This document provides answers to frequently asked questions regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It addresses questions about definitions of terms like associate company and related party. It also clarifies requirements around corporate governance, material related party transactions, unlisted subsidiaries, and disclosure of events and financial information. The answers provide guidance on interpreting and complying with various provisions of the listing regulations.
This document contains frequently asked questions and answers regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It addresses questions about definitions of terms like associate company and related party. It also discusses corporate governance requirements, materiality of subsidiaries, and disclosure of events. The answers clarify that regulations should be interpreted based on the Companies Act and accounting standards, and provide guidance on compliance with listing regulations.
This document provides answers to frequently asked questions regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It addresses questions about definitions of terms like associate company and related party. It also clarifies obligations around policies for document preservation, corporate governance practices, and disclosure of material information and events. The responses provide guidance on interpreting and complying with various provisions of the regulations.
Compromises, Arrangements & Amalgamations with special reference to Protectio...Corporate Professionals
A presentation ‘Compromises, Arrangements & Amalgamations with Special reference to Protection of Minority & Dissenting Shareholders under Companies Act, 2013 ‘ given by Mr. Chander Sawhney at IICA
Section 230 to 233 of Companies Act, 2013
Procedure for Scheme of Compromise, Amalgamation and Arrangement.
Also it covers the newly introduced Sec. 233 of Companies Act, 2013 for FAST TRACK MERGER
Presentation on industry perspective of listing regulations by CS Ahalada Rao V janyandkavi
This document discusses key aspects of SEBI's (Listing Obligation and Disclosure Requirements) Regulations, 2015 from an industry perspective. Some key points discussed include:
- The regulations consolidate various listing compliance provisions, apply to all types of securities listed, and expand disclosure and transparency coverage.
- Notable changes include transforming listing obligations from contractual to legal requirements and increasing penalties for non-compliance.
- Some regulations are principles-based rather than rules-based, requiring compliance with both the letter and spirit of the law.
- There are both similarities and contradictions with the Companies Act, 2013 regarding definitions, timelines, and financial reporting.
- New concepts introduced include definitions for material subsid
When non-residents are not required to file tax returns for income earned in ...DVSResearchFoundatio
Key Takeaways:
Charging section for taxability of non-residents
Incomes of non-residents for which no returns to be filed
Conditions to be satisfied for non-filing of returns
Representative assessee and its liability
M&A under New Companies Act, 2013- 04.10.14 FinalHarshul Shah
The document discusses key changes to mergers and acquisitions (M&A) under the new Indian Companies Act compared to the old act. Some high-level points include: approval of M&A schemes now requires board meeting approval; additional documents like a valuation report must be attached with notices; authorities have 30 days to provide representations on proposed deals; thresholds for shareholder objections were introduced; fees paid by transferor companies can now be set off against transferee companies. The process for schemes involving compromises/arrangements and amalgamations is now separated between sections 230 and 232 respectively.
Objectives & Agenda :
One of the primary and popular forms of raising money by a public company is by way of offer of securities to public. Private Companies are prohibited to invite the public to subscribe for any securities of the company. Such issue enables a company to raise funds from large number of investors. The webinar covers the aspects of overview on public issue, issue of prospectus, various types of prospectus, statutory provisions in the Companies Act, 2013, compliance aspects and judicial precedents.
This document contains frequently asked questions and answers regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It addresses questions about definitions of terms like associate company and related party. It also discusses corporate governance requirements, materiality of subsidiaries, and disclosure of events. The answers clarify that regulations should be interpreted based on the Companies Act and accounting standards, and provide guidance on compliance with listing regulations.
This document provides answers to frequently asked questions regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It addresses questions about definitions of terms like associate company and related party. It also clarifies obligations around policies for document preservation, corporate governance practices, and disclosure of material information and events. The responses provide guidance on interpreting and complying with various provisions of the regulations.
Compromises, Arrangements & Amalgamations with special reference to Protectio...Corporate Professionals
A presentation ‘Compromises, Arrangements & Amalgamations with Special reference to Protection of Minority & Dissenting Shareholders under Companies Act, 2013 ‘ given by Mr. Chander Sawhney at IICA
Section 230 to 233 of Companies Act, 2013
Procedure for Scheme of Compromise, Amalgamation and Arrangement.
Also it covers the newly introduced Sec. 233 of Companies Act, 2013 for FAST TRACK MERGER
Presentation on industry perspective of listing regulations by CS Ahalada Rao V janyandkavi
This document discusses key aspects of SEBI's (Listing Obligation and Disclosure Requirements) Regulations, 2015 from an industry perspective. Some key points discussed include:
- The regulations consolidate various listing compliance provisions, apply to all types of securities listed, and expand disclosure and transparency coverage.
- Notable changes include transforming listing obligations from contractual to legal requirements and increasing penalties for non-compliance.
- Some regulations are principles-based rather than rules-based, requiring compliance with both the letter and spirit of the law.
- There are both similarities and contradictions with the Companies Act, 2013 regarding definitions, timelines, and financial reporting.
- New concepts introduced include definitions for material subsid
When non-residents are not required to file tax returns for income earned in ...DVSResearchFoundatio
Key Takeaways:
Charging section for taxability of non-residents
Incomes of non-residents for which no returns to be filed
Conditions to be satisfied for non-filing of returns
Representative assessee and its liability
M&A under New Companies Act, 2013- 04.10.14 FinalHarshul Shah
The document discusses key changes to mergers and acquisitions (M&A) under the new Indian Companies Act compared to the old act. Some high-level points include: approval of M&A schemes now requires board meeting approval; additional documents like a valuation report must be attached with notices; authorities have 30 days to provide representations on proposed deals; thresholds for shareholder objections were introduced; fees paid by transferor companies can now be set off against transferee companies. The process for schemes involving compromises/arrangements and amalgamations is now separated between sections 230 and 232 respectively.
