(Image source from: Economictimes.indiatimes.com)
SEBI announces relaxations for market participants:- India is currently under severe crisis because of the ongoing coronavirus second wave. The impact and spread are huge all over. Some of the state governments imposed lockdowns all over and there are talks that the country would head for a lockdown and the announcement from the Centre will be out soon. The securities market regulator SEBI has relaxed several compliance norms for several market participants and the listed companies. The Securities and Exchange Board of India (SEBI) announced that the deadline for the filing of the financial results for the first quarter that ended up on March 31st, 2021 has been extended to June 30th. The deadline initially was May 15th.
SEBI issued a circular which said "SEBI is in receipt of representations from listed entities, professional bodies, industry associations, market participants etc. requesting an extension of timelines for various filings and relaxation from certain compliance obligations under the LODR Regulations inter alia due to ongoing second wave of the Covid-19 pandemic and restrictions imposed by various state governments". SEBI also announced the relaxation of the requirement of uploading KYC application form within the next 10 working days. SEBI also provided 30 days time to clear the backlog of the Registered Intermediary. The internal audit reports, net worth certificate in margin trading and for half year ending will be extended till July 31st 2021.