Securities and Exchange Board of India (Sebi) diktat to disclose the impact of the coronavirus pandemic on companies is turning out to be a hollow exercise.A Mint analysis of disclosures made by Nifty50 companies in their March quarter earnings showed that they made selective disclosures based on parameters of their choosing, fulfilling a compliance requirement but failing to observe the intent of the regulation.
Still, the disclosures give a glimpse of the difficulties companies are facing.On 20 May, Sebi asked listed firms to evaluate the impact of the pandemic on their business performance and financial results, both qualitatively and quantitatively, to the extent possible and disseminate the same.However, the disclosures have fallen.