On December 20, 2024, Securities Exchange Board of India (“SEBI”), in exercise of powers conferred under Section 11(1) and Section 11A of the Securities Exchange Board of India Act,1992 read with Regulation 101 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), issued a circular, vide Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2024/177[1] dated December 20, 2024, regarding the reporting requirements under BRSR core. The circular aims to streamline and facilitate ease of doing business by the formulation of industry standards ensuring compliance with SEBI requirements on disclosures of the Business Report and Sustainable Report (“BRSR”) core under Regulation 34(2)(f) of the LODR Regulations read with Chapter IV-B of the SEBI master circular dated November 11, 2024 (“Industry Standards”). The said Industry Standards are formulated by the Industry Standards Forum (“ISF”) which comprises of three representatives from three industry associations, namely, ASSOCHAM, FICCI and CCI.
It is to be noted that the said Circular will be applicable for the financial year 2024-25. SEBI directs the Industry Standards to be published on the ISF and stock exchanges’ websites and strictly complied with by the listed entities. Further, the stock exchanges are advised to communicate the contents of this circular to their listed entities and ensure their compliance with its provisions.
[1]https://www.sebi.gov.in/legal/circulars/dec-2024/industry-standards-on-reporting-of-brsr-core_90091.html
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