Objectives & Agenda :
One of the primary and popular forms of raising money by a public company is by way of offer of securities to public. Private Companies are prohibited to invite the public to subscribe for any securities of the company. Such issue enables a company to raise funds from large number of investors. The webinar covers the aspects of overview on public issue, issue of prospectus, various types of prospectus, statutory provisions in the Companies Act, 2013, compliance aspects and judicial precedents.
Key Takeaways:
Provisions governing RPT under Companies Act, 2013, SEBI (LODR), IND AS
Statutory compliances for RPT
Approval requirements for RPT
Disclosures norms for RPT under various statutes
The document is a presentation on the Companies (Auditor's Report) Order, 2020 (CARO 2020) by Rajvanshi & Associates. It provides an overview of CARO 2020, including its background, applicability, and the various matters that must be addressed in auditor's reports under CARO 2020. Specifically, it outlines the 21 paragraphs of CARO 2020 that auditors must comment on, such as fixed assets, loans & advances, statutory dues, fraud, related party transactions, and internal audit. It also lists companies that are exempt from CARO 2020, such as banking, insurance and small companies.
SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 – HIGH...FCS BHAVIK GALA
This article provides highlights and analysis of the recently notified SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 issued by SEBI.
New Companies Act, 2013- implications on banksHarshul Shah
The document discusses various provisions of the Companies Act that apply to banking companies. It states that the Companies Act applies to banking companies except where inconsistent with the Banking Regulation Act. It also discusses restrictions on companies providing loans for share purchases, prohibitions on share buybacks during loan defaults, and prohibitions on accepting deposits from the public, which do not apply to banking companies. The financial statements of banking companies are not required to be in the form provided in Schedule III of the Companies Act, but in the form required under the Banking Regulation Act.
Key Takeaways
Analysis of definitions in Income tax act and treaties
Taxability under the act and treaties
IRoyalty vs. Business income
Illustrative Cases
Judicial Precedents
OBJECTIVE
Compromise and arrangement is a form of Corporate Restructuring where company enters into an agreement with its creditors or members to reorganise the capital structure of the company. The webinar covers the aspects of statutory provisions pertaining to compromise and arrangement under Companies Act, 2013 in detail along with judicial precedents.
The document discusses key changes introduced by the Companies Act 2013 relating to listed companies and corporate governance norms for listed companies proposed by SEBI. Some key points include:
1) The Act introduces stricter compliance requirements for listed companies regarding disclosures, reporting and transparency. It aligns listing agreement with the Act and lays out roadmaps for listed entities.
2) SEBI approved amendments to the listing agreement to strengthen corporate governance norms for listed companies in line with the Act. The amendments will be applicable from October 1, 2014.
3) The Act introduces new audit requirements for listed companies regarding secretarial audit and internal audit. It also changes terms of appointment for statutory auditors.
4) The
Key Takeaways:
Enhanced reporting requirements in CARO, 2020
Significant changes in CARO, 2020
Matters specified in Auditor's report
Comparison between CARO, 2020 and CARO, 2016
Key Takeaways:
Appointment of directors under Singapore Companies Act
Disqualifications of directors
Powers and duties of directors
Removal and resignation of directors
The Amended Rules of Significant Beneficial ownership, 2019
Effective date : 08th February, 2019
MCA's step towards transparency of shareholding structures and help the government identify benami transactions and prevent money laundering activities.
#Sigificantbeneficialownershipamendedrules
The document discusses the key provisions of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 notified by the Ministry of Corporate Affairs.
It provides an overview of the procedures for schemes of amalgamation or arrangement under sections 230-232 of the Companies Act, 2013, including filing an application with the National Company Law Tribunal, convening shareholder/creditor meetings, and obtaining final approval from the Tribunal.
It also outlines the fast track merger process for smaller companies under section 233, which involves filing documents with the Registrar of Companies and Central Government for approval.
Finally, it covers the rules related to acquiring shares of dissenting shareholders and purchasing minority shareholdings under sections
The document discusses various aspects of corporate restructuring in India such as mergers, amalgamations, demergers, slump sales, and financial restructuring. It provides an overview of the key regulations governing takeovers in India from the Securities and Exchange Board of India. Examples of different corporate restructuring techniques including mergers and demergers are presented along with considerations around valuation, share exchange ratios, stamp duty implications and more. Two case studies demonstrating the use of group restructuring to increase promoter shareholding are also summarized.
This project report discusses mergers and amalgamations under the recently notified Companies Act 2013. Some key highlights include:
- Chapter XV of the new Act consolidates provisions dealing with compromises, arrangements, and amalgamations and sets up the NCLT to hear related proposals.
- The new Act aims to make the merger process easier, faster, and cleaner for companies through reforms like fast-track mergers and participation through postal ballot approval.
- It discusses the regulatory framework around mergers in India, including relevant sections of the Companies Act 2013, Accounting Standards, Court Rules, and other regulations.
- The report provides an overview of different types of mergers like conglomerate, horizontal, vertical mergers and analy
This document provides an overview of the Companies Act 2013 in India. Some key points:
- The Act was divided into 29 chapters and 7 schedules, with 98 sections notified and published on September 12, 2013. The remaining sections will be notified separately.
- The Act applies to companies incorporated in India, insurance companies, banking companies, companies generating/supplying electricity, and other companies governed by special Acts.
- The 98 notified sections cover topics like definitions, share capital, prospectus requirements, meetings, directors qualifications, and penalties for non-compliance.
- The document includes an index of the notified sections mapping them to corresponding sections from the previous Companies Act of 1956.
