SME Times News Bureau | 23 Jul, 2021
The Securities and Exchange Board of India (SEBI) on Friday extended the
timeline for the top 100 companies to hold their Annual General
Meetings (AGM) due to the ongoing pandemic situation.
In a
circular, the capital market regulator said that such entities shall
hold their AGM within a period of six months from the date of closing of
the financial year for 2020-21.
The SEBI said that it is in
receipt of representations from listed entities and the Institute of
Company Secretaries of India (ICSI), requesting extension of time to the
top 100 listed entities for holding their AGM inter-alia due to the
Covid-19 pandemic.
After consideration, it has been decided to
extend the timeline for conduct of AGM by top-100 listed entities by
market capitalisation, it said.
Regulation 44(5) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations 2015
requires top 100 listed entities by market capitalisation to hold their
AGM within a period of five months from the date of closing of the
financial year.
The circular comes into force with immediate effect.
