With the introduction of a new set of rules, the disclosure process to SEBI has also been improved, as more and more companies are under the strict supervision of the regulatory mechanism and therefore the process of companies` compliance with securities and exchange board of India (SEBI) regulations has improved. With the introduction of registration regulations, contractual obligations have been converted into a legal requirement that gives regulations legal recognition. On 2 September 2015, the Security and Exchange Board of India (SEBI) provided information on the Security and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Listed companies are subject to listing regulations.