Sebi simplifies disclosures for listed companies through integrated filing

Aims to ease compliance and simplify disclosure requirements by integrating periodic filings under governance and financial categories

The Securities and Exchange Board of India (Sebi) has made integrated filing for Listing Obligations and Disclosure Requirements (LODR) effective for all disclosures starting with the quarter ending December 2024.

 

The measures aim to ease compliance and simplify disclosure requirements by integrating periodic filings under two broad categories: governance and financial.

 

Last month, Sebi issued a notification introducing changes to the LODR framework. A circular detailing the formats for integrated filing was released on Tuesday.

 

Governance-related disclosures such as corporate governance reports and investor grievance redress updates will have to be filed within 30 days of the quarter's end. Financial disclosures, including related party transactions, outstanding loan defaults, and quarterly financial results, must be submitted within 45 days of the quarter's end. For financial year-end disclosures, a 60-day window has been provided.

 

The regulator has also relaxed the frequency of certain updates and disclosures.

 

 “The first quarterly integrated filing — i.e., Integrated Filing (Governance) and Integrated Filing (Financial) — for the quarter ending December 31, 2024, may be filed within 45 days from the quarter's end,” said Sebi in Tuesday’s circular.

 

The regulator also directed companies to include ratification details of related party transactions (RPTs) with their half-yearly RPT disclosures in a specified format.

 

These changes were first recommended by an expert committee tasked with easing the requirements under the LODR framework. The committee noted that integrated filing would reduce the number of filings, minimise duplication, and enhance information accessibility for investors.