Capital markets regulator Sebi has relaxed compliance rules for entities with listed non-convertible securities from dispatching physical copies of annual report to the debenture holders till December-end.The development comes after the Ministry of Corporate Affairs (MCA) on May 5, extended the relaxations related to dispatching the physical copies of financial statements for the year 2022 till December 31, 2022.
Now, it has been decided to provide relaxation up till December 31, 2022, from the requirements of the Listing Regulations which prescribes that an entity, with listed non-convertible securities, shall send a hard copy of statement to those holders of non-convertible securities, who have not registered their email address either with the listed entity or with any depository, Sebi said in a circular issued on Friday.
The new framework will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said. Earlier, this relaxation was applicable till December 2021.The markets regulator, last week, gave similar relaxations to listed companies from sending hard copies of annual reports to shareholders who have not registered their email addresses up till December 2022.
However, listed entities are required to send a hard copy of the full annual report to those shareholders who have requested for the same. Also, till December-end this year, Sebi has dispensed with the requirement for sending proxy forms in case of general meetings held in the electronic mode only.