The Securities and Exchange Board of India (SEBI) vide a circular dated March 19,2020 has decided to grant temporary relaxations from compliance stipulations specified under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) to listed entities due to the spread of CoVID-19 virus around the world which is hampering businesses and day to day functioning of companies.
Following are the relaxations granted by SEBI:
| Regulation | Relaxation w.r.t. the Quarter / Financial Year ending 31st March,2020 | |||
| Due Date | Extended Date | |||
| Regulation 7(3): Compliance Certificate on share transfer facility | April 30,2020 | May 31,2020 | ||
| Regulation 13(3): Statement of Investor Complaints | April 21,2020 | May 15,2020 | ||
| Regulation 24A: Secretarial Compliance Report | May 30, 2020 | June 30, 2020 | ||
| Regulation 27(2): Corporate Governance report | April 15,2020 | May 15,2020 | ||
| Regulation 31: Shareholding Pattern | April 21, 2020 | May 15,2020 | ||
| Regulation 33: Financial Results | Quarterly Filing: May 15, 2020 Annual Filing: May 30, 2020 | Quarterly Filing: June 30, 2020 Annual Filing: June 30, 2020 | ||
| Regulatory Provision | Relaxation |
| (BoD) shall meet at least four times a year, with a maximum time gap of 120 days between any two meetings. | The Bod and AC of listed entities are Exempted from observing the maximum time gap between two meetings held or to be held between the period Dec 1, 2019 and Jun 30, 2020. |
| Regulation 18(2)(a): The Audit Committee (AC) shall meet at least four times in a year and not more than one hundred and twenty days shall elapse between two meetings. | However the board of directors / Audit Committee shall ensure that they meet at least four times a year. |
Source: SEBI Circular: SEBI/HO/CFD/CMD1/CIR/P/2020/38
