The Securities and Exchange Board of India ("SEBI") vide its circular dated December 24, 20191 has modified the SEBI circular bearing number SEBI/HO/DHS/DDHS/CIR/P/2019/115 dated October 22, 2019 ("CP Circular"). Pursuant to this circular:
(i) listed issuers (who have already listed their specified securities and/or 'Nonconvertible Debt Securities' (NCDs) and/or 'Non-Convertible Redeemable Preference Shares' (NCRPS)) who are in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), and/or issuers (who have outstanding listed Commercial Paper (CPs)) who are in compliance with Annexure II of CP Circular may 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;
(ii) if an issuer is required to prepare financial results for the purpose of consolidated financial results of its parent company in terms of Regulation 33 of SEBI LODR Regulations, such issuers could also submit financial results as quarterly financial results that have been prepared for the purpose of consolidation of their parent company.
1 Bearing number SEBI/HO/DDHS/DDHS/CIR/P/2019/167.
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