TMI BlogRequirements with respect to the listing of securities on a recognised stock exchangeX X X X Extracts X X X X X X X X Extracts X X X X ..... h bonuses, if any, paid during the last ten years (or such shorter period as the company has been in existence, whether as a private or public company). (ii) dividends or interest in arrears, if any. (f) Certified copies of agreements or other documents relating to arrangements with or between: (i) vendors and/or promoters, (ii) underwriters and sub-underwriters, (iii) brokers and sub-brokers. (g) Certified copies of agreements with (i) managing agents and secretaries and treasurers, (ii) selling agents, (iii) managing directors and technical directors, (iv) general manager, sales manager, manager or secretary. (h) Certified copy of every letter, report, balance sheet, valuation contract, court order or other document, part of which is reproduced or referred to in any prospectus, offer for sale, circular or advertisement offering securities for subscription or sale, during the last five years. (i) A statement containing particulars of the dates of, and parties to all material contracts, agreements (including agreements for technical advice and collaboration) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterest but shall not entitle the holder of the share to participate in respect thereof, in a dividend subsequently declared; (iv) there will be no forfeiture of unclaimed dividends before the claim becomes barred by law; (v) that option or right to call of shares shall not be given to any person except with the sanction of the company in general meeting: Provided that a recognised stock exchange may provisionally admit to dealings the securities of a company which undertakes to amend its articles of association at its next general meeting so as to fulfil the foregoing requirements and agrees to act in the meantime strictly in accordance with the provisions of this clause. [2] [(b) At least 10% of each class or kind of securities issued by a company was offered to the public for subscription through advertisement in newspapers for a period not less than two days and that applications received in pursuance of such offer were allotted subject to the following conditions: (a) minimum 20 lakhs securities (excluding reservations, firm allotment and promoters contribution) was offered to the public; (b) the size of the offer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... simultaneously, (iii) that letters of allotment, acceptance or rights will be serially numbered, printed on good quality paper and, examined and signed by a responsible officer of the company and that whenever possible, they will contain the distinctive numbers of the securities to which they relate, (iv) that letters of allotment and renounceable letters of right will contain a proviso for splitting and that, when so required by the exchange, the form of renunciation will be printed on the back of or attached to the letters of allotment and letters of right, (v) that letters of allotment and letters of right will state how the next payment of interest or dividend on the securities will be calculated; (b) to issue, when so required, receipts for all securities deposited with it whether for registration, sub-division, exchange or for other purposes; [3] [and not to charge any fees for registration of transfers, for sub-division and consolidation of certificates and for sub-division of letters of allotment, renounceable letters of right, and split, consolidation, renewal and transfer receipts into denominations of the market unit of tradi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n writing of all dividends and/or cash bonuses recommended or declared immediately after a meeting of the board of the company has been held to finalise the same; (h) to notify the stock exchange of any material change in the general character or nature of the company's business; (i) to notify the stock exchange of any change (i) in the company's directorate by death, resignation, removal or otherwise, (ii) of managing director, managing agent or secretaries and treasurers, (iii) of auditors appointed to audit the books and accounts of the company; (j) to forward to the stock exchange copies of statutory and annual reports and audited accounts as soon as issued, including directors' report; (k) to forward to the stock exchange as soon as they are issued, copies of all other notices and circulars sent to the shareholders including proceedings of ordinary and extraordinary general meetings of the company and to file with the stock exchange certified copies of resolutions of the company as soon as such resolutions become effective; (l) to notify the stock exchange prior to intimating the shareholders, of any new i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... drawing and the period of the closing of the transfer books (or the date of the striking of the balance) for the drawing, (iii) of the amount of securities outstanding after any drawing has been made; (s) to intimate the stock exchange any other information necessary to enable the shareholders to appraise the position of the company and to avoid the establishment of a false market in the shares of the company; (t) that in the event of the application for listing being granted, such listing shall be subject to the rules and bye-laws of the exchange in force from time to time and that the company will comply within a reasonable time, with such further listing requirements as may be promulgated by the exchange as a general condition for new listings. (4) A fresh application for listing will be necessary in respect of all new issues desired to be dealt in, provided that, where such new securities are identical in all respects with those already listed, admission to dealings will be granted on the company intimating to the stock exchange particulars of such new issues. Explanation . Shares are identical in all respects only if (a) they are of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f a body corporate referred to in this sub-rule with the previous approval of the [18] [Securities and Exchange Board of India] and also subject to such instructions as that [19] [Board] may issue in this behalf from time to time.] (7) The [20] [Securities and Exchange Board of India] may, at its own discretion or on the recommendation of a recognised stock exchange, waive or relax the strict enforcement of any or all of the requirements with respect to listing prescribed by these rules. ------------------------------------- Notes:- [1] Substituted by GSR 581(E), dated 23-12-1996. [2] Substituted by GSR 415(E), dated 7-6-2001, w.e.f. 7-6-2001. [3] Inserted by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [4] Inserted by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [5] Substituted, by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [6] Substituted by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [7] Inserted, by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [8] Inserted, by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [9] Substituted, by GSR 1096, dated 14-7-1967, w.e.f. 22-7-1967. [10] Inserted by GSR 1096, dated 14-7-196 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
