SEBI mandate! If the news regarding the company circulates in the media, confirm or deny it within 12 hours

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image : Wikipedia


The market regulator SEBI has asked the top 100 companies listed in the stock market that if any news or report related to them is circulating in the market, it has to be confirmed or denied before the stock exchange within 12 hours. This order has been issued with the objective of bringing more transparency in the market as well as bringing forward the disclosure of any incident within the time frame.

The rule will apply to 100 companies from October

The Board of Directors of SEBI held a meeting. In which it is stated that this rule will be applicable on the top 100 companies in terms of capitalization in the stock market from October 1, 2023. While this rule will be applicable on top 250 companies from 1 April 2024.

Information has to be presented within 30 minutes

Sebi also said that within 30 minutes of the meeting of the company's board of directors, any discussion or disclosure made in the board meeting has to be brought before the exchange. In fact, whenever there is a report or news about a listed company in the market, it takes one to two days for the company to disclose it, and during this time, the stock fluctuates greatly.

SEBI chairpersons did not comment on the Adani issue

SEBI Chairperson Madhavi Puri Buch declined to comment on the Adani issue, saying the matter is currently in court. SEBI approved several proposals to facilitate market order and company governance. It includes rules to end the practice of people being permanently retained on the board of directors of listed companies and to crack down on fraud by stockbrokers.

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