Revised timeline under clause 41 of listing agreement

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Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Listed Companies provided a breather in respect of submission of Annual Audited Results for the Financial Year 2011-12

With reference to the amendments made to Cl 41 of the Listing Agreement, vide SEBI Circular dated 5th October 2011, the Capital Markets Regulator, SEBI has vide its letter dated 11th April 2012 issued to BSE & NSE, restored the extant option for the quarter ended FY 2011-12 and in respect of annual audited results for FY 2011-12, to either:

Submit limited reviewed Q4 results within 45 days from end of the quarter and thereafter submit annual audited results as soon as they are approved by the Board;

(or)

Submit annual audited results within 60 days from the end of fourth quarter along with Q4 results which would be a balancing figure.

The above relaxation for the FY 2011-12 has been provided keeping in view the representations received from the listed companies on the Q4 results and revised Schedule VI, being notified by MCA. The situation will be reviewed later on.

Please take note of the same.

Regards

Replies (12)

Ajay Mishra

Company Secretary

74352 Points Joined March 2009

Good Initiative By Regulatory...................................

Manoj

Article Trainee

602 Points Joined April 2012

that means there is no time limit for submission under the first option!

n bhiya wat is the current submission scenario..??

PAUL

27 Points Joined April 2012

But it would have been better if it was 90 days for audited results instead of 60 days. We can avoid limited review and present audited results directly within 90 days instead of 60 days. In the present development, a company has to necessarily do LR if it thinks it cannot finish audited accounts within 60 days but confident of finishing within 90 days. Hope if MCA gives this amendment also.

Karthikeya2020

Student

2030 Points Joined December 2011

Thanks for giving brief info about Clause 41...

Saira Bano Siddiqui

Chartered Accountant

52 Points Joined January 2009

So SEBI brought back the old provisions

Tapas Ruparelia

Indirect tax Consultant and Advisor

1082 Points Joined September 2009

Ankur sir, can you please provide the link of that circular?

Thanks a lot

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Originally posted by : CA Tapas Ruparelia
	Ankur sir, can you please provide the link of that circular? Thanks a lot

I have the copy of letter dated April 11, 2012 addressed to NSE and BSE officials from SEBI. But I am not able to attach the same here in forum. However I can send you the same via E-mail. So let me know your ID through PM.

Thanks