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SEBI may not allow companies to waive disclosure of Q1 results: Report

Existing rules require companies to declare their results within 45 days after a quarter has ended. The first quarter of 2020-21 ends on June 30.

May 28, 2020 / 01:37 PM IST

Amid the COVID-19 outbreak, the Securities and Exchange Board of India (SEBI) may not let corporates waive disclosure of the current quarter's results.

Industry bodies - the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI) - earlier asked SEBI to ease the disclosure rules, the Business Standard reported.

Moneycontrol could not independently verify the story.

A SEBI spokesperson told the Business Standard that the market regulator was "yet to take a view on the matter".

SEBI said no important regulator across the globe had offered such waivers, the report said.

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"It is tricky both practically and theoretically, as stocks would trade without key financial disclosures for almost two quarters. This could lead to unnecessary volatility and speculation," a source told the publication.

CII said companies would anyway submit half-yearly results at the end of the September quarter while FICCI said companies should be permitted to release the Q1 results along with the Q2 results.

Existing rules require companies to declare their results within 45 days after a quarter ends. The first quarter of 2020-21 ends on June 30.
Moneycontrol News
first published: May 28, 2020 01:37 pm

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