Pritam Ltd. is in the list of top 100 listed companies; of which financial year closes on 31st March, 2022. The company had its Annual General Meeting on September 10, 2022 and provided e-voting facility to its sharehold
CS Executive · Securities Laws and Capital Markets · PYQS · December 2022
Pritam Ltd. is in the list of top 100 listed companies; of which financial year closes on 31st March, 2022. The company had its Annual General Meeting on September 10, 2022 and provided e-voting facility to its shareholders. Whether the action of the Pritam Ltd. is tenable?
Answer & Explanation:
As per Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the top 100 listed entities by market capitalization, determined as on March 31st of every financial year, shall hold their annual general meetings within a period of five months from the date of closing of the financial year. In this case, the financial year closes on 31st March, 2022. Therefore, the AGM should have been held by 31st August, 2022. Pritam Ltd. held its AGM on September 10, 2022, which is beyond the stipulated period. Thus, the action of Pritam Ltd. is not tenable .
Topics: Corporate Governance
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