Markets regulator SEBI on Wednesday gave relaxation of one month till September 15 to listed companies for submitting their June quarter results amid coronavirus pandemic.
The move comes after SEBI received requests for extension of time for submission of financial results for the quarter or half year ended June 30, due to the shortened time gap between the extended deadline for filing financial results for the period ended March 31 and the quarter or half year ended June 30.
"After consideration, it has been decided to extend the timeline for submission of financial results...for the quarter or half year or financial year ended June 30, 2020, to September 15, 2020," SEBI said in a circular.
Listed entities were required to submit the financial results for the quarter or half year ended June 30, 2020 on or before August 14, 2020.
Normally, listed companies are required to file their annual results within 60 days from the end of a financial year, while in the case of quarterly results, firms are required to file it within 45 days from the end of a quarter.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
In June, SEBI had given another month extension till July 31 to listed companies for submitting their fourth-quarter as well as annual results. Earlier, the deadline to submit the financial results was June 30.
The circular will come into force with immediate effect, Securities and Exchange Board of India (SEBI) said.Follow our full coverage of the coronavirus pandemic here.