Tuesday, December 6, 2022

COVID-19 second wave | SEBI gives listed companies more time to report the results.

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In view of the increasing COVID-19 cases in the country. The Securities and Exchange Board of India (SEBI) on 29 April decided to extend the deadline for presenting its quarterly and annual results to listed companies.

The market regulator has also relaxed compliance requirements for market intermediaries and debt funds.
SEBI has decided to relax the deadline to meet the statutory requirements following requests received from various industry associations, professional bodies and market participants. The regulator announced a similar exemption last year when the epidemic spread in the country.

Also read : One can tighten the screws on exchanges for technology glitches by punishing SEBI management: Source

SEBI has extended the deadline for filing annual results of listed companies by one month. As per Regulation 33 (3), the annual audited financial results will be recorded in 60 days from the end of the year, meaning before 30 May. This deadline has now been extended to 30 June. Similarly, quarterly financial results will be recorded. 45 days from the end of the year. It has been extended to 30 June from the due date of 15 May.

SEBI has also extended the time period for filing the annual secretarial compliance report till June 30.
The market watchdog has relaxed the deadline for market intermediaries to comply with regulatory requirements, and approved the demands of the Association of National Exchange Members of India. The deadline for uploading KYC application forms and customer support documents on the KRA system has been increased from 10 days to 15 days. It has given time till 31 July for reporting internal audit reports, net worth certificates of clearing members and risk-based supervision.

Also read : SEBI bans 3 entities in Infibeam Avenues Insider Trading case

SEBI has extended the deadline to July 31 for processing of remat request for various shareholder request and other regulatory filings and for request for duplicate share certificate.

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