The Securities and Exchange Board of India (SEBI) has in a Circular dated June 26, 2020, granted further relaxation on the maximum time gap to be maintained between two Board / Audit Committee meetings.
In an earlier Circular dated March 19, 2020, SEBI had relaxed the requirement of the maximum stipulated time gap of 120 days between two meetings of the Board and Audit Committees of listed entities. This relaxation was provided for the meetings held/proposed to be held between the period December 1, 2019 and June 30, 2020 in view of the COVID-19 pandemic.
Now, SEBI has extended this relaxation till July 31, 2020 keeping in mind the continued impact of the pandemic.
However, the board of directors and audit committees of listed entities must ensure that they meet at least four times a year, as stipulated under Regulations 17(2) and 18(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: Securities and Exchange Board of India
