The Ministry of Corporate Affairs (“MCA”) vide General Circular No. 21/2020 dated May 11, 2020 which provided clarification on the mode of issue of the notice referred to in section 62(1)(a)(i) of Companies Act (“the Act”) read with section 62(2) of the Act for rights issue by listed companies, as the difficulties are being faced by companies in sending notices through postal or courier services on account of the threat posed by Covid-19.
2. Further in term of Circular
No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 issued by SEBI dated May 06, 2020, it was clarified that for the rights issues opening upto 31st July 2020, in case of listed companies, which comply with the aforementioned SEBI Circular dated 6th May, 2020, inability to dispatch the notice referred in para 1 of this Circular to their shareholders through registered post or speed post or courier would not be viewed as violation Of section 62(2) of the Act.
The circular can be accessed at: click here
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