Sebi panel favours easing listing norms

It has proposed the removal of the option of publishing the audited quarterly or half yearly results instead of unaudited quarterly results within one month of the company8217;s board8217;s limited review of the results.

It has also suggested that explaining the reasons for variation while declaring the results should be restricted to certain items like profit after tax and exceptional and extarordinary items.

Also, at the time of publishing quarterly and half-yearly or annual financials, the company should have the option to publish either stand-alone or consolidated results in the newspapers. However, the option excercised once should not be changed for the entire financial year.

The Malegam committee also suggests that in case the company changes its option in any subsequent year, it should furnish comparative figures for the previous financial year.

Further, if the company has opted to publish only consolidated financial results, the company should, in addition to publicatuion in newspapers, state therin the places such as its own Website, the stock exchanges, the EDIFAR Website where the other set of the financial results may be available for the reader8217;s use.

These proposed changes have been put for public comments on the Sebi Website under the head 8216;8216;Proposed Changes to Clause 41 of the Listing Agreement8217;8217;.