Top 100 companies will have to give clarification on rumors from October 1: SEBI.
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Top 100 companies will have to give clarification on rumors from October 1: SEBI. market regulator SEBI has directed the top 100 listed companies by market capitalization to confirm, refute or clarify any rumor circulating about them in the market from October 1. The Securities and Exchange Board of India (SEBI) has notified these rules to streamline the disclosure requirements. SEBI said in this notification that after this, this rule will be effective from April 1, 2024 for the top 250 companies.
Top 100 companies will have to give clarification on rumors from October 1: SEBI. As per the notification, “These companies shall confirm, refute or clarify within 24 hours of receipt of information in respect of any information or alleged incident circulating among the investing public through the mainstream media. In order to strengthen corporate governance in listed entities, SEBI has also prepared a framework to address the issue of certain shareholders availing special rights.
Accordingly, any special right granted to the shareholders of a listed entity shall be subject to the approval of the shareholders in general meeting through a special resolution every five years starting from the date of grant of such special right.
Top 100 companies will have to give clarification on rumors from October 1: SEBI.
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