Capital markets regulator Sebi on Friday prolonged the relaxation to listed firms whereby they won’t be required to dispatch bodily copies of annual reports to their shareholders till December this year.
The determination has been taken after Sebi acquired a number of representations from listed firms, looking for dispensation from necessities of sending hard copies of annual reports to the shareholders.
Against this backdrop, the watchdog has determined to present relaxation up to December 31, 2022, from LODR (Listing Obligations and Disclosure Requirements) Regulations, which require firms to ship hard copies of annual reports to the shareholders who haven’t registered their e-mail addresses, in accordance to a round.
Further, the discover of Annual General Meeting printed by commercial in phrases of LODR guidelines, ought to comprise a hyperlink to the annual report in order to allow shareholders to have entry to the complete annual report.
“It is however emphasised that in terms of… LODR Regulations, listed entities are required to send hard copy of full annual report to those shareholders who request for the same,” Sebi stated.
Further, the requirement of sending proxy kinds has been disbursed with up to December 31, 2022, in case of basic conferences held via digital mode solely, as per the round.
The new framework wil come into pressure with rapid impact, the Securities and Exchange Board of India (Sebi) stated.
Earlier, the regulator had given comparable relaxations to listed firms till December 2021.
The newest transfer additionally comes after the Ministry of Corporate Affairs (MCA) on May 5 prolonged the relaxations from dispatching of bodily copies of monetary statements for the year 2022 till December 31, 2022.