Sebi relaxes disclosure timelines for municipalities issuing debt securities

New Delhi: Capital markets regulator Sebi relaxed the timelines for listed municipalities to submit financial results to stock exchanges, giving them more time to meet disclosure requirements.

Under the revised framework, listed municipalities will now have to submit half-yearly unaudited financial results within 60 days at the end of the first half-year, compared with the earlier 45-day deadline.

Annual audited financial results will have to be submitted within 90 days from the end of the financial year along with the audit report, against the earlier 60 days, according to a circular.