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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024

17-May-2024 | No. SEBI/LAD-NRO/GN/2024/177

Securities and Exchange Board of India has issued Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024 further to amend the SEBI (LODR) Regulation,2015.

Key highlights of amendment: -

1. In Regulation 15(1A) - Obligations of Listed Entity which has Listed its Specified Securities - In the second proviso and in Explanation (3) ''the Comply or explain for the purpose of the second proviso to sub-regulation (1A) of regulation 15 shall mean that the high value debt listed entity shall endeavour to comply with the provisions and achieve full compliance by by March 31, 2025.''

2. In regulation 21(3C) after the amendment the meetings of the risk management committee shall be conducted in such a manner that on a continuous basis not more than two hundered ten days shall elapse between any two consecutive meeting instead of one hundred eighty days.

3. In regulation 21(5)(i), the words and symbols determined on the basis of market capitalization as at the end of the immediate preceding financial year' shall be omitted.

3. In regulation 25(10) - Obligations with respect to independent directors - The top 1000 listed entities by market capitalization shall undertake Directors and Officers insurance (D and O insurance) for all their independent directors of such quantum and for such risks as may be determined by its board of directors.

4. Regulation 30 (11A) is inserted specifying that the promoter, director, key managerial personnel or senior management of a listed entity shall provide adequate, accurate and timely response to queries raised or explanation sought by listed entity.

Amendments in Regulations 3, 17, 21(5), 25, 30 [omission of the Explanation under sub regulation (11)], 34, 43A and 44 shall come into force with effect from December 31, 2024.

For detailed information, please refer to the attached document.

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