month to May 31.
The yearly meeting of the nomination and remuneration committee, stakeholders relationship committee, and the risk management committee can also be held by June 30, instead of March 31 as stipulated earlier.
Last week, Sebi eased the deadline for publicly traded companies to file their earnings reports, among other steps, to help them cope with curbs imposed by the government to contain the spread of the coronavirus pandemic.
Companies, which had 45 days from the end of the quarter to file their quarterly earnings, will now get an extra 45 days. Also, annual audited figures, which needed to be filed in 60 days have now been extended by a month. In effect, the deadline to file both has been extended till June 30. #casansaar (Source - ETmarkets, Economic Times)
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