The Securities and Exchange Board of India (Sebi) is unlikely to agree to India Inc’s demand of waiving financial results disclosures for the first quarter of this financial year. Industry bodies Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (Ficci) had requested the regulator to relax the norms due to the disruption caused by Covid-19. Sources said the regulator held an initial round of discussions and the general consensus was that such a move would lead to information asymmetry and wouldn’t uphold the interests of minority investors. Top Sebi officials said the pandemic and the consequent lockdowns had impacted businesses all over the world. However, none of the major global jurisdictions had announced such waivers.