27th November,
2018
NOTICE
Sub:
Disclosure of reasons for delay in submission of
financial results by listed entities
To all
Listed Companies
Attention
of such aforesaid listed companies are drawn to SEBI Circular Ref. No. CIR/CFD/CMD-1/142/2018 dated November 19, 2018 (copy available at CSE
web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
It is
mentioned in the said SEBI Circular that “Regulation 33 of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“Listing Regulations”), inter-alia, specifies timelines for
submission of financial results by listed entities. Accordingly, the quarterly
and annual financial results are to be submitted by listed entities to stock
exchanges within forty-five/sixty days from the end of the quarter/financial
year. It is expected that the listed entities shall adhere to the aforesaid
timelines for submission of financial results. ”
Now,
SEBI has additionally directed as follows:
“Accordingly,
if any listed entity does not submit its financial results in accordance with
the timelines specified in Regulation 33 of Listing Regulations, 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 as
required under Regulation 33. However, if the decision to delay the results was
taken by the listed entity prior to the due date, the listed entity shall
disclose detailed reasons for such delay to the stock exchanges within one
working day of such decision.
This is for information and necessary action.
CS Chandrani Datta
Executive-Listing