Explain in brief: Constitution of Stakeholders Relationship Committee.

According to Section- 178(5) & (6) of the Companies Act, 2013, the Board of Directors of a company which consists of more than one thousand shareholders, debenture-holders, deposit holders and any other security holders at any time during a financial year shall constitute a Stakeholders Relationship Committee consisting of a chairperson who shall be a non-executive director and such other members as may be decided by the Board. The Stakeholders Relationship Committee shall consider and resolve the grievances of security holders of the company. It shall meet atleast once in a year. The Committee should consist of least three directors, with at least one being an independent director. According to Regulation 20 of SEBI (LODR) Regulations, 2015, a committee under the Chairmanship of a non-executive director and such other members as may be decided by the Board of the listed entity shall be formed to specifically look into the redressal of grievances of shareholders, debenture holders and other security holders. This Committee shall be designated as 'Stakeholders Relationship Committee' and shall consider and resolve the grievances of the security holders of the listed entity including complaints related to transfer of shares, non- receipt of balance sheet, non-receipt of declared dividends.