What continuous disclosure obligations do listed companies have under SEBI LODR Regulations?

Question

My company recently got listed and I want to understand what events and information we are required to disclose to stock exchanges under LODR. I have been reading conflicting things online and I would like to understand what Indian law actually says about this, which Act and Section applies, what the realistic timelines and costs are, and what I should be doing right now to protect my position. If the matter can be resolved without litigation I would prefer that route, but I want to know what my rights are before I agree to anything or sign any document.

MyVakeel Legal Desk · Accepted Answer

What continuous disclosure obligations do listed companies have under SEBI LODR Regulations? is governed in India primarily by SEBI Listing Obligations and Disclosure Requirements Regulations 2015, Regulation 30, SEBI Listing Obligations and Disclosure Requirements Regulations 2015, Regulation 33 and Securities and Exchange Board of India Act 1992, Section 11. The short answer is set out below, followed by the practical steps most people in this situation need to take. Read it alongside the specific provisions named, because the exact relief available to you turns on the facts you can prove on paper.

Regulation 30 of the SEBI LODR Regulations 2015 requires a listed company to disclose material events and information to stock exchanges, distinguishing between events deemed material per se, such as acquisitions and litigation above materiality thresholds, and events requiring an application of the company's materiality policy.

Disclosures under Regulation 30 must generally be made within twenty-four hours of the occurrence of the event, and for certain specified events such as decisions taken in a board meeting, within thirty minutes of the conclusion of that meeting.

Regulation 33 requires listed companies to submit quarterly and annual financial results to stock exchanges within prescribed timelines, along with limited review or audit reports as applicable.

SEBI's powers under Section 11 of the SEBI Act 1992 to protect investor interest and regulate the securities market underpin its authority to issue and enforce the LODR Regulations, including imposing penalties for delayed or inaccurate disclosures.

Non-compliance with disclosure timelines can attract monetary penalties from stock exchanges as prescribed by SEBI circulars, in addition to reputational consequences and potential enforcement action by SEBI.

What to do next: 1) Establish an internal materiality policy and disclosure committee to assess reportable events promptly; 2) Set up an escalation process ensuring board decisions are disclosed within the mandated timelines; 3) File quarterly and annual results within the Regulation 33 deadlines with proper board or audit committee approval; 4) Consult securities law counsel on any ambiguous or borderline disclosure event.

If the other side has already issued a notice, filed a case or set a deadline, treat the matter as time-sensitive — most remedies under SEBI Listing Obligations and Disclosure Requirements Regulations 2015, Regulation 30 carry limitation periods, and a delay you cannot explain weakens an otherwise strong case. You can post the details on the MyVakeel forum for a practising advocate to review, or book a paid consultation with a Bar Council verified lawyer in this practice area.