TaxTMI 
TaxTMI 
27 Jun 2020
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Securities Exchange Board of India (SEBI) vide Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/106 dated 24th June, 2020 has come out with 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
- The Circular was issued to:
- All listed entities
- All Recognized Stock Exchanges
- Previous Extension:
Two Circulars were issued:
1. Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020
(Regulation 33 of SEBI LODR)
|
Sl no. |
Regulation and associated filing |
Filing |
Relaxation w.r.t. the quarter / financial year ending March 31, 2020 |
|||
|
Frequency |
Due within |
Due Date |
Extended date |
Period of relaxation |
||
|
1 |
Regulation 33 relating to Financial Results |
Quarterly / Annual |
45 days from the end of the quarter for quarterly results 60 days from the end of Financial Year for Annual Financial Results |
15.05.2020 30.05.2020 |
30.06.2020 30.06.2020 |
45 days 60 days |
2. Circular No. SEBI/HO/DDHS/ON/P/2020/41 dated March 23, 2020.
(Regulation 52 (1) and (2) of SEBI LODR)
|
Sl no. |
Regulation and associated filing |
Filing |
Relaxation w.r.t. the quarter / financial year ending March 31, 2020 |
|||
|
Frequency |
Due within |
Due Date |
Extended date |
Period of relaxation |
||
|
1 |
Regulation 52 (1) and (2) relating to Financial Results |
Half yearly/ Yearly |
45 days from the end of the quarter for quarterly results 60 days from the end of Financial Year for Annual Financial Results |
15.05.2020 30.05.2020 |
30.06.2020 30.06.2020 |
45 days 60 d |
- Timeline Extended under previous Circulars:
SEBI has 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.
- Reason behind further extension from 30th June 2020 to 31st July 2020.
Various representation has been received by SEBI 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 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.
Final Relaxation from SEBI
SEBI has decided to:
1. 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 31st March 2020.
2. 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
- Applicability of this Circular: shall come into force with immediate effect.
Prepared by
CS Lalit Rajput
Cell: +91 8802581290
Email: lalitrajput537@gmail.com