Announcements by SEBI
Announcements by SEBI:
The Securities and Exchange Board of India (SEBI) had on 5th day of August 2020 issued the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2020
The amendments are made in sub-regulation 1 of regulation 42 as under:
All listed entities are now required to intimate the record date to the stock exchanges where stock derivatives are available on the stock of the listed entity or where listed entity’s stock form part of an index on which derivatives are available, in addition to the stock exchanges where the entities are listed concerning the following matters:
(a) declaration of dividend; (b) issue of right or bonus shares; (c) issue of shares for conversion of debentures or any other convertible security; (d) shares arising out of rights attached to debentures or any other convertible security; (e) corporate actions like mergers, de-mergers, splits, etc.; (f) such other purposes as may be specified by the stock exchange(s).
The complete text of the circular can be viewed at below link:
Announcement by MCA:
Clarification on the extension of time for holding Annual General Meeting
Ministry of Corporate Affairs (MCA) vide circular no. 28/2020 dated 17th day of August 2020 has clarified and reiterated that in furtherance to the relaxations already granted concerning holding of Annual General Meetings (AGM) for the financial year ended 31st day of March 2020 by way of Video Conferencing (VC) or Other Audio-Visual Means (OAVM) during the calendar year 2020, the companies which are unable to convene their AGM within the stipulated time period as mentioned under Section 96 of the Companies Act, 2013, are hereby again advised to apply before the office of Registrar of Companies (ROC) by filing form GNL-1 seeking its permission for holding AGM beyond September 30, 2020.
Further, vide the said circular, MCA has advised the office of ROC to consider all such applications (filed in Form GNL-1) liberally in view of the hardships faced by the stakeholders and to grant the extension for the period as applied for (up to three months) in such application.
The complete text of the circular can be viewed at below link:
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.28_17082020.pdf
Last Updated: 21st August 2020 This article is contributed by:Â
Luv Malhotra Senior Manager, Legal
Tag: SEBI