SEBI extended timeline for submission of financial results ended on  31st March 2020 till 31^st July 2020

 

Securities Exchange Board of India (SEBI) vide Notification No. SEBI/HO/CFD/CMD1/CIR/P/2020/106dated 24^thJune, 2020 has come out with Further extension of time for submission of financial results for the quarter/halfyear/financial year ending 31st March 2020 due to the continuing impact of theCoVID-19 pandemic

• The Circular was issued to:

 

1. All listed entities
2. All Recognized Stock Exchanges

 

• Previous Extension:

 

Two Circulars were issued:

1. Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020

(Regulation 33 of SEBI LODR)

Link: https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-virus-pandemic_46360.html

Sl no.	Regulation and associated filing	Filing		Relaxation w.r.t. the quarter / financial year ending March 31, 2020
		Frequency	Due within	Due Date	Extended date	Period of  relaxation
1	Regulation 33 relating to Financial Results	Quarterly / Annual	45 days from the end of the quarter for quarterly results   60 days from the end of Financial Year for Annual Financial Results	15.05.2020           30.05.2020	30.06.2020           30.06.2020	45 days           60 days

2. Circular No. SEBI/HO/DDHS/ON/P/2020/41 dated March 23, 2020.

Link: https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-and-certain-sebi-circulars-due-to-the-covid-19-virus-pandemic-cont-_46395.html

(Regulation 52 (1)and (2) of SEBI LODR)

Sl no.	Regulation and associated filing	Filing		Relaxation w.r.t. the quarter / financial year ending March 31, 2020
		Frequency	Due within	Due Date	Extended date	Period of  relaxation
1	Regulation 52 (1) and (2) relating to Financial Results	Half yearly/Yearly	45 days from the end of the quarter for quarterly results   60 days from the end of Financial Year for Annual Financial Results	15.05.2020           30.05.2020	30.06.2020           30.06.2020	45 days           60 days

• Timeline Extendedunder previous Circulars:

 

SEBI has extendedthe timeline for submission of financial results under regulations 33 and 52 of theSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODRRegulations’) to June 30, 2020 (extension of one month) due to the impact of theCoVID-19 pandemic.

 

• Reason behind further extension from 30^th June 2020 to 31^st July 2020.

 

Various representation has been received by SEBI from listed entities, Chartered Accountant firms, and industry bodies/associations seeking further extension of time for preparation, finalization and submission of financial results for listed entitiesdue to many reasons, like the continuinglockdown, subsidiaries and associates situated in containment zones making theaudit process challenging and other operational challenges due to the CoVID-19pandemic.

Final Relaxation from SEBI

SEBI has decided to:

1. further extend the timeline for submission of financial results under Regulation 33 of the LODR Regulations, by a month, to July 31, 2020, for the quarter and the year ending 31st March 2020.

2. The timeline under Regulation 52 of the LODR for submission of half yearly and/or annual financial results for the period ending March 31, 2020 for entities that have listed NCDs, NCRPS’, CPs, MDS’ is also extended to July 31, 2020

 

• Applicability of this Circular: shall come into force with immediate effect.

 

Link of the Circular:

https://www.sebi.gov.in/legal/circulars/jun-2020/further-extension-of-time-for-submission-of-financial-results-for-the-quarter-half-year-financial-year-ending-31st-march-2020-due-to-the-continuing-impact-of-the-covid-19-pandemic_46924.html

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