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| Exchange Disseminated Time | Saregama India Ltd has informed BSE that:
"The management has been progressing in preparation of Audited Accounts for the year ended March 31, 2014 with the intension of review and approval of the same by the Audit Committee and Board of Directors pursuant to Clauses 49 and 41 of the Listing Agreement respectively within May 30, 2014. Accordingly, unaudited financial results for the quarter ended March 31, 2014 along with the Limited Review report were not submitted to the Stock Exchanges.
Since the dates of the meetings of the Board and the Audit Committee of Directors could not be fixed in absence of both the Chairmen of Board as well as Audit Committee of Directors within May 30, 2014. The management felt that it will not be possible to meet the statutory deadline of May 30, 2014 It may be pertinent to note that even last year the Company has duly complied with similar statutory deadline of May 30 for Board approval and publishing of audited accounts and has always endeavored to meet statutory compliances.
In view of above, the Company required extension of time for getting the accounts audited and approved by the Board of Directors after review by the Audit Committee of Directors of the Company as also publication of the same in the newspapers latest by June 30, 2014 and earnestly request you to condone the said delay." |
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