Sebi looking into Jet Airways Q1 result postponement
Sebi is concerned about any possible lapses in terms of disclosures and corporate governance norms by Jet Airways
New Delhi: The Securities and Exchange Board of India (Sebi) is looking into Jet Airways’ deferring the announcement of June-quarter results following reservations expressed by the airline’s audit committee, sources said. The regulator is concerned about any possible lapses in terms of disclosures and corporate governance norms by Jet Airways. The regulator was also in touch with stock exchanges on the Jet Airways matter, they added.
Earlier, the BSE and the NSE sought a clarification from the company on the reason for the delay in announcing the result. “It is observed that the disclosure lacks certain information required to be disclosed to the exchange... while it is disclosed that the meeting is adjourned, the date and place of the adjourned board meeting are not stated,” the BSE said. Further, the exchange has also sought more clarification on matters pending for closure of Jet’s unaudited financial results for the quarter ended June 30, 2018.
In a BSE filing last night, the Naresh Goyal-run airline said its board had decided not to review the unaudited financial performance for the June quarter. “The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters,” the airline had said.
- Q2 results: HDFC Bank net profit rises 20.6% to Rs 5006 crore
- Govt, board eye asset sales to turn IL&FS around in six months
- Jet Airways sets jet sale, leaseback plan in motion to raise $800 mn
- Lenders accept ArcelorMittal resolution plan for Essar Steel
- #MeToo: Publicis India sacks executive creative director Ishrath Nawaz
Editor's Picks »
- India to put former top climate change official Rajendra Pachauri on trial for sexual harassment
- Rahul Gandhi hits out at KCR, claims Telangana reeling under debt
- Deve Gowda-Siddaramaiah display rare bonhomie ahead of Karnataka by-polls
- Govt allocates Rs 144 crore to AYUSH ministry for alternative medicines
- Esperanto, A language whose time never came
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed