Listed companies will have to comply with stiffer disclosure requirements from Saturday.

The Securities and Exchange Board of India has released a circular on certain amendments in the Listing Obligations and Disclosure Requirements Regulations, 2015 or LODR norms.

These changes were cleared by the Sebi board on March 29, which was notified subsequently.

Under the new rules, companies will have disclose all events or information which are material in nature within 24 hours from the occurrence of the event or information.

If the event or information is the outcome of a board meeting, the announcement must be made within 30 minutes of the end of the meeting.

If the event or information is an outcome of activities within the listed entity, the announcement must be made within 12 hours.

If the event or information is an outcome of activities outside the listed entity, the announcement must be made within 24 hours.

Some of such material events include, acquisitions (including agreements to acquire), scheme of arrangement such as amalgamation, merger, demerger or restructuring apart from sale or disposal of any unit, division, or subsidiary of the listed entity.

It also includes the sale of stake in the associate company of the listed firm or any other restructuring.

Sebi has asked companies to disclose agreements entered by shareholders, promoters, related parties, directors, key managerial personnel, and employees of the listed entity or of its subsidiary, which can impact the management and control of such firms.

Such 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.

The deadline has also been fixed at 24 hours from the occurrence of the event in case the information is not emanating from within the listed entity.