The Securities and Exchange Board of India (SEBI) has extended the deadline for listed companies to confirm or deny market rumours to February 1, 2024 as part of mandatory disclosure requirements. The deadline has been extended for the top 100 listed companies by market capitalisation to February 1, 2024, from October 1 this year at present, according to the latest circular by the Sebi.
According to SEBI, for the top 250 listed entities, the rule will kick in on August 1, 2024, from the current requirement of April 1, 2024. The rule is aimed at strengthening the corporate governance of listed entities. There were many instances in the past where manipulators floated rumours in the market to rig share prices.
Register to continue reading this story
Google
Facebook
Email
Already have an account? Sign in