Sebi extends exemption from sending hard copies of reports to shareholders

Sebi on Friday extended the relaxation given to listed companies from sending physical copies of financial statements to shareholders for annual general meetings (AGMs) by one more year till September 30, 2025.

The relaxation was valid till September 2024.

The fresh decision comes after Ministry of Corporate Affairs (MCA) through a circular on September 19, 2024, extended the relaxation from sending physical copies of financial statements (including board's report, auditor's report or other documents) to shareholders, for AGMs conducted till September 30, 2025.

Also, the Securities and Exchange Board of India (Sebi) had received representations to extend the relaxation.

Against this backdrop, the markets watchdog has decided to provide relaxation till September 30, 2025, from LODR (Listing Obligations and Disclosure Requirements) Regulations, pertaining to dispatching of hard copies to shareholders.

The LODR rules require listed companies to dispatch a hard copy of the statement containing salient features of all the documents -- financial statements, board's report, auditor's report -- to those shareholders who have not registered their e-mail addresses.

However, Sebi said listed entities are required to send hard copies of full annual reports to those shareholders who request the same.