COVID-19 pandemic: Crisil postpones AGM due later this month

New Delhi, Apr 8 () Credit rating firm Crisil on Wednesday said it has postponed its annual general meeting, which was scheduled for later this month, due to the coronavirus pandemic.

The company's 33rd annual general meeting (AGM) was to be held on April 21.

"The prevailing lockdown and restrictions on mass congregations in Mumbai, which commenced on March 21, 2020 in view of the COVID-19 pandemic, constrained the company from fully completing the dispatch of physical copies of the annual report to our shareholders," Crisil said in a regulatory filing.

It also said the current circumstances do not allow a smooth and safe conduct of the AGM and in the safety of all stakeholders, in keeping with government advisories on COVID-19, the board of directors has decided to postpone the AGM.

The company will announce a new date for the AGM in due course, it said.

In view of the above, the e-voting processes for the AGM and the dividend payment date would also stand postponed, it said.

However, the book closure, announced earlier by the company for the purpose of determining the entitlement of shareholders for the final dividend, will remain unchanged on April 7 and 8 (Tuesday and Wednesday).

"Accordingly, the dividend, when approved by the members at the rescheduled AGM of the company, will be made payable to those members whose names appear on the register of members as on the aforesaid book closure date," the ratings agency said.

Shares of Crisil on Wednesday was trading at Rs 1,251.95 apiece on the BSE, up 2.54 per cent from the previous close. KPM HRS