The Companies Act, 2013 introduce the novel concepts fast track merger for Small Companies and Holding and its wholly owned subsidiary Companies. This is the first significant change to merger and amalgamations regime in the last six decades, with the previous Companies Act having been in place since 1956.
The document provides information on various types of companies under the Companies Act 2013 such as one person company, small company, dormant company, and their key characteristics. It also summarizes the roles of an associate, registered valuer, financial year, corporate social responsibility, secretarial audit, and the National Financial Reporting Authority. Some of the key points covered include that a one person company can be owned by one individual, small companies have certain relaxations, dormant companies are inactive companies registered for future projects, associates have significant influence through shareholding or agreements, and registered valuers are required for certain valuation work.
The document describes implementing an enterprise service bus (ESB) using Mule to integrate different systems involved in processing a loan quote request. It discusses the components, including a Loan Broker service, Credit Agency service, Lender service, and Banking systems. The event flow is described, starting with a client request to the Loan Broker which triggers credit checks and requests loan quotes from various banks before returning the best offer to the client. Key aspects of the Mule implementation are outlined, including using messages, endpoints, and transformations to integrate the components over various transports.
Key Takeaways:
Provisions governing RPT under Companies Act, 2013, SEBI (LODR), IND AS
Statutory compliances for RPT
Approval requirements for RPT
Disclosures norms for RPT under various statutes
The document is a presentation on the Companies (Auditor's Report) Order, 2020 (CARO 2020) by Rajvanshi & Associates. It provides an overview of CARO 2020, including its background, applicability, and the various matters that must be addressed in auditor's reports under CARO 2020. Specifically, it outlines the 21 paragraphs of CARO 2020 that auditors must comment on, such as fixed assets, loans & advances, statutory dues, fraud, related party transactions, and internal audit. It also lists companies that are exempt from CARO 2020, such as banking, insurance and small companies.
SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 – HIGH...FCS BHAVIK GALA
This article provides highlights and analysis of the recently notified SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 issued by SEBI.
New Companies Act, 2013- implications on banksHarshul Shah
The document discusses various provisions of the Companies Act that apply to banking companies. It states that the Companies Act applies to banking companies except where inconsistent with the Banking Regulation Act. It also discusses restrictions on companies providing loans for share purchases, prohibitions on share buybacks during loan defaults, and prohibitions on accepting deposits from the public, which do not apply to banking companies. The financial statements of banking companies are not required to be in the form provided in Schedule III of the Companies Act, but in the form required under the Banking Regulation Act.
Key Takeaways
Analysis of definitions in Income tax act and treaties
Taxability under the act and treaties
IRoyalty vs. Business income
Illustrative Cases
Judicial Precedents
OBJECTIVE
Compromise and arrangement is a form of Corporate Restructuring where company enters into an agreement with its creditors or members to reorganise the capital structure of the company. The webinar covers the aspects of statutory provisions pertaining to compromise and arrangement under Companies Act, 2013 in detail along with judicial precedents.
The document discusses key changes introduced by the Companies Act 2013 relating to listed companies and corporate governance norms for listed companies proposed by SEBI. Some key points include:
1) The Act introduces stricter compliance requirements for listed companies regarding disclosures, reporting and transparency. It aligns listing agreement with the Act and lays out roadmaps for listed entities.
2) SEBI approved amendments to the listing agreement to strengthen corporate governance norms for listed companies in line with the Act. The amendments will be applicable from October 1, 2014.
3) The Act introduces new audit requirements for listed companies regarding secretarial audit and internal audit. It also changes terms of appointment for statutory auditors.
4) The
Key Takeaways:
Enhanced reporting requirements in CARO, 2020
Significant changes in CARO, 2020
Matters specified in Auditor's report
Comparison between CARO, 2020 and CARO, 2016
Key Takeaways:
Appointment of directors under Singapore Companies Act
Disqualifications of directors
Powers and duties of directors
Removal and resignation of directors
The Amended Rules of Significant Beneficial ownership, 2019
Effective date : 08th February, 2019
MCA's step towards transparency of shareholding structures and help the government identify benami transactions and prevent money laundering activities.
#Sigificantbeneficialownershipamendedrules
The document discusses the key provisions of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 notified by the Ministry of Corporate Affairs.
It provides an overview of the procedures for schemes of amalgamation or arrangement under sections 230-232 of the Companies Act, 2013, including filing an application with the National Company Law Tribunal, convening shareholder/creditor meetings, and obtaining final approval from the Tribunal.
It also outlines the fast track merger process for smaller companies under section 233, which involves filing documents with the Registrar of Companies and Central Government for approval.
Finally, it covers the rules related to acquiring shares of dissenting shareholders and purchasing minority shareholdings under sections
The document discusses various aspects of corporate restructuring in India such as mergers, amalgamations, demergers, slump sales, and financial restructuring. It provides an overview of the key regulations governing takeovers in India from the Securities and Exchange Board of India. Examples of different corporate restructuring techniques including mergers and demergers are presented along with considerations around valuation, share exchange ratios, stamp duty implications and more. Two case studies demonstrating the use of group restructuring to increase promoter shareholding are also summarized.
This project report discusses mergers and amalgamations under the recently notified Companies Act 2013. Some key highlights include:
- Chapter XV of the new Act consolidates provisions dealing with compromises, arrangements, and amalgamations and sets up the NCLT to hear related proposals.
- The new Act aims to make the merger process easier, faster, and cleaner for companies through reforms like fast-track mergers and participation through postal ballot approval.
- It discusses the regulatory framework around mergers in India, including relevant sections of the Companies Act 2013, Accounting Standards, Court Rules, and other regulations.
- The report provides an overview of different types of mergers like conglomerate, horizontal, vertical mergers and analy
This document provides an overview of the Companies Act 2013 in India. Some key points:
- The Act was divided into 29 chapters and 7 schedules, with 98 sections notified and published on September 12, 2013. The remaining sections will be notified separately.
