Sebi Extends Relaxation On Sending Hard Copies Of Financial Statements Earlier, the regulator had reportedly given similar relaxations to listed companies till December 2022
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The Securities and Exchange Board of India (SEBI), on Thursday, has extended the relaxation to listed companies from dispatching physical copies of annual financial statements to the shareholders till 30th September 2023, according to a PTI report.
Earlier, the regulator had reportedly given similar relaxations to listed companies till December 2022. But this new decision has been taken after Sebi received representations from listed companies, seeking dispensation from requirements of sending hard copies of annual reports to the shareholders.
Against this backdrop, the watchdog has decided to provide relaxation till September 30, 2023 from listing obligations and disclosure requirements (LODR) regulations, pertaining to dispatching of hard copies of the annual report to shareholders, said Sebi in a circular.
As per the report, the capital market regulator also urges the companies to disclose the web-link to the annual report so as to enable shareholders to have access to the full annual report. However, Sebi said listed entities are required to send hard copies of full annual reports to those shareholders who request the same.
Sebi's extension comes after the Ministry of Corporate Affairs has also provided similar relaxations to companies dispatching physical copies of financial statements, including board's report, auditor's report or other documents to shareholders through a circular on December 28, 2022, stated the report.
