The regulator had ordered the top 100 listed entities by market capitalisation and thereafter the top 250 listed entities to mandatorily verify and confirm, deny or clarify market rumours.
The rumour verification process would now be triggered by changes in price or material price movements , as the paper defines it.
What this means is that companies would need to verify rumours only if the share price moves significantly.
To streamline the disclosure requirements, Sebi has notified rules asking the top 100 listed companies by market capitalisation to confirm, deny or clarify any market rumour reported in the mainstream media from October 1.
Days after media reports claimed that Gautam Adani-led Adani Group has hired Grant Thornton for an independent audit of some of its companies, Adani Enterprises has issued a clarification to the exchanges refuting the same.