- The Act applies to companies incorporated in India, insurance companies, banking companies, companies generating/supplying electricity, and other companies governed by special Acts.
- The 98 notified sections cover topics like definitions, share capital, prospectus requirements, meetings, directors qualifications, and penalties for non-compliance.
- The document includes an index of the notified sections mapping them to corresponding sections from the previous Companies Act of 1956.
The Companies Act, 2013 introduce the novel concepts fast track merger for Small Companies and Holding and its wholly owned subsidiary Companies. This is the first significant change to merger and amalgamations regime in the last six decades, with the previous Companies Act having been in place since 1956.
The document provides information on various types of companies under the Companies Act 2013 such as one person company, small company, dormant company, and their key characteristics. It also summarizes the roles of an associate, registered valuer, financial year, corporate social responsibility, secretarial audit, and the National Financial Reporting Authority. Some of the key points covered include that a one person company can be owned by one individual, small companies have certain relaxations, dormant companies are inactive companies registered for future projects, associates have significant influence through shareholding or agreements, and registered valuers are required for certain valuation work.
The document describes implementing an enterprise service bus (ESB) using Mule to integrate different systems involved in processing a loan quote request. It discusses the components, including a Loan Broker service, Credit Agency service, Lender service, and Banking systems. The event flow is described, starting with a client request to the Loan Broker which triggers credit checks and requests loan quotes from various banks before returning the best offer to the client. Key aspects of the Mule implementation are outlined, including using messages, endpoints, and transformations to integrate the components over various transports.
ندهش
عندما نعرف أن كثير
من البروتينات فى الخليه
تتكون فى صوره خاطئة
لابد من تكسيرها وإعادة بنائها
ولكن أهم من ذلك ان تقوم الخليه
بتنظيم تفاعل كيميائى معين
بإيقاف عمل بروتين معين
وبتكسيره للبروتين والاستفادة من وحداته
Передача руководителями образовательных организаций ответственности и полном...direkciyaDOgM
Передача руководителями образовательных организаций ответственности и полномочий по финансовым вопросам в полном объеме первым заместителям по управлению ресурсами
Procesos mentales de psicofisiologia ruth lezamaRuth Lezama
Los procesos mentales son operaciones de pensamiento que permiten almacenar, elaborar y traducir datos percibidos por los sentidos para su uso inmediato o posterior. Incluyen procesos cognitivos básicos como la memoria y la percepción, y procesos cognitivos superiores como la inteligencia, el lenguaje y el pensamiento. La inteligencia se define como la capacidad de reconocer los propios sentimientos y los ajenos, motivarse a sí mismo y manejar bien las emociones. Existen varias teorías sobre la inteligencia,
The document discusses marker-assisted breeding and the services provided by the Sequencing and Genotyping Platform. It outlines the steps in marker-assisted selection, from laying out seedlings and collecting samples to running analyses. It also lists the facilities and equipment available, including robotic platforms for liquid handling and DNA/RNA extraction, real-time PCR systems, capillary sequencers, and Illumina platforms for high-throughput genotyping. The platform provides support for marker-assisted breeding programs through services like whole genome sequencing, targeted resequencing, and protocol development for next-generation sequencing applications.
This document provides a summary of the key features of the Indian government's budget for 2016-2017. It outlines the economic challenges faced, priorities such as job creation and infrastructure development, sectoral allocations for agriculture, rural development, social programs, and reforms planned in taxation, financial sector, ease of doing business and fiscal management. The budget aims to boost growth while ensuring macroeconomic stability through prudent fiscal policy and a focus on priority sectors.
Introduction and indications of BONE SCANAmir Bahadur
Bone scintigraphy, or a bone scan, is a nuclear medicine imaging technique used to evaluate bone abnormalities. It involves injecting technetium-99m labeled diphosphonate which is absorbed by areas of high bone turnover and then imaging its distribution throughout the skeleton. A bone scan has high sensitivity but low specificity for detecting bone abnormalities. It is commonly used to detect bone metastases from cancer, evaluate orthopedic conditions like fractures and infections, and monitor treatment response. The presentation provides an overview of bone scanning techniques and its clinical indications.
Este documento describe las características y funciones de los músculos en el cuerpo humano. Explica que hay tres tipos principales de músculos: músculos esqueléticos, que controlan el movimiento voluntario; músculos lisos, que controlan funciones internas involuntarias; y músculos cardíacos, que hacen latir el corazón. También describe que los músculos están compuestos de fibras, tienen la capacidad de contraerse y relajarse, y cumplen funciones como el movimiento, la generación
Estructura de las membranas presentes en la célulaHogar
Una guía sobre la ESTRUCTURA DE LA MEMBRANA CELULAR). Los estudiantes deben trabajar en pequeños grupos usando esta guía, la cual presenta 1 modelos gráfico, varias imágenes y la típica sección "lea esto". Se incluyen preguntas orientadoras diseñadas para guiar a los estudiantes en la formulación de sus propias conclusiones. El docente actúa como líder, facilitador, evaluador, trabajando con los grupos de estudiantes cuando necesitan ayuda.
Evolución y selección. Guía para tercero medio, Biología, plan comúnHogar
Una guía Evolución y selección natural y artificial. Los estudiantes deben trabajar en pequeños grupos usando esta guía, la cual presenta 3 modelos gráficos y de datos, seguidos por preguntas orientadoras diseñadas para guiar a los estudiantes en la formulación de sus propias conclusiones. El docente actúa como líder, facilitador, evaluador, trabajando con los grupos de estudiantes cuando necesitan ayuda.
