SpiceJet To Announce Delayed Financial Results
\n\nCash-strapped airline SpiceJet on Friday said it will announce its long-pending financial results by December 7, setting a deadline to comply with regulatory requirements after facing a warning from one of India's leading stock exchanges. The development comes after the exchange cautioned that trading in the airline's shares could be suspended if it failed to declare its overdue financial results within the stipulated timeline.
\n\nThe Bombay Stock Exchange (BSE) in Mumbai, in a notice on Monday, said it would suspend trading in SpiceJet shares from December 10 because the airline had not filed its results for the March and June quarters.
\n\nThe suspension will not take effect if SpiceJet complies with listing rules to the exchange's satisfaction by December 7, the notice said. BSE said that during any suspension, the shares held by SpiceJet's controlling shareholders, along with other securities in their electronic securities accounts, would be frozen.
\n\n"The completion of audit has taken longer time and hence caused delay in filing of results," a SpiceJet spokesperson told Reuters.
\n\nThe airline also said it had obtained an extension from the Registrar of Companies to hold its annual shareholder meeting for the financial year ended…
Original source: https://www.timesnownews.com/business-economy
