Ayeman Ltd., a listed company, has recently received multiple complaints from its shareholders regarding delayed receipt of dividend payments, non-receipt of annual reports, and delays in issuance of duplicate share cert

Under Regulation 20 of SEBI (LODR) 2015, the Stakeholders Relationship Committee (SRC) plays a crucial role in safeguarding the interests of shareholders, debenture holders, and other security holders of a listed company. The Composition of the Committee shall be atleast three directors with atleast one independent director and the Chairperson being a non-executive director. The key responsibilities to address the grievances and ensure compliance are as follows: Resolving Security Holder Grievances: The Committee must examine and resolve complaints relating to transfer or transmission of shares, non-receipt of annual reports, non-receipt/ delayed receipt of declared dividends, issuance of new or duplicate share certificates, and other general meeting issues. In this case, complaints regarding delayed dividend payments, non-receipt of annual reports and issue of duplicate certificates must be addressed promptly through liaison with the Registrar & Share Transfer Agent (RTA) and/or internal departments to ensure timely resolution. Review of Voting Rights Facilitation: The Committee is required to review measures taken by the company to ensure shareholders can effectively exercise their voting rights. This includes verifying that voting through electronic means or at the Annual General Meeting (AGM) is accessible and well communicated. The Chairperson's presence at the AGM, as mandated, will facilitate direct responses to shareholder queries. Monitoring Service Standards of RTA: The Committee should evaluate adherence to service standards adopted by the company in respect of the RTA. Delays in dividend payments and share transfers indicate potential service gaps; the Committee should review these, recommend corrective measures, and establish monitoring mechanisms to prevent recurrence. Reducing Unclaimed Dividends and Timely Communication: The Committee must review initiatives aimed at reducing unclaimed dividends and ensuring timely delivery of dividend warrants, annual reports, and statutory notices. For Ayeman Ltd., this could involve implementing automated reminders, periodic reconciliations, and direct shareholder communication to improve transparency and compliance. Debenture Holder Grievances: Grievances related to debenture interest payments, principal repayment, creation of charge, or maintenance of security cover must be addressed. The Committee should verify that all covenants are adhered to, liaise with finance and compliance teams, and recommend remedial measures for any lapses. Compliance and Meetings: As per Regulation 20(3A), the Committee must meet at least once a financial year. These meetings provide an opportunity to review grievance trends, corrective actions, and compliance with Part D of Schedule II. Documentation of actions and outcomes ensures accountability and enhances stakeholder confidence. By diligently performing these responsibilities, the Stakeholders Relationship Committee ensures Company's compliance with SEBI Regulations, resolves security holder grievances effectively, and strengthens trust among shareholders and debenture holders. This proactive approach aligns operational efficiency with regulatory expectations, safeguarding the interests of all stakeholders.