Extension of Timeline for Verification of Market Rumors by Listed Entities
Introduction:
In accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), this circular aims to address the extension of the timeline for the verification of market rumors by listed entities. The proviso to Regulation 30(11) of the LODR Regulations mandates the top 100 listed entities by market capitalization as of October 1, 2023, and the top 250 listed entities by market capitalization as of April 1, 2024, to verify and respond to market rumours.
Extension of Implementation Date:
The effective date for the implementation of the proviso to Regulation 30(11) of the LODR Regulations has been extended. The revised timeline will be as follows:
- For the top 100 listed entities by market capitalization: February 1, 2024.
- For the top 250 listed entities by market capitalization: August 1, 2024.
Regulatory Authority and Source:
This circular is issued under the authority granted by Section 11 of the Securities and Exchange Board of India Act, 1992, in conjunction with Regulation 101 of the LODR Regulations. More information can be found at www.sebi.gov.in.
Conclusion:
By extending the timeline for the verification of market rumors by listed entities, this circular aims to provide necessary flexibility and ensure smooth compliance with the LODR Regulations. It is essential for all affected entities to consider these changes and adhere to the revised implementation dates accordingly.
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