Listed Companies Got More Time To Submit The Results
Listed companies got more time to submit the results, SEBI granted deferment: The second wave of Covid.
Capital market regulator SEBI has extended the deadline to meet compliance requirements for listed companies amid Corona’s second wave.
Under this, companies have been given an additional extension of 45 days to inform the fourth-quarter financial results and one month for announcing annual results.
Among the restrictions imposed in several states to prevent corona infection, companies, industry organizations, and other parties urged SEBI to extend the deadline for compliance obligations.
Under the rules, companies announce financial results within 45 days of the end of every quarter and 60 days after the end of the financial year.
Under the new arrangement, the results of the last quarter of the financial year 2020-21 will now be able to be filed by June 15 and the annual results by June 30.
Apart from this, the time limit has been extended till June 30 for providing information related to the records under the Companies Act.
Listed companies generally have to submit annual results within 60 days of the end of any financial year.
Sebi has relaxed compliance rules for regulators providing debt securities and bond lists in another circular.
The regulator has announced some exemptions from non-convertible debentures (NCDs), non-convertible redeemable preference shares (NCRPS), and commercial paper as well as certain compliance rules to units that carry a municipal debt security list.
The regulator has extended the deadline for 45 days to 30 June to present half-yearly financial results for NCDs, NCDs, NCRPS, and CPs.
Apart from this, the period of submission of data related to annual earnings has also been extended for 30 days.
Sensex lost 400 points in early trade, Nifty came down by 14,800 points, HDFC Bank fell the most.
The leading domestic index Sensex slipped more than 400 points in early trade on Friday.
Domestic stock markets slipped in early trade amid selling in major stocks such as HDFC Bank, HDFC, ICICI Bank, and Kotak Mahindra Bank and negative signals in Asian stock markets.
BSE Sensex was trading at a level of 49,341.24 in early trade with a break of 424.70 points, or 0.85 percent. Similarly, NSE Nifty was trading at 14,777.25 points, down by 117.65 points, or 0.79 percent.
