SEBI extends date for verification of market rumours by top 100 listed firms to Feb 1, 2024

Markets regulator SEBI has extended the timeline for verification of market rumours by listed entities.

The proviso to Regulation 30 (11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations) inter-alia requires top 100 listed entities by market capitalisation with effect from October 1, 2023 and top 250 listed entities by market capitalisation with effect from April 1, 2024 to mandatorily verify and confirm, deny or clarify market rumours.

It has been decided to extend the effective date of implementation of the proviso to regulation 30(11) of the LODR Regulations for top 100 listed entities by market capitalization, to February 1, 2024 and for top 250 listed entities by market capitalization, 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, SEBI said.