El documento habla sobre el tejido muscular. Explica que el tejido muscular está compuesto por células musculares llamadas fibras musculares que se contraen para generar movimiento. Las fibras musculares se agrupan en haces y fascículos musculares que a su vez forman los músculos.
Este documento describe diferentes tipos de intersexualidad o hermafroditismo, incluyendo intersexualidad 46,XX, 46,XY, intersexualidad gonadal verdadera e intersexualidad compleja. Define cada tipo y explica sus posibles causas, como hiperplasia suprarrenal congénita, deficiencias enzimáticas o síndrome de insensibilidad a los andrógenos. También describe características generales como genitales ambiguos al nacer o cambios inesperados en la pubertad.
Slideshare fisiologia los procesos mentalesannapri66
Este documento resume los principales procesos mentales como la inteligencia, atención, aprendizaje, memoria, creatividad y emociones. Explica la teoría de las inteligencias múltiples y tipos de aprendizaje como el significativo, observacional y latente. El documento analiza cada proceso mental de forma concisa.
SEBI(LODR)Regulations - Obligations on listing of specified securities - Part IIDVSResearchFoundatio
Key Takeaways:
Related party transactions
Obligations of directors including independent directors, employees including KMPs
Corporate Governance requirements
SEBI(LODR)Regulations - Obligations on listing of specified securities - Part IIDVSResearchFoundatio
Key Takeaways:
Related party transactions
Obligations of directors including independent directors, employees including KMPs
Corporate Governance requirements
Related Party Transaction Policy And The SubsidiariesAtishNayar
Related party transaction is a transfer of resources, services or obligations between a company and a related party, regardless of whether a price is charged. A transaction with a related party shall be construed to include single transaction or a group of transactions in a contract.
The document discusses various Indian laws and regulations related to mergers and acquisitions, including the Companies Act, Competition Act, Foreign Exchange Management Act, SEBI Takeover Code, and Income Tax Act. It outlines provisions around arrangements, amalgamations, mergers, foreign investment, tax treatment of mergers, and SEBI regulations governing disclosure of shareholdings and acquisition of shares/voting rights above certain thresholds. The document notes that SEBI has modified its takeover regulations over time to protect shareholder and economic interests.
The SEBI has notified new listing regulations that consolidate existing listing rules and align them with the Companies Act of 2013. The regulations replace all previous listing agreements and will be effective 90 days after publication. Two provisions regarding related party transactions and reclassification of promoters will apply immediately. The regulations divide content into substantive provisions and procedural schedules. Listed companies must sign a new shortened listing agreement within six months and the regulations apply to all listed securities on stock exchanges.
The document discusses key concepts related to takeover regulations in India. It defines terms like acquirer, target company, control, shares, thresholds for compliance, and inter-se transfers. It explains the different categories of inter-se transfers such as between relatives, group companies, and qualifying promoters. It also discusses the checks and balances in the takeover code as well as issues around preferential allotment of shares and its interaction with the takeover regulations.
The document discusses key concepts related to preferential allotment of shares under Indian law. It explains the governing regulations, pricing and timeline requirements, lock-in periods, limits on allotment to existing shareholders to avoid triggering open offer obligations under takeover regulations. Preferential allotment is presented as a simple way for companies to raise capital with minimum formalities, but strict compliance with pricing, lock-in and other norms is required.
This document provides an overview of the Companies (Auditor's Report) Order, 2016 (CARO 2016) and its reporting requirements for auditors. Some key points summarized:
1. CARO 2016 applies to audits of financial statements for periods beginning on or after April 1, 2015 and supersedes the earlier CARO 2015. It is applicable to foreign companies with a place of business in India.
2. The Order specifies 16 clauses covering matters like fixed assets, inventory, loans, compliance with sections 185 and 186, default in repayment of loans, end-use of funds raised, fraud, managerial remuneration, related party transactions, that must be reported on.
3. Certain companies like
This document discusses key concepts related to takeover code in India. It begins by defining key terms like acquirer, target company, control, shares etc. It then explains the various thresholds defined for compliance and open offer under takeover regulations. Inter-se transfer between promoters, relatives and group companies are exempted from open offer requirements. The document also discusses taxation issues related to inter-se transfers, preferential allotment of shares and compares preferential allotment with takeover code. It concludes by addressing some common queries related to calculation of shareholding post preferential allotment and compliance requirements.
This document summarizes key differences between provisions governing schemes of arrangements and compromises under the existing Companies Act of 1956 and the proposed Companies Bill of 2012. Some key changes proposed in the Bill include transferring power to sanction schemes from courts to a tribunal, additional disclosure requirements for schemes, and provisions to facilitate mergers and amalgamations between Indian and foreign companies. The document provides a section-by-section comparative analysis of the relevant sections and clauses under the two laws.
The document discusses various exemptions provided under the SEBI Takeover Code regulations. It explains key terms related to takeovers and the provisions of Regulations 10, 11, and 12 from which exemptions can be provided under Regulation 3. It then explores the various categories of exemptions provided under Regulations 3(1) including inter-se transfers, acquisitions in ordinary course of business, and transfers pursuant to schemes of arrangement. It also discusses conditions for availing exemptions and matters of debate addressed by SEBI in relation to certain cases.
The document summarizes new rules notified in India that permit cross-border mergers through a scheme sanctioned by the National Company Law Tribunal. Key points:
- Section 234 of the Companies Act 2013 and new Rule 25A allow an Indian company to merge with a foreign company or vice versa, as long as the foreign company is from a recognized jurisdiction.
- Mergers require compliance with Sections 230-232 of the Act, RBI approval, valuation of both companies by qualified valuers, and regulations on foreign investments into India if an Indian company merges with a foreign one.
- If an Indian company merges into a foreign one, regulations on overseas investments will apply to the resultant foreign company.
The document summarizes a paper reviewing the evolution of India's takeover code and key recommendations of the TRAC committee report. It discusses how the code began with Clause 40 of the listing agreement and was later formalized through SEBI regulations. The TRAC report suggested increasing the initial open offer trigger from 15% to 25% shares, requiring open offers for all shares, and strengthening disclosure requirements. It also analyzed judicial precedents and concluded the code aims to ensure fairness while balancing stakeholder interests but full harmonization of regulations is still needed.
This document summarizes the key differences between private and public companies under the Companies Act of 1956 in India. It explains that private companies can have 2-50 members and a minimum paid-up capital of Rs. 1 lakh, while public companies can have 7 or more members and a minimum paid-up capital of Rs. 5 lakh. Private companies are more limited in their ability to invite public investment and have less regulatory requirements than public companies. The document also outlines the detailed process for converting a private company into a public company to comply with statutory rules.
The document discusses recent amendments made by the Securities and Exchange Board of India (SEBI) to regulations governing listed companies undergoing insolvency resolution under the Insolvency and Bankruptcy Code. Specifically, it was amended that preferential issues of convertible securities by such companies would be exempt from certain pricing guidelines. It was also amended that resolution plans can allow acquirers to hold over 75% shares and delist companies without following standard delisting procedures, if the plan provides an exit price for shareholders of at least the liquidation value.
This document outlines the listing requirements for companies seeking to have their securities listed on the Zimbabwe Stock Exchange (ZSE). It includes sections on authority of the listings committee, sponsoring brokers, continuing obligations, listing conditions and procedures, financial information disclosure, related party transactions, and requirements for different types of companies. The chairman's preface notes that the requirements have been extensively amended to reflect current international standards and market practice in Zimbabwe and abroad.
This document outlines the listing requirements for companies seeking to have their securities listed on the Zimbabwe Stock Exchange (ZSE). It includes sections on authority of the listings committee, sponsoring brokers, continuing obligations, listing conditions and procedures, financial information disclosure, related party transactions, and requirements for different types of companies such as mineral and property companies. The chairman's preface notes that the requirements have been extensively amended to reflect current international standards and market practice in Zimbabwe and abroad.
This presentation clarifies the provisions of SEBI Takeover Code including exemptions and creeping acquisition provisions. In addition to this, it gives an anlaysis of recent amendment in regulations and judicial pronouncements made under these regulations.
Single Master Form introduced for reporting Foreign investment in India.GAURAV KR SHARMA
The Reserve Bank of India will introduce a Single Master Form (SMF) to integrate reporting of foreign investment in India. The SMF will be filed online. It will provide a facility to report total foreign investment in an Indian entity as well as investment in an Investment Vehicle by non-residents. Indian entities must input data on total foreign investment through an online interface available from June 28, 2018 to July 12, 2018. Entities not complying will be non-compliant with foreign exchange laws and regulations. The format of the SMF is provided in the annexures. Commercial banks are asked to inform customers of this new reporting requirement under FEMA.
The document summarizes key amendments made by the Companies (Amendment) Act, 2017 in India. Some of the major amendments addressed difficulties in implementation of certain provisions, facilitated ease of doing business, and harmonized company law with other statutes. Specifically, it reduced the time period for name reservation from 60 to 20 days, increased the deadline for informing about a change in registered office from 15 to 30 days, and required companies to prepare consolidated financial statements including associate companies in addition to subsidiaries.
Monitoring of Foreign Investment limits in listed Indian companies May 17th 2018GAURAV KR SHARMA
SEBI issued a circular amending two previous circulars regarding monitoring foreign investment limits in listed Indian companies. The deadline for companies to provide necessary data to depositories was extended to May 25th. The new monitoring system was pushed back to becoming operational on June 1st, in response to requests from stakeholders. This circular was issued under powers of the Securities and Exchange Board of India Act of 1992.
The document outlines amendments made by the Securities and Exchange Board of India to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key changes include requiring listed companies to have at least one independent woman director, increasing the minimum board size for large companies, setting limits on the number of directorships a person can hold, strengthening independent director requirements, and enhancing nomination and remuneration committee meetings and composition. The amendments are aimed at improving corporate governance practices of listed companies in India.
Latest Circular on Non compliance of SEBI LODR Regulations GAURAV KR SHARMA
This document outlines the standard operating procedure that stock exchanges must follow for imposing fines and suspending trading of securities for listed entities that are non-compliant with certain provisions of SEBI's Listing Obligations and Disclosure Requirements Regulations. It specifies the fines to be levied for different types of non-compliances and the process for moving securities to a "Z" category with trade for trade settlement or suspending trading. It also details the procedure for revoking suspension or initiating compulsory delisting for entities that remain non-compliant.
SEBI update on Additional Risk management measures for derivatives segmentGAURAV KR SHARMA
The document is a circular from the Securities and Exchange Board of India (SEBI) announcing additional risk management measures for derivatives trading in stock exchanges and clearing corporations. It requires stock exchanges and clearing corporations to (1) collect initial margin, exposure margin, extreme loss margin, calendar spread margin and mark to market settlements from clearing members and trading members for equity derivatives trading; (2) enforce collection of these margins from clearing members and trading members for both equity and currency derivatives; and (3) calculate liquid net worth for clearing members in equity derivatives by deducting initial and exposure margins from liquid assets. The provisions take effect from June 1, 2018.
SEBI Circular dated Feb 22, 2018 with regard to manner of achieving minimum p...GAURAV KR SHARMA
The document outlines additional methods allowed by the Securities and Exchange Board of India (SEBI) for listed entities to comply with minimum public shareholding requirements. Specifically:
SEBI will allow open market sale of up to 2% of shares by promoters/promoter groups and allotment of eligible securities through Qualified Institutions Placement. For open market sales, listed entities must announce details in advance and promoters cannot purchase shares on sale dates. SEBI reiterates prior methods and provides a compilation of all allowed methods to achieve minimum public shareholding levels.
This notification announces that various sections of the Companies (Amendment) Act 2017 will come into force on February 6, 2018. Specifically, sections 2, 3, 9, 11-12, 14, 17, 27-29, 32, 34-35, 38, 41-45, 47-48, 50-51, 53, 59-60, 63-65, 72-74, 77-79, 82, 84-85, and 90-93 will take effect from that date. The notification is issued by the Ministry of Corporate Affairs, Government of India to inform all relevant parties of the commencement of these new provisions.
Mca has notified below mentioned 41 sections of companies amendment actGAURAV KR SHARMA
The document notifies that 41 sections of the Companies Amendment Act, 2017 will come into effect from February 9th, 2018. These sections pertain to definitions, member liability, authentication of documents, voting rights, issue of shares, board meetings, related party transactions, auditing standards, and qualifications for directors, tribunal members, and appellate tribunal members among other things. The notification provides a table with the section numbers of the amendment act and the corresponding sections in the Companies Act, 2013 that have been amended.
Securities and Exchange Board of India (International Financial Services Cent...GAURAV KR SHARMA
The document is a circular from the Securities and Exchange Board of India (SEBI) announcing amendments to the definition of "issuer" in the SEBI (International Financial Services Centres) Guidelines from 2015. The definition has been amended to include any entity incorporated in India seeking to raise foreign currency other than Indian rupee with necessary approvals, any entity incorporated abroad allowed to issue securities outside its place of incorporation per local laws, and any supranational organizations allowed to issue securities per their constitution. The circular was issued under SEBI's power to protect investors and regulate securities markets.
Report Submitted by Committee on Corporate Governance GAURAV KR SHARMA
The committee was formed in June 2017 under the chairmanship of Mr. Uday Kotak to enhance corporate governance standards of listed Indian entities. It consisted of officials from government, industry, professional bodies and academia.
The committee's terms of reference were to make recommendations to SEBI on ensuring independence of independent directors, improving related party transaction disclosures and safeguards, addressing issues in accounting/auditing practices, improving board evaluation effectiveness, and addressing investor voting issues.
The committee submitted its report on October 5, 2017 after taking public comments on its recommendations.
Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notif...GAURAV KR SHARMA
The Central Board of Excise and Customs of India determined new exchange rates of foreign currencies relating to imported and exported goods, effective September 22, 2017. Schedules I and II list 19 currencies and their exchange rates in Indian rupees for both imported and exported goods. For example, the rate for the Australian dollar was set at 52.65 rupees for imported goods and 50.80 rupees for exported goods. The notification supersedes the previous exchange rate notification from September 7, 2017.
Outsourcing of activities by Stock Exchanges and Clearing CorporationsGAURAV KR SHARMA
The Securities and Exchange Board of India (SEBI) issued a circular to clarify regulations around exchange traded cross currency derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs. Key points:
- SEBI had previously laid out a framework for these cross currency futures and options contracts, as well as currency options on EUR-INR, GBP-INR and JPY-INR.
- The circular modifies the proprietary position limits for stock brokers (both bank and non-bank) for positions created in foreign currency-rupee pairs like USD-INR.
- Stock exchanges must implement a uniform methodology, in consultation, for computing and monitoring these proprietary position
Clarification on Exchange Traded Cross Currency Derivatives contracts on EUR-...GAURAV KR SHARMA
The document provides guidelines from the Securities and Exchange Board of India (SEBI) for stock exchanges and clearing corporations regarding outsourcing activities. Some key points:
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- Core and critical activities like trading, clearing, settlement, and regulatory functions cannot be outsourced.
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- Exchanges and clearing corporations retain ultimate responsibility and must monitor outsourced services and have contingency plans.
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Frequently Asked Questions
January 21, 2016
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Disclaimer: Based on queries/ comments received from market participants, these FAQs have
been prepared to provide guidance on the provisions of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("the Regulations", "Listing Regulations", "LR") and circulars
issued there under. For full particulars of laws governing continuous disclosure requirements,
please refer to the Acts/Regulations/Guidelines/Circulars etc. appearing under the Legal
Framework Section of SEBI website i.e., www.sebi.gov.in and the websites of respective
recognized stock exchanges.
A. Definitions
Q1. Regulation 2(1)(b) of LR defines an ‘associate company’ to mean any entity which is an
associate under the Companies Act, 2013 or under the applicable accounting
standards. Whether both conditions have to be met or either of the two?
Answer: The definition of associate company should be viewed under the Companies
Act, 2013 as well as Accounting Standards. If the condition is met under either of the
two, then such entity should be classified as an associate company.
Q2. Regulation 2(1)(zb) of LR defines the term ‘Related party’ to mean related party under
the Companies Act, 2013 or under the applicable Accounting Standards. Whether both
conditions have to be met or either of the two?
Answer: The definition of related party should be viewed under the Companies Act,
2013 as well as Accounting Standards. If the condition is met under either of the two,
then such party should be classified as a related party.
B. Corporate Governance
Q3. Regulation 17(8) of LR requires a compliance certificate to the Board of directors by
Chief Executive Officer (CEO) and Chief Financial Officer (CFO). Whether the Managing
Director or Whole Time Director may certify the compliance certificate, when the
company has not designated a CEO?
Answer: Such certificates may be signed by the officials who hold powers, duties and
responsibilities of a CEO/ CFO irrespective of their designations.
2. Page 2 of 6
Q4. Regulation 23 (4) provides that all material related party transactions shall require
approval of the shareholders through resolution and the related parties shall abstain
from voting on such resolutions whether the entity is a related party to the particular
transaction or not. In this regard, whether only those related parties who are related
to the concerned transaction/ contract should abstain from voting or whether related
parties should altogether abstain from voting?
