The proviso to Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) inter-alia requires the top 100 listed entities by market capitalization and thereafter the top 250 listed entities by market capitalization to mandatorily verify and confirm, deny or clarify market rumours from the date as may be specified by SEBI. Further, SEBI vide Circular no. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/162 dated September 30, 2023, has made the said provision applicable to the top 100 listed entities by market capitalization from February 1, 2024, and to the top 250 listed entities by market capitalization from August 1, 2024.
It has been decided to extend the timeline for the effective date of implementation of the provision to regulation 30(11) of the LODR Regulations for the top 100 listed entities by market capitalization, to June 1, 2024, and for the top 250 listed entities by market capitalization, to December 1, 2024.
About the Author
