SEBI Top 100 Companies: Trading in the domestic stock market is going to be more transparent now. Along with this, new provisions (SEBI New Norms) have also been made to protect the interests of the investors.
Market regulator SEBI has tightened the rules regarding listed companies in the stock market. SEBI Chairperson Madhabi Puri Buch gave this information after the latest meeting of the board.
SEBI made this big change
He said that the market regulator has made some changes in the rules regarding the information related to the companies listed in the stock market. This step of SEBI is to ensure more transparency. SEBI has told big companies that now they will have to either deny or confirm all such news and rumors going on in the market, which can affect the prices of shares. This will not only bring transparency in the market, but will also ensure timely disclosure of important information.
Will have to disclose in 30 minutes
SEBI issued a press release on Wednesday after the board meeting informing about the changes. According to SEBI, the 100 largest companies in terms of market capitalization will have to follow the new rules from 01 October 2023. On the other hand, top-250 companies have been given time till 01 April 2024 for this.
Along with this, SEBI has also made provision regarding material information. SEBI says that companies will have to disclose material information within 30 minutes after the meeting of the board of directors. Although SEBI has not yet told what is material information according to it. The regulator said that it will soon give information about the benchmarks in this regard.
No comment from sebi on adani
During this, the SEBI chairperson also gave responses on many other issues. When asked about the controversies related to Adani, he declined to comment. The SEBI chairperson said that it is not right to comment on any one entity, especially when the matter is sub-judice. He said that the issues and controversies related to Adani group are being investigated. SEBI will submit the investigation report to the Supreme Court.
These posts will have to be filled in 03 months
SEBI also made changes regarding the appointment of directors of the company. At present there are posts of permanent directors in the board, but now their provision has been removed. SEBI says that every person included in the board of directors of any listed company will need the approval of the shareholders from time to time. The companies will have to fill the posts like Director, Compliance Officer, Chief Executive Officer and Chief Financial Officer within 03 months from the date of vacancy.
