SEBI amends Clause 41: companies may file audited or unaudited quarterly results with limited review and publication rules. Revised Clause 41 allows companies to file audited or unaudited quarterly and year-to-date results within one month of quarter end; unaudited results must undergo a limited review with the report submitted within two months. Explanations for variations are required only for net profit/loss after tax and exceptional/extraordinary items where variation exceeds 10% or Rs. 10 lakhs. Companies with subsidiaries may submit consolidated results and must publish and disclose stand-alone or consolidated figures as prescribed. Quarterly results require Board or authorised committee approval, authentication by senior officers, and immediate submission to the exchange in specified formats, with compliance effective for accounting periods from July 1, 2007.
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Provisions expressly mentioned in the judgment/order text.
SEBI amends Clause 41: companies may file audited or unaudited quarterly results with limited review and publication rules.
Revised Clause 41 allows companies to file audited or unaudited quarterly and year-to-date results within one month of quarter end; unaudited results must undergo a limited review with the report submitted within two months. Explanations for variations are required only for net profit/loss after tax and exceptional/extraordinary items where variation exceeds 10% or Rs. 10 lakhs. Companies with subsidiaries may submit consolidated results and must publish and disclose stand-alone or consolidated figures as prescribed. Quarterly results require Board or authorised committee approval, authentication by senior officers, and immediate submission to the exchange in specified formats, with compliance effective for accounting periods from July 1, 2007.
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