Coronavirus Outbreak: SEBI relaxes AGM deadline for certain companies; gives time till September-end

Providing compliance relaxation amid the coronavirus pandemic, markets regulator SEBI on Thursday gave time till September-end to certain companies for conducting their annual general meetings

Press Trust of India April 24, 2020 12:37:52 IST
Coronavirus Outbreak: SEBI relaxes AGM deadline for certain companies; gives time till September-end

New Delhi: Providing compliance relaxation amid the coronavirus pandemic, markets regulator SEBI on Thursday gave time till September-end to certain companies for conducting their annual general meetings.

Relaxing the provisions of LODR norms, SEBI in a circular said, "The top-100 listed entities by market capitalisation whose financial year ended on 31 December, 2019, may hold their AGM within a period of nine months from the closure of the financial year (i.e., by 30 September, 2020)."

 <span class=Coronavirus Outbreak SEBI relaxes AGM deadline for certain companies gives time till Septemberend" width="380" height="285" class="size-full wp-image-4307425" />

Representational image. Reuters.

SEBI said the circular "shall come into force with immediate effect".

Under the Listing Obligations and Disclosure Requirements (LODR) norms, top-100 listed entities by market capitalisation are required to hold their annual general meetings (AGM) within five months from the date of closing of the financial year.

Click here to follow LIVE news and updates on stock markets

On Tuesday, the Ministry of Corporate Affairs also gave time till September-end for a certain section of companies to conduct their AGM. The relaxed deadline would be applicable only for companies whose financial year ended on 31 December, 2019, the ministry had said, amid the coronavirus pandemic and nationwide lockdown.

Updated Date:

also read

'Come together to defeat BJP': Mamata Banerjee discusses Oppn unity, Pegasus row with Sonia and Rahul
Politics

'Come together to defeat BJP': Mamata Banerjee discusses Oppn unity, Pegasus row with Sonia and Rahul

Banerjee's visit during the ongoing Parliament's Monsoon Session assumes increased significance with the Opposition cornering the Centre on price rise, increasing cost of fuel and COVID-19 pandemic

US lowers travel advisory for India: Why this change was made and travel situation with other countries
World

US lowers travel advisory for India: Why this change was made and travel situation with other countries

The United States' travel advisory comes as India recorded just 30,093 new coronavirus infections, its lowest in 125 days

Over 3.09 crore unutilised vaccine doses available with states and private hospitals, says Centre
India

Over 3.09 crore unutilised vaccine doses available with states and private hospitals, says Centre

It said that more than 45.37 crore vaccine doses have been provided to states and UTs so far through all sources and a further 59,39,010 doses are in the pipeline