Sebi has initiated work on revising the Listing Obligations and Disclosure Requirements (LODR), marking what could become one of the most significant overhauls of corporate disclosure norms in recent years, chairperson Tuhin Kanta Pandey said at the CII Financing Summit 2025. He noted that the reform is still in its early stages and that a consultation paper will be released “soon,” though no timeline has been set.
Pandey emphasized that the goal is not to add more regulations but to create a “smarter rulebook” — one that is simpler, risk-appropriate, and conducive to innovation. The broader effort aims to streamline Sebi’s regulatory framework by removing duplication, clarifying grey areas, and phasing out outdated rules.
He also revealed that Sebi will soon issue a consultation paper on revising settlement regulations. Reviews of stockbroker and mutual fund rules are already well advanced, with each reform stage open to public feedback.
Additionally, Sebi is preparing to introduce a closing-auction mechanism in equity markets. Pandey said the framework is nearly ready after stakeholder consultations. The auction is expected to enhance end-of-day price discovery and reduce volatility, bringing Indian markets closer to global standards.
