ICSI requests SEBI for an extension of timelines due to COVID-19

ICSI:PFP:2021 April 22, 2021 

Shri Amarjeet Singh 
Executive Director 
Securities and Exchange Board of India 
SEBI Bhavan, Plot No.C4-A, ‘G’ Block Bandra
Kurla Complex, Bandra (East) Mumbai – 400051

Subject : Request for extension of timelines due to COVID-19-reg. 

Respected Sir, 

As your goodself is aware that the second wave of COVID-19 pandemic is spreading fast and economy is again gripping in the crisis. The situation in the major cities is again worsening and Government has imposed various restrictions to curb the impact. In these challenging times, stakeholders are finding it difficult to meet the ends and function smoothly. Considering the current crisis, we request your esteemed office to consider relaxations in due dates of the following compliances: 

S.No.ParticularsTimelineSuggestion
SEBI (LODR) Regulations, 2015 
 1Regulation 44 (4) – Requirement of proxy forms  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  The requirement may be dispensed with upto December 31, 2021, in case of listed entities holding general meetings through electronic mode only 
 2Regulation 44(5)- Holding of Annual General Meetings for top 100 listed entities The top 100 listed entities by market capitalization, determined as on March 31st of every financial year, shall hold their AGM within a period of five months from the date of closing of the financial year i.e by 31st August, 2021 The extension in holding the AGM may be granted upto 30th September, 2021. 

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