Business responsibility reports must for top 500 listed cos: Sebi

Mumbai: Top 500 listed companies will now be required to prepare annual business responsibility reports, covering their activities related to environment, stakeholder relationships, governance and other areas, according to Sebi.

At present, top 100 listed firms are required to prepare their annual business responsibility reports.

The move by the regulator is part of larger efforts to improve corporate governance practices and more transparency in terms of reporting of various socially-responsible activities carried out by listed entities.

In its meeting today, Sebi board decided to make it applicable for top 500 listed companies, based on their market capitalisation at the end of March every year, to submit business responsibility reports.

In August 2012, Sebi made business responsibility reporting requirement compulsory for top 100 listed entities based on market capitalisation in their annual reports.

The key principles which are required to be reported by the entities include the areas such as environment, social, governance and stakeholder's relationships.

"As a green initiative, the business responsibility reports can be given on the websites of the companies providing website link for the same in their annual reports," Sebi said in a release.