Further relaxation of compliances under SEBI (LODR) Regulations, 2015 & SOP on fines
March 26, 2020
In continuation of the relaxation of timelines for certain compliances under the SEBI (LODR) Regulations under SEBI Circular dated 19 March 2020 (refer KM Legal update below), SEBI has extended the timelines for (i) filing certificate from Company Secretary on timely issue of share certificates to 31 May 2020; (ii) holding of AGM by top 100 listed entities by market capitalization for FY 19-20 to 30 September 2020; (iii) meetings of Stakeholders Relationship Committee, Risk Committee and Remuneration Committee to 30 June 2020.
The requirement of publishing advertisements in newspapers under regulation 47 (notice of of board meetings, financial results etc.) for all events scheduled till 15 May 2020 has also been exempted.
Further, SEBI circular dated 22 January 2020 on the Standard Operating Procedure (SOP) for imposition of fines and other enforcement actions for non-compliances of provisions of the LODR, which was to become operational for compliance periods ending on or after 31 March 2020, will now come into force for compliance periods ending on or after 30 June 2020. The SOP circular dated 3 May 2018 will apply till such date.
To refer to the SEBI circular dated 26 March 2020, click here
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