The Securities and Exchange Board of India (SEBI) prescribes several compliance requirements for listed entities under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Due to the ongoing Novel Coronavirus pandemic has caused substantial disruption to business and impeded ordinary functioning. On 19th March 2020 SEBI issued a circular relaxing some compliance requirements under the listing regulations, effective immediately.
Timelines for Filings
SEBI has introduced relaxations in filing. The due date for the following has been extended:
|S.No.||Filing||Previous Due Date||Extended Date|
|1.||Quarterly Financial Results||15 May 2020||30 June 2020|
|2.||Annual Financial Results||30 May 2020||30 June 2020|
|3.||Shareholding Pattern||21 April 2020||15 May 2020|
|4.||Statement of Investor Complaints||21 April 2020||15 May 2020|
|5.||Corporate Governance Report||15 April 2020||15 May 2020|
|6.||Secretarial Compliance Report||30 May 2020||30 June 2020|
|7.||Compliance Certificate on Share Transfer Facility||30 April 2020||31 May 2020|
Time Gap between two Board Meetings/Audit Committee meetings
- The circular relaxes the maximum time gap between two board meetings or two audit committee meetings.
- The board of directors and audit committee of listed entities are exempted from observing the maximum time gap of 120 days for meetings scheduled between 1 December 2019 and 30 June 2020.
- However they may continue to comply with the requirement of meeting at least four times a year.