SEBI gives big relief to companies struggling with second wave of Corona, will get such benefits

Market regulator SEBI (SEBI) has given a big relief to companies struggling with Coronavirus Pandemic. SEBI has extended the deadline to meet compliance requirements between the second wave of Corona. Under this, companies have been given a 45-day exemption to inform the results of the fourth quarter. Also, one month extra time has been given for announcing the annual results.

Letter of request to the Securities and Exchange Board of India (SEBI) for disclosure of various information from listed entities, industry circles and market participants due to restrictions placed in various states for Kovid epidemic and its prevention and to extend the deadline for certain compliance obligations. Were met.

Time to issue quarterly results

In a circular, SEBI said that in terms of quarterly financial results, companies have been given 45 days till June 30, 2021, to inform the results of the March quarter. Under the rules, companies announce financial results within 45 days of the end of the quarter. The deadline under this is 15 May. The deadline has been extended to June 30 to give the financial results for the financial year 2020-21.

Declaration to be made within 60 days

Generally, listed companies have to declare the annual results within 60 days of the end of the financial year. Apart from this, the time limit has been extended till June 30 to give information related to the records related to the company law. Apart from the financial result, SEBI has given additional time of 45 days to the companies to inform about the discrepancy or difference in the use of the fund. In this context, in the case of annual report, an additional month has been given.

In another circular, Sebi has also relaxed compliance rules for companies that have listed their bonds or debt securities. Under this, the regulator has extended the deadline for reporting half-yearly financial results by 45 days in the context of NCDs, NCRPS and CP. Also, to give information about the annual income, 30 days has been given till the 30th of June.

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