SEBI’s new regulations

The Securities and Exchange Board of India (Sebi) has shortened the period for processing rights issues from the earlier 58 days to 31 days, and has also set a new time limit of 31 days on the disclosure of defaults by listed companies. SEBI has enhanced the investment threshold in schemes offered by portfolio management services (PMS) and raised the net worth requirements for PMS providers. It has also mandated the top 1,000 listed firms to release a Business Responsibility Report (BRR) —this requirement earlier applied only to the top 500 companies.