Clause 40A Of Listing Agreement

Last week, SEBI released a discussion paper entitled Alternate Capital Raising Platform and Review of Other Regulatory Requirements, which aims to allow start-ups to place their securities on a trading platform without meeting the hefty and highly rated requirements that might apply during the normal course. This is an explicit recognition of the necessity,… Earlier this month, SEBI published changes to the Equity Listing Agreement. The changes were discussed in the sebi Updates Updates blog. A number of procedural changes have been made, including reporting requirements for publicly traded companies` participation models and announcements of significant corporate events. More importantly, clause 40A of the listing agreement has been amended to… [The following contribution is made by Supreme Waskar, who is an in-house lawyer] In an order earlier this month, a SEBI warrant officer fined two aces. The New Delhi Television Ltd. (“NDTV”) for failing to immediately disclose essential information to the stock exchanges under clause 36 of the listing agreement. Facts of the case On February 21, 2014, NDTV had… The company accepts that this is also the condition of the continuation of the listing. In most legal systems, different aspects of corporate governance and advertising for listed companies are regulated by listing requirements.

These apply only to publicly traded companies and are taxed by the stock exchanges. As conditions of continuous listing, one of the enforcement mechanisms is used, is the threat (sometimes realized) of decotation of securities … In its report of 18 January 1997, the Commission for the Substantial Acquisition of Shares and Acquisitions under the Bhagwati Justice Commission recommended that clauses 40A and B of the listing agreement be replaced by a clause requiring compliance with the SEBI (Substantial Acquisition of Shares – Takeover) Regulation 1997, notified on 20 February 1997. To do so, the 40A-B clauses of the Listing Agreement of the exchanges must be amended accordingly. It is therefore recommended that the following changes to the rating agreement be made. A company agrees that a condition for the continuation of the listing is that if the tender offer is filed or if control of the management of the company changes, the person who controls the management of the company and the company whose shares were acquired are in accordance with the relevant provisions of the 1997 SEBI (Substantial Of Shares and Take-Over) regulation. Securities and Exchange Board of INDIA SECONDARY MARKET DEPARTMENT Mittal Court, A Wing, Gr. Floor, 224, Nariman Point, Mumbai 400 021 Presidents/managers/managers/managers Note: It appears that you have disabled Javascript in your browser. To give a comment on this article, please write this code with your comment: 2efda1f8bf68a7c1a47b8a1363e56f As we have constantly focused on this blog (here, here and here), public sector companies (PSEs) in India, which are essentially government-owned, often use special relaxations and regimes on the applicability of securities laws and corporate governance standards, which, on the other hand, apply as a whole to their private counterparties.

Even where the shares… Recently, the Securities Appellate Tribunal (SAT) dealt with two separate situations involving the disclosure of pawn rights or other charges on the shares. In a decision reviewed today, the SAT found that the acquisition of shares by a public financial institution through the call for collateral, in accordance with the provisions of the acquisition of SEBI…