Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, Dated: 30.01.2026
The Securities and Exchange Board of India (SEBI) has notified a Master Circular consolidating all operative circulars issued under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as updated up to December 30, 2025. The Master Circular serves as a single reference point for disclosure and compliance requirements applicable to listed entities and market infrastructure institutions.
1. Consolidation of Disclosure and Compliance Framework
The Master Circular brings together various circulars governing periodic, event-based, and annual disclosures, thereby streamlining the compliance framework under the LODR Regulations. By consolidating existing instructions, SEBI aims to improve regulatory clarity and ease of reference for stakeholders.
2. Coverage of Financial Reporting and Governance Requirements
The circular comprehensively covers requirements relating to financial statements and reporting, related party transactions, and corporate governance norms, including board composition, committee requirements, and oversight mechanisms prescribed for listed entities.
3. Business Responsibility and Sustainability Reporting (BRSR)
The Master Circular also consolidates provisions relating to Business Responsibility and Sustainability Reporting (BRSR), reinforcing SEBI’s focus on transparency, ESG disclosures, and responsible business conduct by listed companies.
4. Applicability to Market Participants
The consolidated instructions are applicable to listed entities, stock exchanges, depositories, and other specified stakeholders, ensuring uniform compliance across the securities market ecosystem.
5. Compliance Implications
Listed entities and other concerned participants should review and align their compliance processes with the consolidated Master Circular to ensure adherence to the updated disclosure and governance requirements under the LODR Regulations.
Click Here To Read The Full Circular
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