The Securities and Exchange Board of India has in a circular dated 24th December,2019 made certain amendments to the Annexures to its earlier circular dated October 22, 2019 on Framework for Listing of Commercial Paper (“CP Circular”).
- Earlier only listed issuers, who had already listed their specified securities and/or ‘Non-convertible Debt Securities’ (NCDs) and/or ‘Nonconvertible Redeemable Preference Shares’ (NCRPS), who were in compliance with SEBI (Listing obligations and Disclosure Requirements) Regulations 2015 (“SEBI LODR Regulations”) had the option to file unaudited financials with limited review for the stub period in the current financial year, subject to making necessary disclosures in this regard including risk factors.
Now, issuers, who have outstanding listed Commercial Paper (CPs), and who are in compliance with Annexure II of the CP Circular may also file unaudited financials with limited review for the stub period in the current financial year, accordingly instead of the prescribed audited financials.
- Earlier, an issuer was required to prepare financial results for the purpose of consolidated financial results of its parent company according to the SEBI LODR Regulations.
Now, such issuers can also submit quarterly financial results that have been prepared for the purpose of consolidation of their parent company.