Disclose reasons for delay in submission of financial results to stock exchanges within a day: SEBI tells cos

In case a company decides to delay the announcement of results prior to the due date, reasons have to be disclosed within one working day of taking such a decision, according to a SEBI circular

Press Trust of India November 19, 2018 19:08:19 IST
Disclose reasons for delay in submission of financial results to stock exchanges within a day: SEBI tells cos

New Delhi: SEBI on Monday asked listed companies to disclose detailed reasons for the delay in submission of financial results to the stock exchanges within one working day of the stipulated deadline.

In case a company decides to delay the announcement of results prior to the due date, reasons have to be disclosed within one working day of taking such a decision, according to a circular.

Disclose reasons for delay in submission of financial results to stock exchanges within a day SEBI tells cos

Representational image. Reuters.

Under the SEBI rules, the quarterly and annual financial results are to be submitted by listed entities to stock exchanges within 45 days and 60 days from the end of the quarter and financial year, respectively.

The latest circular comes into effect immediately, the Securities and Exchange Board of India (SEBI) said.

"The listed entity shall disclose detailed reasons for such delay to the stock exchanges within one working day of the due date of submission for the results," the regulator noted.

SEBI noted that there have been delays in the submission of financial results by certain listed entities in the past, but the reasons were not brought out clearly.

In such cases, the investors were often left unaware as to the reasons for such delays which may have had an impact on their investment decision, it added.

Hence, a need for disclosure of reasons for the delay in submission of financial results arises, it said.

Accordingly, the regulator has asked that "the listed entity shall disclose detailed reasons for such delay to the stock exchanges within one working day of the due date of submission of the results."

Updated Date:

also read

Noida International Airport in numbers: 1,300 hectares, Rs 10,500 crore
India

Noida International Airport in numbers: 1,300 hectares, Rs 10,500 crore

According to the Union Government, the airport will be the logistics gateway of northern India, and with its scale and capacity, the aerodrome will be a 'gamechanger' for Uttar Pradesh

ICSI CSEET 2021:Result to be released at 4 pm today on icsi.edu; check details here
India

ICSI CSEET 2021:Result to be released at 4 pm today on icsi.edu; check details here

Candidates who appeared in the CSEET 2021 exam can check their results at the official website at - https://www.icsi.edu/.

ICSI CSEET 2021: Results released at isci.edu; check direct link to download here
India

ICSI CSEET 2021: Results released at isci.edu; check direct link to download here

The CS exams for the session of December 2020 for Executive, Foundation and Professional programmes will now be held in December and in the month of January