Photo of Gaurav Gupte

Partner in the Capital Markets Practice at the Mumbai Office of Cyril Amarchand Mangaldas. Gaurav focuses on public offerings of securities, including, initial and follow-on public offers, rights issues, institutional placements, bond and depository receipt offerings. Gaurav is also a part of the Firm’s restructuring and insolvency practice group and has extensive experience in buybacks of bonds. He can be reached at gaurav.gupte@cyrilshroff.com

The Securities Exchange Board of India (SEBI) has, over the years, undertaken initiatives to align reporting and disclosure requirements for listed companies in India with global standards, including alignment with the principles prescribed by the International Organization of Securities Commissions. On February 6, 2017, SEBI issued a circular on Integrated Reporting by Listed Entities (SEBI Circular) to strengthen disclosure standards of listed Indian companies.

What is Integrated Reporting?

Integrated reporting is a principle-based reporting framework that was developed by the IIRC. Companies in various countries globally including Japan, the United Kingdom and Australia have adopted integrated reporting.

The primary purpose of an Integrated Report is to provide stakeholders with details in relation to the following: (i) functioning of an organisation; (ii) the value created by an organisation over time; and (iii) various external factors that affect the organisation. The Framework sets out certain fundamental concepts and guiding principles that should be considered while preparing an Integrated Report.

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