SEBI has notified the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 on June 14, 2023. Briefly explain amendments made on disclosure of material events in terms of value, info

Answer 5(d) Disclosure of events or information: In case of a listed entity, disclosure of material events is mandatory where the omission of an event or information, whose value or the expected impact in terms of value, exceeds the lower of the following: 2% of turnover, as per the last audited consolidated financial statements of the listed entity; 2% of net worth, as per the last audited consolidated financial statements of the listed entity, except in case the arithmetic value of the net worth is negative; 5% percent of the average of absolute value of profit or loss after tax, as per the last three audited consolidated financial statements of the listed entity. [Regulation 30(4)(i)(c)] In case where the criteria specified is not applicable, an event or information may be treated as being material if in the opinion of the board of directors of the listed entity, the event or information is considered material. [Insertion: Regulation 30(4)(i)(d)] The listed entity shall first disclose to the stock exchange all events or information which are material in terms of the provisions of this regulation as soon as reasonably possible and in any case not later than the following: 30 minutes from the closure of the meeting of the board of directors in which the decision pertaining to the event or information has been taken; 12 hours from the occurrence of the event or information, in case the event or information is emanating from within the listed entity; 24 hours from the occurrence of the event or information, in case the event or information is not emanating from within the listed entity. However, the disclosure with respect to events for which timelines have been specified in Part A of Schedule III shall be made within such timelines, Further, in case the disclosure is made after the timelines specified under this regulation, the listed entity shall, along with such disclosure provide the explanation for the delay.