Dear Chartered Accountants, working professionals and students in the domains of Indian auditing, accounting and the tax & regulatory space, welcome to Podcast of FCA Deepak Rao a practicing Chartered Accountant. Hot topic bulletin on SEBI LODR (second amendment) regulations 2023. The SEBI on 14.06.2023 notified the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023. These amendments are in line with the consultation papers that were previously released by SEBI on time to time basis. The amendments are aimed at strengthening corporate governance at listed entities by empowering shareholders, streamlining the disclosure requirements for material events or information and strengthening compliance. The amendment shall come into force from 14th July, 2023 .The major amendment includes a) Introduction of the concept of Non-permanency of the directors on the board b) requirement of filling of vacancy of KMPs within 3 months of vacancy, c) Introduction of threshold-based parameters for identifying the materiality of events/information d) introduction of certain agreements to be disclosed. As in the case of the listed entities, additional functions and responsibilities are assigned to the Compliance Officer/CEO and CFO, therefore, a stricter timeline of 3 months in place of 6 months as specified under the companies act is introduced to ensure the smooth functioning of the company. These reforms signify SEBI’s commitment to promoting transparency, accountability, and investor confidence in India’s capital markets. This Podcast is sponsored by Sound of CA: We share because we care. Vande Mataram Jai Hind