SEBI further extends time for submission of financial results due to CoVID-19 pandemic

SEBI further extends time for submission of financial results for the quarter/half year/financial year ending 31st March 2020 due to CoVID-19 pandemic

Securities and Exchange Board of India

CIRCULAR

SEBI/HO/CFD/CMD1/CIR/P/2020/106

June 24, 2020

To
All listed entities
All Recognized Stock Exchanges

Madam / Sir,

Sub: 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

1. SEBI, vide circular No.  SEBI/HO/CFD/CMD1/CIR/P/2020/38  dated  March  19,  2020 and circular No. SEBI/HO/DDHS/ON/P/2020/41 dated March 23, 2020,had extended the  timeline  for  submission  of  financial  results  under regulations 33 and  52 of the SEBI (Listing  Obligations  and  Disclosure  Requirements)  Regulations,  2015  (‘LODR Regulations’) to  June  30,  2020  (extension  of  one  month)  due  to the  impact  of  the CoVID-19 pandemic.

2. SEBI has received representations 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 entities for the quarter/half year/financial year ending 31^st March 2020, due to many reasons, like the continuing lockdown,  subsidiaries  and  associates  situated  in  containment  zones making  the audit  process  challenging  and  other  operational  challenges  due  to  the  CoVID-19 pandemic.

3. After taking into consideration the aforementioned issues, it has been decided to 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 31stMarch 2020. Similarly, 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.

4.This Circular shall come into force with immediate effect. Stock Exchanges  are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate on their websites.

5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 33, 52 and 101 of the LODR Regulations.

6. This Circular is available at www.sebi.gov.inunder the link“Legal>Circulars”.

Yours faithfully,

Pradeep Ramakrishnan
General Manager
Corporation Finance Department
Compliance and Monitoring Division-1
+91-22-26449246
pradeepr@sebi.gov.in

• AO can’t take two different stands on immunity u/s 270AA(2) for a same transaction
• ITAT held 2000 gram jewellery reasonable in view of customary practices & CBDT Instruction
• Documents obtained post search & information obtained from public domain not incriminating material
• No second reopening for unexplained credits in bank due to bank’s name change
• FDCM invites application for empanelment of practising CAs/ Chartered Accountant Firms