Sebi extends rest until Dec on listed cos’ sending exhausting copies of annual stories to shareholders

Capital markets regulator Sebi on Friday prolonged the comfort to listed firms whereby they won’t be required to dispatch bodily copies of annual stories to their shareholders until December this 12 months.

The choice has been taken after Sebi acquired a number of representations from listed firms, in search of dispensation from necessities of sending exhausting copies of annual stories to the shareholders.

Against this backdrop, the watchdog has determined to offer rest as much as December 31, 2022, from LODR (Listing Obligations and Disclosure Requirements) Regulations, which require firms to ship exhausting copies of annual stories 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 stated.

Further, the requirement of sending proxy varieties has been distributed with as much as December 31, 2022, in case of normal conferences held by digital mode solely, as per the round.

The new framework wil come into power with speedy impact, the Securities and Exchange Board of India (Sebi) stated.
Earlier, the regulator had given comparable relaxations to listed firms 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 monetary statements for the 12 months 2022 until December 31, 2022.

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