Capital markets regulator Sebi on Friday prolonged the relief to listed corporations whereby they won’t be required to dispatch bodily copies of annual studies to their shareholders until December this yr.
The resolution has been taken after Sebi obtained a number of representations from listed corporations, searching for dispensation from necessities of sending onerous copies of annual studies to the shareholders.
Against this backdrop, the watchdog has determined to supply leisure as much as December 31, 2022, from LODR (Listing Obligations and Disclosure Requirements) Regulations, which require corporations to ship onerous copies of annual studies to the shareholders who haven’t registered their e-mail addresses, in accordance with a round.
Further, the discover of Annual General Meeting printed by commercial by way of LODR guidelines, ought to include a hyperlink to the annual report in order to allow shareholders to have entry to the total annual report.
“It is however emphasised that in terms of… LODR Regulations, listed entities are required to send hard copy of full annual report to those shareholders who request for the same,” Sebi mentioned.
Further, the requirement of sending proxy kinds has been allotted with as much as December 31, 2022, in case of basic conferences held by digital mode solely, as per the round.
The new framework wil come into pressure with quick impact, the Securities and Exchange Board of India (Sebi) mentioned.
Earlier, the regulator had given related relaxations to listed corporations until December 2021.
The newest transfer additionally comes after the Ministry of Corporate Affairs (MCA) on May 5 prolonged the relaxations from dispatching of bodily copies of economic statements for the yr 2022 until December 31, 2022.