On Wednesday, the Securities and Exchange Board of India (SEBI) further eased compliance requirements for listed companies affected due to adverse impact of coronavirus pandemic by extending the deadline for submitting their fourth-quarter as well as annual results to 31 July.
Earlier, the deadline to submit the financial results was 30 June. The development comes after Sebi received representations from listed entities, chartered accountant firms, and industry bodies, seeking further extension of time for filing of financial results for the quarter /half-year/financial year ended 31 March 2020.
The entities cited many reasons to seek the extension like the continuing lockdown, subsidiaries and associates situated in containment zones facing challenges in the audit process and other operational issues due to the pandemic.
Consequently, the regulator has decided to further extend the timeline for submission of financial results by a month to 31 July 2020, for the quarter and the year ended 31 March 2020, SEBI said in a circular.
Normally, listed companies are required to file their annual results within 60 days from the end of a financial year, while in the case of quarterly results, firms are required to file it within 45 days from the end of a quarter.
Similarly, the timeline for submission of half yearly and annual financial results for the period ended 31 March for entities that have listed non-convertible debentures, non convertible redeemable preference shares and commercial papers has also been extended to 31 July.