The Securities and Exchange Board of India (“SEBI”) has, in a recent circular, further extended the timeline for listed companies to mandatorily verify, confirm, deny or clarify market rumours. Now, the Top 100 listed entities (by market capitalization) will be required to comply by 1st June, 2024 as against the earlier timeline of 1st February, 2024 and the Top 250 listed entities ( by market capitalization) by 1st December, 2024 as against 1st August, 2024.
This extension has been granted since the industry standards are under finalization and certain amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are required for implementation of verification of market rumours by listed entities [Regulation 30(11)].
Source : Securities and Exchange Board of India
