KOCHI: Muthoot Captal Servces has admitted its failure in submitting the Modified/Un-Modified Opinion [Standalone] along with the Quick Result the company submitted to the stock market.
The company also acknowledged in its letter the delay in filing the Quick Result beyond the permitted 30 minutes, while also owning the mistake in using the term ‘Statement of Assets and Liabilities’ in place of ‘Balance Sheet’.
The Exchange had earlier sought clarification from Muthoot Capital Services with respect to Non-compliance as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The letter signed by the managing director of the company explained that while the Quick Result for the quarter and year ended March 31,2018 were filed with NSE, the company inadvertently missed to submit the Modified/Un-Modified Opinion “But subsequent to the Quick Result, we had submitted the Full Results on April 18, 2018 including the declaration for unmodified opinion on the Audit Report,” the letter added.
The company sought the exchange to condone the inadvertent error which was unintentional and “on a bona fide belief that there was no error on our part.”
With reference to the delay in filing the Quick Report, the company said it was caused due to a technical issue at the location of the board meeting and was beyond the control of the company.
“We will take steps to ensure that there will be no such delays in future. We request you to kindly take the above facts on record and condone the same,” the letter further said.