Companies get more time to file earnings
New Delhi, April 29: The 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 amidst the second wave of the Covid-19 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 virus situation and restrictions imposed by various state governments.
With respect to quarterly financial results, companies have been given 45 days till June 30, 2021 to file their March quarter results, the Sebi said in a circular.
Under the rules, companies are required to file their financial results within 45 days from the end of a quarter. As per that time frame, the deadline was 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 for filing yearly secretarial compliance report.
Along with financial results, the Sebi has given a 45-day relaxation for companies to file their fourthquarter statement of deviation or variation in use of funds report as well as an additional one-month time to submit their annual report in this regard.
In a separate circular, the regulator has 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) as well as municipal debt securities, from some compliance requirements.
The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs while it has given another 30 days till June 30, for filing annual earnings.
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.
Listed entities have been permitted to use digital signature certifications for authentication of filings/ submissions made to the stock exchanges under the Sebi (Listing Obligations and Disclosure Requirements) Regulations for all filings until December 31, 2021.
The Sebi also extended timelines for compliance with certain regulatory requirements by trading members, clearing members and depository participants. The deadline for maintaining call recordings of orders or instructions received from clients has been extended till June 30, 2021.
The regulator has given time till June-end to brokers for operating the trading terminals from designated alternate locations. The Sebi has extended time till July 31 for submission of internal audit report and net worth certificate for the second half.