What are the Regulation 30 disclosure timelines?
How Regulation 30 of SEBI LODR classifies deemed and materiality-based events, the 30-minute, 12-hour and 24-hour disclosure windows, the 2% turnover or net worth materiality test, and the rumour-verification duty for top-ranked listed entities.
In this guide
Regulation 30 of SEBI LODR requires a listed entity to disclose material events to the stock exchanges within fixed windows: 30 minutes for a decision taken in a board meeting, 12 hours for an event that originates within the company, and 24 hours for one that originates outside it. Deemed material events in Schedule III Part A are disclosed without any threshold; Part B events are disclosed only if they cross the materiality test, set at 2% of turnover or net worth on the last audited consolidated financials.
What is Regulation 30 of SEBI LODR?
Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 requires a listed entity to disclose material events and information to the stock exchanges so investors get the news at the same time. It is the disclosure backbone of the LODR and the only LODR regulation with its own dedicated schedule, Schedule III, that lists every disclosure type.
The regulation applies to all listed entities and their material subsidiaries. Each listed entity must maintain a board-approved materiality policy, disclosed publicly, that sets how it judges whether an event is material.
What is a deemed vs materiality-based event?
A deemed material event is one that must be disclosed with no threshold applied. Schedule III, Part A lists them: a board-approved acquisition, scheme of arrangement, buyback, or fundraising; a revision in credit rating; resignation of the auditor or an independent director; a fraud or default; corporate insolvency proceedings; and a cybersecurity breach, among others.
A materiality-based event is one in Schedule III, Part B that is disclosed only if it crosses the materiality test in the company's policy. Examples are bagging or losing a significant order, a change in the nature of the business, or a change in accounting policy with material impact. Part A always speaks; Part B speaks only when it is material.
What are the disclosure timelines?
Regulation 30(6), as amended, sets the windows by where the event comes from, not by how big it is. The clock starts when the event occurs or the decision is taken, not when the company gets around to it.
| Event | Window |
|---|---|
| Decision taken in a board meeting | 30 minutes of the meeting closing |
| Board meeting ends after trading hours, over 3 hours before next session | 3 hours |
| Event originating within the company | 12 hours |
| Event originating outside the company | 24 hours |
| Certain litigation or claims held in the SDD | 72 hours |
| Rumour verification, top 100 or 250 entities | 24 hours of the material price movement |
The 30-minute window is one of the shortest reporting timelines in Indian regulation, which is why listed companies build board-meeting workflows around it and pre-clear the disclosure format before the meeting.
How is the 2% materiality test applied?
For a Part B event, materiality turns on a quantitative test. An event is material if its value, or its expected impact in value terms, exceeds the lower of 2% of turnover or 2% of net worth, taken from the last audited consolidated financial statements. Where the arithmetic net worth is negative, the net worth limb is set aside.
This 2% test came in with the SEBI (LODR) Third Amendment 2024 to make materiality objective rather than a matter of board judgment alone. The materiality policy still governs qualitative calls, but a Part B event over the 2% line is disclosed regardless of how the board would otherwise weigh it.
Who must verify market rumours?
The largest listed entities carry a rumour-verification duty. A company in the top 100 by market capitalisation has had to verify material market rumours since 1 June 2024, and the top 250 since 1 December 2024. When a rumour in the mainstream media is tied to a significant movement in the price, the entity must confirm, deny, or clarify it within 24 hours.
The duty came in with the SEBI (LODR) Third Amendment 2024. It sits alongside the event-based windows, so a company can face both the rumour-verification clock and the ordinary Regulation 30 timeline on the same underlying development.
How does a company stay compliant?
- Keep a board-approved materiality policy, disclosed publicly, that states the 2% turnover and net worth test.
- Monitor events across subsidiaries, associates, promoters, and key management, not only the parent.
- Classify each event as Part A (deemed) or Part B (threshold) before deciding whether to disclose.
- Build board-meeting workflows that accommodate the 30-minute, or after-hours 3-hour, disclosure window.
- For a top 100 or 250 entity, run a rumour-verification process tied to price movement, answerable within 24 hours.
Where do Regulation 30 disclosures fail?
- Missing the 30-minute board-meeting window because the disclosure format was not pre-cleared.
- Applying board judgment to a Part B event that already crosses the 2% line.
- Treating a Part A deemed event as if it needed a materiality test.
- Ignoring an event in a material subsidiary that is material for the listed parent.
- Overlooking the rumour-verification duty after entering the top 100 or 250 by market capitalisation.
Where are Regulation 30 changes published?
Regulation 30 changes come as SEBI LODR amendment regulations and as SEBI circulars and the LODR master circular, with the current shape set by the Second Amendment 2023 and the Third Amendment 2024. For the wider listed- company duty set, read our SEBI LODR updates guide. Complied AI keeps SEBI updates in one feed so you can open the amendment notification behind a disclosure change instead of relying on last year's summary.
Practical checks
Common questions
How fast must a board decision be disclosed under Regulation 30?
Within 30 minutes of the close of the board meeting in which the decision was taken, under Regulation 30(6) read with Schedule III. If the meeting ends after trading hours and more than three hours before the next trading session, a three-hour window applies. These timelines came in with the SEBI (LODR) Second Amendment 2023 and Third Amendment 2024.
What is the 12-hour and 24-hour rule in Regulation 30?
An event that originates within the listed entity must be disclosed within 12 hours, and an event that originates from outside the entity within 24 hours. These are distinct from the 30-minute window, which applies only to a decision taken in a board meeting. All three run under Regulation 30(6).
What is the materiality threshold under Regulation 30?
For Part B events, an event is material if its value or expected impact exceeds the lower of 2% of turnover or 2% of net worth, on the last audited consolidated financial statements, with the net worth test set aside where net worth is negative. This quantitative test came in with the 2024 amendment, replacing purely subjective judgment.
What is the difference between Schedule III Part A and Part B?
Part A lists deemed material events, disclosed without applying any materiality test: things like a board-approved acquisition, a rating revision, resignation of an auditor or independent director, or a fraud or default. Part B lists events disclosed only if they cross the materiality threshold under the company's materiality policy, such as bagging or losing a significant order.
Do listed companies have to verify market rumours?
Yes, the top-ranked entities do. A listed entity in the top 100 by market capitalisation (from 1 June 2024) and the top 250 (from 1 December 2024) must verify a market rumour tied to a significant price movement and confirm, deny, or clarify it within 24 hours. The obligation came in with the SEBI (LODR) Third Amendment 2024.
Does Regulation 30 apply to subsidiaries?
Yes. An event under Part A or Part B that occurs in a subsidiary, and is material for the listed holding company, must be disclosed, especially for a material subsidiary. So a listed entity has to monitor events across its subsidiaries, associates, promoters, and key management, not only at the parent.
How long do I get for litigation-related disclosures held in the SDD?
Certain litigation or claims maintained in the structured digital database can be disclosed within 72 hours, under the SEBI (LODR) Third Amendment 2024. This is a specific carve-out; the general windows of 30 minutes, 12 hours, and 24 hours still govern the events they cover.
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How this guide was prepared
This guide is published by the Complied AI research desk. Its source list and stated position were checked against the official records shown below on 14 September 2026.
Automation, including AI, may assist research, drafting and structure. It does not replace the official record or amount to an independent professional review. Read our editorial standards and corrections policy.
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