Current context: The Securities and Exchange Board of India, SEBI, has approved stricter disclosure norms for listed companies.
- SEBI Chairman Ajay Tyagi announced the changes focuses on the need to build trust among whistle-blowers after a whistle-blower approached the US watchdog, Securities and Exchange Commission with a complaint against IT major Infosys instead of SEBI
- The SEBI has proposed following rules for the listed companies:
- The listed companies will have to disclose the default’s fact within 24 hours, in case of default in repayment of loans beyond 30 days
- Portfolio Managers (PM) Regulations, 2019 have been amended following which net worth requirement of portfolio managers has been enhanced from 2 crore to 5 crore rupees
- Reduction in the overall time taken for a rights issue from 55 days to 31 days.
- Extended the Business Responsibility Report requirement to top 1,000 companies, from 500 currently.
Question:
Q: 1. As per the SEBI’s latest disclosure norms for listed companies, in case of default in repayment of loans beyond 30 days, the listed companies will have to disclose the default’s fact within _______
a. 12 hours
b. 24 hours
c. 48 hours
d. 72 hours
a. 12 hours
b. 24 hours
c. 48 hours
d. 72 hours
