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Question

SEBI has come out with a “stricter timeline” for disclosure of material events or information by listed companies and introduced criteria for determining the materiality of events.According to the new disclosure timeline by SEBI, how soon should listed companies disclose family settlement agreements if they are a party to it?

A Within 6 hours Correct Answer Incorrect Answer
B Within 12 hours Correct Answer Incorrect Answer
C Within 24 hours Correct Answer Incorrect Answer
D Within 48 hours Correct Answer Incorrect Answer
E Within 72 hours Correct Answer Incorrect Answer

Solution

SEBI has come out with a “stricter timeline” for disclosure of material events or information by listed companies and introduced criteria for determining the materiality of events. Under the framework, the regulator asked listed companies to disclose family settlement agreements, which can impact the management and control of such firms to stock exchanges. These agreements need to be disclosed within 12 hours in case a listed entity is a party and within 24 hours where the listed entity is not a party.

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