Extension of timeline for verification of market rumours by listed entities
Summary
The Securities and Exchange Board of India (SEBI) has extended the implementation timeline for verifying market rumors under Regulation 30(11) of the LODR Regulations. The new effective date for top 100 listed entities by market capitalization is February 1, 2024, replacing the original October 1, 2023 deadline. For top 250 listed entities, the compliance date is extended to August 1, 2024, from the previously scheduled April 1, 2024.
Text
The proviso to Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 requires top 100 and top 250 listed entities by market capitalization to mandatorily verify and confirm, deny or clarify market rumours.
The effective date of implementation of the proviso to regulation 30(11) of the LODR Regulations for top 100 listed entities by market capitalization is extended to February 1, 2024.
The effective date of implementation of the proviso to regulation 30(11) of the LODR Regulations for top 250 listed entities by market capitalization is extended to August 1, 2024.
This Circular is issued in exercise of the powers conferred under Section 11 of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR Regulations.
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.