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SEBISEBI events and governance

Reg 20 stakeholders relationship committee cadence

At least one stakeholders relationship committee meeting a financial year.

How this is timed

At least 1 a financial year

Regulator
SEBI
Category
SEBI events and governance
Form
Not specified
Last verified
2026-09-01
Read statutory basis

One meeting a financial year at minimum, under Reg 20(3A). LODR sets no maximum gap for this committee. The word financial was inserted with effect from 13 December 2024.

Deadlines counted from an event

These have no calendar date. The clock starts when the event happens.

At least 1 a financial year

The stakeholders relationship committee must meet at least once in a financial year, under Reg 20(3A). The word financial was inserted with effect from 13 December 2024. LODR fixes no maximum gap between two meetings of this committee.

The rule

Stated as the law states it, so you can work out any period yourself.

At least 1 a financial year

The stakeholders relationship committee must meet at least once in a financial year, under Reg 20(3A). The word financial was inserted with effect from 13 December 2024. LODR fixes no maximum gap between two meetings of this committee.

Who must comply

  • Every entity with specified securities listed on a recognised stock exchange
  • The stakeholders relationship committee constituted under Reg 20(1)

Carve-outs

  • Reg 15(2) exempts an entity with paid-up equity share capital of ₹10 crore or less and net worth of ₹25 crore or less, and an entity listed on the SME Exchange, from Reg 17 to Reg 27.

Statutory basis

Read the provision here where we hold it, or on the regulator's site.

Before you file

  • Fix at least one committee meeting date in the financial year.
  • Get the investor complaint data from the registrar and transfer agent.
  • Get the SCORES and the exchange grievance records for the year.

How to file

  1. 1Hold at least one stakeholders relationship committee meeting in the financial year.
  2. 2Review the investor grievance position at that meeting.
  3. 3Report the meeting count and dates in the quarterly governance filing.

No separate filing. Reported through the quarterly governance report to the exchanges

If you miss it

No per-day exchange fine is asserted here, because this provision is not on the fine table we have verified. A breach of a corporate-governance condition is a breach of listing conditions, which section 23E of the Securities Contracts (Regulation) Act reaches at not less than ₹5 lakh and up to ₹25 crore. SEBI's other head is section 15HB of the SEBI Act, the residual penalty that applies where the Act provides no specific penalty for the contravention. Section 15A(b) is not the right head, because a missed meeting is not a failure to furnish information.

  • The default shows in the quarterly governance report inside Integrated Filing (Governance), so it becomes visible to the exchange and to investors without any separate complaint
  • SEBI has moved to a settlement route for many governance defaults, which still carries a settlement amount and an admission on the record

Recent changes affecting this

From the regulator's own circulars and notifications.

sebi07 Apr 2026Circular

Relaxation from SEBI Master Circular for Minimum Public Shareholding Non-Compliance

The Securities and Exchange Board of India (SEBI) has granted a one-time relaxation from penal provisions regarding Minimum Public Shareholding (MPS) requirements. This relief applies to listed entities whose compliance deadline falls between April 1, 2026, and September 30, 2026. Stock exchanges and depositories are directed to refrain from taking penal actions, such as levying fines or freezing promoter shareholding, for non-compliance during this period. Furthermore, any penal actions already initiated against such entities for non-compliance occurring between April 1, 2026, and the date of this circular must be withdrawn. This measure is in response to market volatility caused by geopolitical tensions in the Middle East.

Common questions

How often does this committee have to meet?

Once a financial year at minimum. Reg 20(3A) sets no maximum gap between meetings.

Last verified 2026-09-01. Confirm against the official source before you rely on it.