Transparency And Disclosure Norms Under The Companies Act, 2013: A Critical Analysis In Contemporary Corporate Jurisprudence

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Dr. Subhashini A, Assistant Professor in Government Law College, Theni

ABSTRACT

Transparency and disclosure constitute the foundation of effective corporate governance and play a crucial role in safeguarding investor confidence in modern capital markets. In India, regulatory efforts to ensure corporate accountability have significantly evolved, particularly through the framework established by the Securities and Exchange Board of India. One of the most significant regulatory instruments introduced to strengthen corporate governance standards is the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which prescribes comprehensive disclosure norms for listed companies. These regulations aim to promote transparency, ensure timely dissemination of material information and protect the interests of investors and other stakeholders. This research paper examines the role of transparency and disclosure requirements under the SEBI LODR Regulations, 2015 in enhancing corporate governance in India. The study analyses the legal framework governing disclosure obligations, including periodic financial reporting, disclosure of material events and corporate governance compliance requirements imposed on listed entities. The paper further evaluates the role of regulatory supervision and judicial intervention in enforcing disclosure norms and maintaining market integrity. In addition, it explores the practical challenges associated with the implementation of these regulations, such as corporate non-compliance, information asymmetry, insider trading concerns and regulatory enforcement limitations. Through a doctrinal and analytical research methodology, the study highlights how effective disclosure mechanisms contribute to transparency, accountability and responsible corporate management. The policy reforms and regulatory improvements that can strengthen disclosure practices and enhance investor protection within India’s evolving corporate governance landscape.

Keywords: Corporate Governance; Transparency; Disclosure Regulations; SEBI LODR Regulations; Investor Protection

78. TRANSPARENCY AND DISCLOSURE NORMS UNDER THE COMPANIES ACT, 2013- A CRITICAL ANALYSIS I

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