SEBI gives a month’s extension to hold AGMs due to COVID-19 lockdown


Mumbai (Maharashtra) [India], Mar 27 (ANI): Capital market regulator Securities and Exchange Board of India (SEBI) on Thursday granted listed companies one month’s extension to hold their annual general meetings (AGM) due to the 21-day Covid-19 induced lockdown.

Under the rules, the top 100 companies have to conclude their AGMs within five months from the financial year closing. As most companies have March year-ending, they have to hold their AGMs on or before August 31. SEBI has extended this date to September 30.

The regulator has also granted a three-month extension to carry out yearly committee meetings on remuneration, risk management and stakeholder relationships. The new deadline to conclude these meetings will be June 31, instead of March 31. SEBI has also provided temporary exemptions to listed companies from publishing of newspaper advertisement.

Last week, it had announced extensions in areas like filing of shareholding pattern and financial result disclosures.


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