SEBI has given additional time to companies to report fourth quarter results amid Corona’s second wave.
Capital market regulator Securities and Exchange Board of India (SEBI) has extended the time to meet Compliance requirements, relieving companies amid the second wave of Corona virus. Under this, companies have been given an additional time of one and a half months to declare Q4 results.
New Delhi. Capital market regulator Securities and Exchange Board of India (SEBI) has extended the time to meet Compliance requirements, giving companies big relief amidst the ever increasing cases of Corona virus. Under this, companies have been given a 45-day exemption to inform the results of the fourth quarter (Q4 Results). Also, one month extra time has been given for announcing annual results. SEBI had received requests from listed entities and industry boards for extension of time to meet various information and fulfill certain compliance obligations due to Kovid epidemic and restrictions imposed in various states for its prevention. After this, the board has taken this decision. Time to declare FY 2021 results extended to 30 June SEBI has issued a circular saying that companies have been given 45 days till June 30, 2021 to inform the results of the March 2021 quarter. Under the rules, companies are required to announce financial results within 45 days of the quarter ending. At the same time, the time limit has been extended till June 30 to give the financial results of the entire financial year 2020-21. Generally, listed companies have to declare annual results within 60 days of the end of the financial year. Also, under the Companies Act, the period of giving information related to the records has also been extended till June 30. read this also- ICICI Bank made a big announcement for retail traders! Overdraft facility up to 25 lakhs will be available without paperworkThe time for giving information about the shortcomings in the use of the fund is also extended. Apart from the financial results, the market regulator has given additional time of 45 days to companies to report the shortcomings or gaps in the use of the fund. At the same time, in the case of annual reports, an additional month has been given. SEBI has also relaxed compliance rules in another circular for companies that have listed their bonds or debt securities. Under this, the regulator has extended the 45-day deadline for reporting half-yearly financial results about non-convertible debentures (NCDs), non-convertible preferred preference shares (NCRPS) and commercial paper. Time has been given till June 30 to give information about the annual income.