Consolidated Financial Statements

Consolidated Financial Statements

Earlier, the Securities and Exchange Board of India (SEBI) required the listed entities to prepare Consolidated Financial Statements along with the separate financial statements of the Holding Company. Now, also the Companies Act, 2013 mandates the preparation of Consolidated Financial Statements (CFS) by all the Companies, including unlisted companies, having one or more Subsidiaries, associate companies or joint ventures. What is Consolidated Financial Statements (CFS)? Consolidation Financial Statements (CFS) is the combination of the financial […]

Annual General Meeting

Annual General Meeting requirement in case of Listed entities

Section 96 of the Companies Act, 2013 requires every Company other One Person Company (OPC) to conduct once a year a meeting, in addition to any other meeting, for its members, called as Annual General Meeting. Annual General Meeting requirement in case of Listed entities is lengthier than unlisted companies. If the Company is listed, it needs to comply further with the provisions of Securities and Exchange Board of India (SEBI), various other Regulations also […]

Relaxations granted by SEBI during COVID-19

COVID-19 – Relaxations granted by the Securities Exchange Board of India (SEBI)

The global outbreak of coronavirus (COVID-19) is an unprecedented event and it has led to lockdowns and unexpected restrictions on the public as well as the corporate sector across the world. Regulatory authorities have granted several relaxations to assist businesses to cope with the compliance burden and economic distress. Let’s discuss herein below a few relaxations granted by the Securities and Exchange Board of India (SEBI) 1. Extension for Disclosure Filings under the SEBI Takeover […]

Relaxations granted by SEBI during COVID-19

SEBI extend the timeline to file quarterly report Q4, FY19-20

Security Exchange Board of India (SEBI) has announced relaxation to the listed entities to file the fourth quarterly report Q4 and annual financial results relating to FY 2019-20 by June 30, 2020. The Corporates will now be required to file their quarterly financial results for the financial year 2019-20 up to June 30, 2020 given 45 days relaxations. As per the time frame, the deadline earlier was May 15, 2020. In the case of submitting […]

Relaxations granted by SEBI during COVID-19

SEBI to set up single platform for reporting in XBRL format

MUMBAI: Market regulator SEBI today said it will set up a single platform to help companies report and disseminate mandatory regulatory filings, including financial statements, in the new XBRL-based format. XBRL is a globally accepted standardised business reporting tool that enables easy dissection of bulk documents without delay. “SEBI is in the process of setting up a SEBI Unified Platform for Electronic Reporting and Dissemination (SUPER-D), which will be a XBRL (eXtensible Business Reporting Language) […]