Market regulator SEBI has extended the timeline for submission of financial results for listed entities by one month till July 31 from its the earlier deadline of June 30 with immediate effect. SEBI, in a statement, said that under regulations 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR Regulations'), the deadline to file financial results by companies have been extended due to the impact of the COVID-19 pandemic.
The decision was taken after SEBI received representations from listed entities, chartered accountant firms, and industry bodies or associations, seeking further extension of time for preparation, finalisation and submission of financial results for listed entities for the quarter or half-year or financial year ending March 30.
They have cited 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.
"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 31st March 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," the Sebi notification said.
The capital market regulator had earlier extended the deadline to file the fourth quarter results till June 30 after coronavirus-induced lockdown forced offices to shut down across the world. Apart from this, SEBI also relaxed the listing obligations and disclosure requirements for the listed companies.