Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 140

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 140
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 (i.e., equity, non-convertible debt securities, non-convertible redeemable preference shares, Indian DRs and securitized debt instruments and units issued by mutual fund schemes). It lays down provisions for transparency and fair disclosures by all Indian-listed companies. Amendments to the SEBI Listing Regulations have been made from time to time to reinforce compliance and protect the interest of investors.
SEBI amended the SEBI Listing Regulations vide its notifications dated May 17, 2024, May 21, 2024, December 13, 2024 and December 31, 2024. The amendments were mainly aimed at: (a) enhancing and streamlining disclosure requirements for material events/information of a listed entity; and (b) strengthening corporate governance by empowering shareholders and protecting minority shareholders.
The key changes introduced by way of the aforesaid amendments are listed below:
•The listed companies are required to confirm, deny or clarify any market rumor pertaining to a specific upcoming event, which is not of a general nature, and is reported in mainstream media, if it causes a significant movement in the company’s stock price. This verification must be conducted within 24 hours of the material price movement. The share price movement of 3 percent or more (upward or downward) will trigger the disclosure requirement.
•Listed entities are required to give prior intimation of at least two working days (excluding the date of the intimation and date of the meeting) to stock exchanges about the meeting of the board of directors in which financial results are due to be considered and approved. This was previously five working days in advance.
•SEBI has mandated that the Compliance officer shall now be not more than one level below the board of directors and shall be designated as a Key Managerial Personnel (“KMP”). Vide its circular dated April 1, 2025, SEBI clarified that “one level below the board of directors” shall mean one level below the Managing Director or Whole-time Director(s) who are part of the Board of Directors.
•SEBI introduced the Integrated filing (Governance) to facilitate ease of filing and compliance for listed entities. The integrated report, consisting of an investor grievance redressal report and a corporate governance report, is now required to be filed within 30 days from the end of each quarter.
•The integrated filing of financial statements, disclosure of related party transactions and statement of deviation and variation was also introduced by SEBI to be filed within 45 days from the end of each quarter