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.
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