According to the information provided by SEBI, the companies will have to confirm, deny or clarify any reported event or information in the mainstream media, within 24 hours from the reporting of the information.Thus what is the extended deadline for listed companies to confirm or deny market rumors?
The Securities and Exchange Board of India (SEBI) has extended the deadline for listed companies to confirm or deny market rumors to February 1, 2024 as part of mandatory disclosure requirements. The deadline has been extended for the top 100 listed companies by market capitalization to February 1, 2024, from October 1 this year at present. These companies will have to confirm, deny or clarify any reported event or information in the mainstream media, which is not general in nature and which indicates that rumors of an impending specific material event are circulating amongst the investing public within 24 hours from the reporting of the information.
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