Coronavirus Outbreak: SEBI offers extension to carry AGMs; grants 3-month’s time to conduct yearly committee conferences

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    Mumbai: Capital market regulator Securities and Trade Board of India (SEBI) on Thursday granted listed corporations one month’s extension to carry their annual common conferences (AGM) because of the 21-day COVID-19 induced lockdown.

     Coronavirus Outbreak: SEBI gives extension to hold AGMs; grants 3-months time to conduct yearly committee meetings

    Representational picture. Reuters.

    Beneath the principles, the highest 100 corporations must conclude their AGMs inside 5 months from the monetary yr closing.

    As most corporations have March year-ending, they’ve to carry their AGMs on or earlier than 31 August.

    The SEBI has prolonged this date to 30 September.

    The regulator has additionally granted a three-month extension to hold out yearly committee conferences on remuneration, threat administration and stakeholder relationships.

    The brand new deadline to conclude these conferences will probably be 31 June, as a substitute of 31 March.

    The SEBI has additionally supplied short-term exemptions to listed corporations  from publishing of newspaper commercial.

    Final week, it had introduced extensions in areas like submitting of shareholding sample and monetary outcome disclosures.

     

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    Up to date Date: Mar 26, 2020 18:55:02 IST

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