New Delhi: Delhi-based realty player Unitech Ltd has postponed its board meeting to 31st August to approve financial results for the June quarter as it requires more time to prepare the said results.
According to a new regulation of stock market regulator SEBI, at least eighty percent of each of the consolidated revenue, assets and profits must be subject to audit for purpose of declaring consolidated financial results.
“The process to comply with the said Regulation is underway and the Company needs more time for the same. Therefore, the Chairman of the Company after consultation with other Directors. Auditors and Chief Financial Officer, decided to postpone/adjourn the Board meeting to Saturday. 31“ August, 2019. Accordingly the items w.r.t. the Un-audited Financial Results for the quarter ended 30″I June. 2019 and other related business will now be considered on Saturday, 31″ August, 2019,” the company said in a filing to Bombay Stock Exchange.
The company had earlier communicated that the board meeting was to be held today, 14th August to declare the results of June quarter.