COVID wave: Sebi eases various compliance requirements

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Sebi on Thursday gave 45 days more for companies to file their fourth-quarter results as well as an additional one-month time to submit their annual results as the regulator eased compliance requirements amid the second wave of the coronavirus pandemic.

The move comes after the regulator received representations from listed entities, industry associations and market participants requesting extension of timelines for various filings and relaxation from certain compliance obligations due to the COVID second wave and restrictions imposed by various state governments.

With respect to quarterly financial results, companies have been given 45 days till June 30, 2021 to file their March quarter results, Sebi said in a circular.

Under the rules, firms are required to file their financial results within 45 days from the end of a quarter. As per that time frame, the deadline is May 15.

In the case of submitting results for the year ending March 31, the watchdog has extended the time till June 30 from the due date of May 30.

Normally, listed companies are required to file their annual results within 60 days from the end of a financial year.

In addition, a relaxation of one month till June 30 has been given with respect to filing of yearly secretarial compliance report.

Along with financial results, Sebi has given a 45-day relaxation for companies to file their fourth-quarter statement of deviation or variation in use of funds report as well as an additional one-month time to submit their annual report in this regard.

In a separate circular, the regulator has eased compliance requirements for entities that have listed their debt securities or bonds.

Sebi said it has decided to grant relaxation to listed entities that have listed their Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS) and Commercial Papers (CPs) as well as municipal debt securities, from certain compliance requirements.

The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs while it has given a time period of another 30 days till June 30, for filing annual earnings.

Also, it has extended timeline by 30 days for filing annual results for entities that have listed their bonds under the Sebi Municipal Bonds norms.

Listed entities have been permitted to use digital signature certifications for authentication of filings/ submissions made to the stock exchanges under the Sebi (Listing Obligations and Disclosure Requirements) Regulations for all filings until December 31, 2021. Further, Sebi said that entities that have listed their municipal bonds and commercial papers may also opt to use digitally signed documents for making filings with stock exchanges.