SEBI Extends Waiver on Sending Physical Financials to NCS Holders

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  • Last Updated on 7 June, 2025

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SEBI physical dispatch relaxation 2025

Circular SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2025/83 dated 05-06-2025

As per Regulation 58(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), a listed entity is required to send a hard copy of the statement containing the salient features of all documents specified under Section 136 of the Companies Act, 2013, to those holders of non-convertible securities who have not registered their email addresses with the listed entity or any depository.

1. MCA Circular Extending Relaxation for Physical Dispatch

The Ministry of Corporate Affairs (MCA), vide General Circular No. 09/2024 dated September 19, 2024, extended the relaxation from the requirement of sending physical copies of financial statements (including Board’s Report, Auditor’s Report, and other annexed documents) to shareholders. This relaxation is now valid for Annual General Meetings (AGMs) held till September 30, 2025, as opposed to the earlier deadline of September 30, 2024.

2. SEBI Aligns with MCA – Relaxation for Listed Entities

In line with the MCA’s relaxation, SEBI has also extended relief to listed entities having non-convertible securities. Accordingly:

  • No penal action shall be initiated against such listed entities for non-sending of physical copies from October 1, 2024, to June 5, 2025, provided the entity complies with MCA’s General Circular No. 09/2024.

3. Additional Relaxation for the Period June 6, 2025 to September 30, 2025

SEBI has further provided similar relaxation for the period from June 6, 2025, to September 30, 2025, subject to the following condition:

  • The advertisement issued under Regulation 52(8) of the SEBI LODR Regulations must disclose the web-link to the statement containing the salient features of all documents as per Section 136 of the Companies Act.

Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied