SEBI extends deadline for listed companies to refute or confirm rumor – Dainik Savera Times

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New Delhi: The Securities and Exchange Board of India (SEBI) has extended the deadline for listed companies to mandatorily confirm or deny market rumours. According to the latest circular of SEBI, this deadline has been extended to February 1, 2024 for the top 100 listed companies in terms of market capitalization.

Earlier this deadline was October 1, 2023. Similarly, for the top 250 companies in terms of market capitalization, this deadline will now be applicable from August 1, 2024. Earlier it was to be implemented from April 1, 2024. The objective of this rule is to strengthen the functioning of listed entities.

SEBI said, “The implementation of Listing Obligations and Disclosure Requirements (LODR) rules for the top 100 listed companies in terms of market capitalization will now be implemented from February 1, 2024. This rule will be applicable for the top 250 companies in terms of market capitalization from August 1, 2024.

Earlier in June, SEBI had notified rules asking these listed companies, based on market capitalisation, to refute or confirm market rumors in the mainstream media. As per the disclosure requirements, these companies had to deny or confirm through the mainstream media within 24 hours any information circulating among the investor community.

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