To this effect, Sebi has introduced 13 new proposals to broaden the scope of the UPSI definition to include certain material events specified under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations").
These include, among others, revisions of credit ratings, proposed fund-raising activities to be discussed at Board meetings, agreements impacting the management and control of the company, initiation of forensic audits, outcomes of certain litigations, and the award or termination of significant contracts or orders not in the ordinary course of business.
Some additions are well-founded, as such events significantly influence investor decisions and market movements. However, certain inclusions may dilute the framework's purpose by covering routine operational matters or classifying less material disputes as UPSI.
The relationship between material events and UPSI has evolved over time. Initially, the definition of UPSI under the PIT Regulations included within its scope information related to all material events as per the listing agreement. However, an amendment to the PIT Regulations in April 2019 removed the direct link to materiality.
Despite this, instances of failing to categorize information apart from those explicitly specified under the PIT Regulations continued to persist. To address this issue, Sebi released a consultation paper on May 18, 2023, proposing to align the definition of UPSI with material events under Regulation 30 of the LODR to improve clarity and ensure consistent compliance.
In its latest consultation paper, Sebi aims to address concerns raised in public feedback regarding the proposal to include material events under Regulation 30 of the LODR Regulations within the definition of UPSI.
Diese Geschichte stammt aus der December 16, 2024-Ausgabe von Financial Express Pune.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 16, 2024-Ausgabe von Financial Express Pune.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
More Indians looking to fly biz class this holiday season
The number of Indians eyeing to fly business class has seen a sharp uptick this holiday season compared to last year. While the trend is more pronounced in international travel, travel agents and online platforms suggest that it is also emerging on many domestic routes.
Markets slump over 1%
● Investors' wealth down ₹4.92 lakh cr
EPFO weighs higher equity investments
● Labour ministry panel to look at ways to raise exposure
Indian firms turn to euro, yen swaps to trim borrowing cost
INDIAN FIRMS ARE opting for cross-currency swaps to convert part of their debt into the euro or the Japanese yen in order to trim borrowing costs, said bankers.
IIT-Madras to offer fine arts, culture courses
A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
Not even 2% work-linked higher education courses yet: Report
EDUCATION-INDUSTRY MISMATCH
The world's busiest airline routes in 2024 are largely in Asia
● Leisure continues to outshine corporate trips
Panel suggests LS elections template for entrance tests
DRAWING PARALLELS WITH the conduct of general elections, a high-level committee set up by the Education ministry and chaired by former ISRO chief K Radhakrishnan has proposed a similar framework for holding important national entrance tests to ensure transparency.
Siddique murder: Court sends accused to police custody till Dec 20
A SPECIAL COURT in Mumbai on Tuesday remanded five accused arrested in NCP leader Baba Siddique's murder case to police custody till December 20 after investigators said they need to interrogate them about an absconding accused and the weapons used in the crime.
DPIIT inks pact with HDFC Bank
THE DEPARTMENT FOR Promotion of Industry and Internal Trade (DPIIT) on Tuesday said it has inked pacts with HDFC Bank and Tally Solutions to help startups growth.
