Additional relaxation in relation to compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 – Covid-19 pandemic

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..... isting Obligations and Disclosure Requirements) Regulations 2015 ( SEBI LODR / LODR ) and circulars issued thereunder vide the following circulars: No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020 , No. SEBI/HO/CFD/CMD1/CIR/P/2020/48 dated March 26, 2020, No. SEBI/HO/CFD/CMD1/CIR/P/2020/63 dated April 17, 2020 and No. SEBI/HO/CFD/CMD1/CIR/P/2020/71 dated April 23, 2020 . It has been decided to grant the following further relaxations / issue clarifications regarding provisions of the LODR in the face of challenges faced by listed entities due to the COVID-19 pandemic. A. Relaxations necessitating out of MCA circulars 2. The Ministry of Corporate Affairs (MCA), vide circulars d .....

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..... Regulation 44 (4) of the LODR specifies that the listed entity shall send proxy forms to holders of securities in all cases mentioning that a holder may vote either for or against a resolution. 6. The requirement under regulation 44 (4) of the LODR is dispensed with temporarily, in case of meetings held through electronic mode only. This relaxation is available for listed entities who conduct their AGMs through electronic mode during the calendar year 2020 (i.e. till December 31, 2020). iii. Requirement of dividend warrants/cheques 7. Regulation 12 of the LODR prescribes issuance of payable at par warrants or cheques in case it is not possible to use electronic modes of payment. Further, in case the amoun .....

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..... regulation 33(3)(b) of the LODR , in case a listed entity has subsidiaries, the listed entity shall submit quarterly/year-to-date consolidated financial results. 11. The Companies (Indian Accounting Standards (Ind-AS)) Rules, 2015 stipulate the adoption and applicability of Ind-AS in a phased manner beginning from the financial year 2016-17. Currently, Ind-AS is applicable to all listed entities with the exception of those in the banking and insurance sectors. RBI and IRDA have not yet notified the date of implementation of Ind-AS for banks and insurance companies, respectively. 12. SEBI has received representations from listed entities that are banks or insurance companies as well as those that have banks and / or insurance .....

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