What are the applicable legal/regulatory provisions regarding Stakeholders Relationship Committee ? You, as practicing Company Secretary, advise the board mentioning the provisions relating to the Composition and Functio

Provisions regarding Stakeholders Relationship Committee Section 178(5) of the Companies Act 2013 provides that the Board of Directors of following companies 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: 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. The Stakeholders Relationship Committee shall consider and resolve the grievances of security holders of the company. Regulation 20 of SEBI (LODR) Regulations, 2015 provides that every listed entity shall constitute a Stakeholders Relationship Committee to specifically look into the mechanism of redressal of grievances of shareholders, debenture holders and other security holders. Composition of the Committee Section 178(5) of the Companies Act 2013 and Regulation 20 of SEBI (LODR) Regulations, 2015 provides that- Stakeholders Relationship Committee shall consist of a chairperson who shall be a non-executive director. Other members of the committee shall be decided by the Board. The chairperson of the committees or, in his absence, any other member of the committee authorised by him in this behalf is required under the section to attend the general meetings of the company. Functions of the Committee The main function of the committee is to consider and resolve the grievances of security holders of the company. The role of the Stakeholders Relationship Committee shall be to consider and resolve the grievances of the security holders of the listed entity including complaints related to transfer of shares, non-receipt of annual report and non-receipt of declared dividends.