Extension of timeline for verification of market rumours by listed entities
Summary
SEBI extends the timeline for listed entities to verify market rumours under Regulation 30(11) of the LODR Regulations. The new effective date is June 1, 2024, for the top 100 listed entities by market capitalization. For the top 250 listed entities, the implementation deadline is extended to December 1, 2024.
Text
The proviso to Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 requires top 100 and subsequently 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.
Considering that industry standards are under finalization and certain amendments to LODR Regulations are required, the timeline for effective date of implementation of the proviso to regulation 30(11) of the LODR Regulations is extended to June 1, 2024 for top 100 listed entities and to December 1, 2024 for top 250 listed entities by market capitalization.
Source: SecMarx — Extension of timeline for verification of market rumours by listed entities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.