SEBI relaxes Filing and Meeting requirements

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On 19 March 2020, SEBI issued a circular (SEBI/HO/CFD/CMD1/CIR/P/2020/38) providing relaxations in filing timelines under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”). They are as follows:
Reg no.
Nature of filing
Frequency
Original due date
Relaxation period
Extended due date
7(3)
Compliance certificate on share transfer facility
Half yearly

One month from the end of each half of    the financial year
30 April 2020
1 month
31 May 2020
13(3)
Statement of Investor complaints
Quarterly

21 days from the end   of each quarter
21 April 2020
3 weeks
15 May 2020
24A [1]
Secretarial Compliance Report
Yearly

60 days from the end of the financial year 
30 May 2020
1 month
30 June 2020
27(2)
Corporate Governance Report
Quarterly

15 days from the end of the quarter
15 April 2020
1 month
15 May 2020
31
Shareholding Pattern
Quarterly

21 days from the end of the quarter
21 April 2020
3 weeks
15 May 2020
33
Financial Results
Quarterly

45 days from the end of the quarter
15 May 2020
45 days
30 June 2020
Annual

60 days from the end of Financial Year 
30 May 2020
1 month
30 June 2020

Regulations 17(2) and 18(2)(a) of the LODR require listed entities to conduct a minimum of 4 board and audit committee meetings each year, with a gap of no more than 120 days between two successive meetings. SEBI relaxed this requirement vide its circular (SEBI/HO/CFD/CMD1/CIR/P/2020/38) stating that although the Board and Audit Committee must meet no less than 4 times each year, listed companies are exempted from the need to observe the stipulated time lapse of 120 days between 2 successive meetings. This concession applies only to meetings that are to be held between 01 December 2019 and 30 June 2020.

[1] Read with circular No CIR/CFD/CMD1/27/2019 dated 08 February 2019

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