An entity that takes the public route for funding has to be ready to make such disclosures in the true spirit of corporate governance. The Securities and Exchange Board of India (Sebi) has rightly spelt this out in the principle-based Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015. If a listed entity is in doubt on whether some regulation is applicable, they just need to apply the principles. The principles require making timely and adequate disclosures that are accurate, explicit and easy to understand for the layman. While this framework is already present, Sebi has brought in some changes to elevate listed entities to better governance practices by requiring more granular disclosures.
Sebi had released consultation papers aimed at greater transparency and better corporate governance in November 2022 and in February. Sebi's board met on 29 March and approved most of the proposals, and on 14 June, these have been given the shape of the amendments to the listing regulations.
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