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 ..... e 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), concessions and similar other documents (except those entered into in the ordinary course of business carried on or in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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) 3 [The minimum offer and allotment to public in terms of an offer document shall be-] (i) at least twenty five per cent of each class or kind of equity shares or debenture convertible into equity shares issued by the company, if the post issue capital of the company calculated at offer price is less than or equal to one thousand six hundred crore rupees; (ii) at least such percentage of each class or kind of equity shares or debentures convertible into equity shares issued by the company equivalent to the value of four hundred crore rupees, if the post issue capital of the company calculated at offer price is more than one thousand six hundred crore rupees but less than o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c) 5 [***] (3) A company applying for listing shall, as a condition precedent, undertake inter alia- (a) (i) that letters of allotment will be issued simultaneously and that, in the event of its being impossible to issue letters of regret at the same time, a notice to that effect will be inserted in the press so that it will appear on the morning after the letters of allotment have been posted, (ii) that letters of right will be issued 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 requ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion or recommendation of a dividend or the issue of right or bonus share will be considered; (g) to recommend or declare all dividends and/or cash bonuses at least five days before the commencement of the closure of its transfer books or the record date fixed for the purpose and to advise the stock exchange in 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 account 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... retirement in whole or in part of any securities listed on the exchange, (ii) of the intention to make a drawing of such securities, intimating at the same time the date of the 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 apprise the position of the company and to avoid the establishment of a false market in the shares of the company; (t) (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. 6 [(4) An application for listing shall be necessary in respect of the following: (a) all new issues of any class or kind of securities of a company to be offered to the public; (b) all further issues of any class or kind of securities of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ments as prescribed under clause (b) of sub-rule (2) shall not be applicable to the listing of such equity shares having superior voting rights issued to the promoters or founders as the case may be, in cases where the applicant company is seeking listing of its ordinary shares for offering to the public in accordance with the provisions of this rule and the regulations made by the Securities and Exchange Board of India in this regard. ] ********** 1 Substituted by the Securities Contracts (Regulation) (Amendment) Rules, 1996, w.e.f. 23.12.1996 before it was read as, sub-clause (i), read as under: (i) letters of consent of the Controller of Capital Issues. 2 Clause (b) substituted by the Securities Contracts (Regulation) Third Amendment Rules, 2014, w.e.f. 19-11-2014 before it was read as, the said clause, as amended by the Amendment Rules, 2001, w.e.f. 1-6-2001; the Securities Contracts (Amendment) Rules, 2010, w.e.f. 4-6-2010 and the Securities Contracts (Regulation) (Second Amendment) Rules, 2010, w.e.f. 9-8-2010, read as under : (b)(i) At least twenty five per cent of each class or kind of equity shares or debentures convertible into equity shares issued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntical 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 same nominal value and the same amount per share has been called up; (b) they are entitled to dividend at the same rate and for the same period, so that at the next ensuing distribution, the dividend payable on each share will amount to exactly the same sum, net and gross; and (c) they carry the same rights in all other respects. 7 Substituted by the Securities Contracts (Regulation) (Amendment) Rules, 2000, w.e.f. 08.08.2000. Earlier, the second proviso was amended by the Securities Contracts (Regulation) (Amendment) Rules, 1996, w.e.f. 23.12.1996. 8 Substituted by the Securities Contracts (Regulation) (Amendment), 2000, w.e.f. 08.08.2000. Earlier, sub-rule (6) was amended by the Securities Contracts (Regulation) (Amendment), 1996, w.e.f. 23.12.1996. 9 Substituted by the Securities Contracts (Regulations) (Second Amendment) Rules, 2010, w.e.f. 09.8.2010 before it was read as, sub-rule (6A) as amended by the Securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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