SEBI Proposes Sweeping Overhaul of Disclosure and Compliance Norms for Listed Firms

SEBI has proposed significant changes to disclosure and compliance norms for listed firms, including extended timelines for litigation disclosures and permanent virtual shareholder meetings. These recommendations, based on an expert committee's report, aim to ease business practices and reduce compliance burdens while ensuring investor protection.

The Securities and Exchange Board of India (SEBI) on Thursday unveiled a set of comprehensive proposals aimed at revamping disclosure and compliance practices for listed firms. Among the key changes are extended timelines for disclosing litigations or claims and the permanent adoption of virtual or hybrid shareholder meetings.

The proposals came from an expert committee chaired by former SEBI Whole-Time Member SK Mohanty and are designed to streamline business operations while balancing the need for investor protection.

SEBI has opened these recommendations for public comment until July 17, emphasizing the importance of feedback for finalizing these sweeping reforms.