Update on Conduct of AGM by Listed entities

Circular regarding Relaxation in respect of Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) on the holding of Annual General Meeting (AGM) of top 100 listed entities by market capitalization, because of the COVID-19 situation, on April 23, 2020.

Regulation 44 of SEBI (LODR) Regulations, 2015 – Meetings of Shareholders and Voting

1. The listed entity will provide the remote electronic voting facility to its shareholders, with respect to all shareholders’ resolutions, through the entity.
2. “The e-voting facility to be provided to the shareholders as required under sub-regulation (1), shall have to be provided in accordance with such conditions as are specified under the Companies (Management and Administration) Rules, 2014 or any amendments made therein.”
3. The listed entity is required to provide information regarding the voting results to the stock exchange within forty-eight hours of the conclusion of its General Meeting in the manner stipulated by the Board.
4. "The Listed Entity must distribute proxy forms to the holders of securities in all instances mentioning that a holder may cast their proxy either for or against each resolution."
5. The first 100 listed entities in terms of market capitalization, as atMarch 31st of every financial year, shall conduct their annual general meetings not later than a period of five months from the date of the close of the financial year.
6. The top 100 listed entities will offer a one-way live webcast of proceedings at the annual general meetings

Top 100 Listed Entities whose financial year ended on March 31, 2020

Top 100 Listed entity whose financial year ended on December 31, 2019, may hold AGM within a period of nine months from the closure of financial year i.e. by September 30, 2020

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