CoVID 19 concerns: Sebi gives 45-day relaxation to file Q4 financials

MUMBAI: The Securities and Exchange Board of India (Sebi), the market regulator, has given 45 days’ relaxation for companies to file their fourth quarter (Q4) financials and one month additional time to file their annual financials for 2019-20 in view of the concerns and restrictions resulting from CoVID 19.

Sebi has extended the timeline for several filings falling under the Listing Obligations and Disclosure Requirements (LODR)) Regulations, 2015.

The market regulator has also given one-month relaxation for filing quarterly corporate governance report and three weeks each for shareholding pattern and statement of investor complaint reports, the regulator said in its circular on Thursday.

“The CoVID 19 virus has hit populations around the world and has resulted in many restrictions, including free movement of people, thereby hampering businesses and day to day functioning of companies,” Sebi noted.

Sebi said the developments arising due to the spread of the virus warrant the need for temporary relaxations in compliance requirements for listed entities.

The board of directors and Audit Committee of the listed entities are exempted from observing the maximum stipulated time gap between two meetings for the meetings held or proposed to be held between the period December 1, 2019 and June 30, 2020.

Leave a Reply

Your email address will not be published. Required fields are marked *