The Securities and Exchange Board of India vide Circular dated 24th December 2019 has modified certain paragraph of commercial paper Circular issued on 22nd October 2019, based on representation received from the market participants.
Listed issuers with listed NCDs, NCRPS OR CPs who are in compliance with SEBI (Listing obligations and disclosure requirements) Regulations 2015 and 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.
However, 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 shall submit financial results or shall submit quarterly financial results that have been prepared for the purpose of consolidation of their parent company.
Click here to read the Notification.
