Market regulator Securities and Exchange Board of India (SEBI) has extended the deadline to file the results of the fourth quarter ended March 31 till June 30 amid coronavirus outbreak.
Moreover, it has temporarily relaxed the listing obligations and disclosure requirements to factor in the travel restrictions and free movement of people, which is likely to hamper businesses and the day-to-day functioning of companies, it said in a statement.
In the statement, SEBI stated "Coronavirus has hit people around the world and has resulted in several restrictions including free movement of people thereby hampering businesses and day to dayfunctioning of companies."
"Developments arisin g due to the spread of the virus warrant the need for temporary relaxations in compliance requirements for listed entities. Accordingly SEBI has decided to grant relaxations from compliance stipulations specified under the SEBI," the statement added.
The development will come into force with immediate effect it added.
SEBI also directed the stock exchanges to bring the circular to the notice of the listed companies and also them to update it on their websites.
The circular has been issued in the powers conferred under Section 11 (1) of the SEBI Act, 1992.
The detailed document from SEBI can be downloaded:
