Disclosures do not bind listed firms or create liabilities, Sebi tells HC

The Securities and Exchange Board of India (Sebi) has submitted to the Bombay High Court that disclosures by listed companies do not bind them or create liabilities, in response to petitions pertaining to the Kirloskar group firms.

- BS REPORTER

The market regulator stated that “mere disclosure of any agreement by a listed entity shall not itself mean that the company admits such agreement as binding itself or as having an impact on its management or control, or imposing any restriction”.