SEBI eases compliance norms amid curbs due to Covid surge

Listed companies get more time to submit financial results

SEBI eases compliance norms amid curbs due to Covid surge

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New Delhi, April 29

SEBI on Thursday gave 45 days more for companies to file their fourth-quarter results and an additional one-month time to submit their annual results as the regulator eased compliance requirements amid the second wave of the coronavirus pandemic.

The move comes after the regulator received representations from listed entities, industry associations and market participants requesting extension of timelines for various filings and relaxation from certain compliance obligations due to the Covid second wave and restrictions imposed by various state governments.

New guidelines

  • Listed companies have been given 45 days more to file their fourth quarter results and an additional one-month time to submit their annual results
  • In addition, a relaxation of one month till June 30 has been given with respect to filing of yearly secretarial compliance report
  • The regulator has also relaxed compliance requirement for entities that have listed their debt securities or bonds

With respect to quarterly financial results, companies have been given 45 days till June 30, 2021 to file their March quarter results, SEBI said in a circular.

Under the rules, firms are required to file their financial results within 45 days from the end of a quarter. As per that time frame, the deadline is May 15.

In the case of submitting results for the year ending March 31, the watchdog has extended the time till June 30 from the due date of May 30.

Normally, listed companies are required to file their annual results within 60 days from the end of a financial year. In addition, a relaxation of one month till June 30 has been given with respect to filing of yearly secretarial compliance report.

Along with financial results, SEBI has given a 45-day relaxation for companies to file their fourth-quarter statement of deviation or variation in use of funds report and an additional one-month time to submit their annual report in this regard. The regulator has also eased compliance requirement for entities that have listed their debt securities or bonds.

SEBI said it has decided to grant relaxation to listed entities that have listed their non-convertible debentures (NCDs), non-convertible redeemable preference shares (NCRPS) and commercial papers (CPs) and municipal debt securities, from certain compliance requirements. Also, it has extended timeline by 30 days for filing annual results for entities that have listed their bonds under the SEBI Municipal Bonds norms. — PTI

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