Answer: The requirement under Regulation 23(4), is applicable for listed entities subject
to the provisions of Regulation 15. Hence, for applicable entities, the regulations clearly
provide that all material related party transactions shall require approval of the
shareholders through resolution and the related parties shall abstain from voting on
such resolutions whether the entity is a related party for the particular transaction or
not.
Q5. Regulation 23(8) requires all existing material related party contracts or arrangements
entered into prior to the date of notification of these regulations and which may
continue beyond such date shall be placed for approval of the shareholders in the first
General Meeting subsequent to notification of these regulations. Whether the listed
entity requires to take a fresh shareholders approval in case it has already taken an
approval prior to implementation of these regulations?
Answer: The listed entity need not take fresh approval of shareholders in case the entity
has already fulfilled the requirement of the regulations.
Q6. Regulation 24(1) prescribes having at least one independent director of the listed
entity as a director on the board of directors of 'unlisted material subsidiary,
incorporated in India'. Sub-regulations (2), (3) and (4) to the same regulation refer to
'unlisted subsidiary'. Whether such sub-regulations (2), (3) and (4) are applicable to all
unlisted subsidiaries or only material unlisted subsidiaries incorporated in India?
Answer: Listed entities may be guided by the provisions of Regulation 24. Wherever
'unlisted material subsidiary' and 'unlisted subsidiary' have been distinctly mentioned in
a particular sub-regulation, such sub-regulation shall be applicable to material unlisted
subsidiaries or all unlisted subsidiaries as the case may be.
Q7. Regulation 24 (4) requires that the management of the unlisted subsidiary shall
periodically bring to the notice of the board of directors of the listed entity, a
statement of all significant transactions and arrangements entered into by the
unlisted subsidiary. Whether the requirement is applicable only to the material
unlisted subsidiary?
Answer: The requirement is applicable to all unlisted subsidiaries.
3. Page 3 of 6
Q8. Regulation 26(1) stipulates that a director shall not be a member in more than ten
committees or act as chairperson of more than five committees across all listed
entities. Clause (a) to the aforesaid sub-regulation requires membership on
committees that a director serves in all public limited companies, whether listed or
not, to be included for determining the count of committee membership/
chairmanship for sub-regulation (1) and excludes membership on committees of
private limited companies, foreign companies and companies under Section 8 of the
Companies Act, 2013. Whether a director can be committee member for ten listed
entities only or the same includes unlisted public companies as well?
Answer: A director of a listed entity can be member in maximum ten committees and
chairperson of more than five committees of listed entities and unlisted public limited
companies put together.
C. Disclosure of Events or Information
Q9. Regulation 30(8) of LR requires posting of disclosures on the listed entity’s website for
a minimum period of five years. Whether the said provision is prospective from
December 1, 2015 and pertains to disclosures relating to events happening thereafter?
Answer: The disclosures made under Regulation 30(8) shall be made w.e.f. December
01, 2015, i.e., the listed entity shall disclose on its website all such events or information
which has been disclosed to stock exchange(s) under this regulation on or after the said
date, and such disclosures shall be hosted on the website of the listed entity for a
minimum period of five years from the date of disclosure to the stock exchange.
Q10. Regulation 30(9) of LR requires disclosure of all events and information with respect to
subsidiaries which are material. If both parent and subsidiary are listed entities, would
it be sufficient compliance if the listed subsidiary has made a disclosure or whether
same disclosure be made by the parent listed entity also?
Answer: Both the parent and material subsidiary in their own right as Listed Entities
have to make disclosure separately as applicable under Listing Regulations.
Q11. Regulation 16 (1)(c) defines material subsidiary as - “material subsidiary” shall mean a
subsidiary, whose income or net worth exceeds twenty percent of the consolidated
income or net worth respectively, of the listed entity and its subsidiaries in the
immediately preceding accounting year.” The Explanation to Regulation 16 (1)(c)
states that the listed entity shall formulate a policy for determining material
subsidiary. Can the listed entity adopt a different criteria for determining material
subsidiary for the purpose of Regulation 30 (9)?
Answer: The definition of 'material subsidiary' under regulation 16(1)(c) defines a
subsidiary that is material to the listed entity. Further, the explanation to the aforesaid
4. Page 4 of 6
provision allows the listed entity to formulate a policy for the same, i.e., a listed entity
can develop criteria that is stricter than what has been provided in the Regulations.
Regulation 30(9) requires the listed entity to disclose all events or information with
respect to subsidiaries which are material for the listed entity. The said sub-regulation
places stress on materiality of the events or information. Therefore, disclosure would be
required in cases where the event or information originating from a subsidiary is
material to the listed entity, irrespective of whether such a subsidiary is material or not
as per the definition provided at regulation 16(1)(c).
Q12. Schedule III Part A, Para A, item 1(ii)(a) requires disclosures on acquisition or
agreements to acquire shares or voting rights in a company, whether directly or
indirectly, such that the listed entity holds shares or voting rights aggregating to five
per cent or more of the shares or voting rights in the said company. Whether the
disclosure is with respect to acquisition of shares or voting rights when the target
company is a listed entity only or whether it is applicable to unlisted entities also?
Answer: The Schedule refers to the listed entity’s acquisition of shares or voting rights in
the company. Such target company can be listed or unlisted.
Q13. Schedule III Para A of Part A, item 4 (d) on deemed material events mentions that a
listed entity shall disclose within 30 minutes of the closure of the meeting the decision
with respect to fund raising proposed to be undertaken. What all methods of fund
raising are covered under the same?
Answer: The listed entity may be guided by Regulation 29(1) (d) which stipulates the
types of fund raising an entity is required to intimate to Stock Exchange.
D. Other Clarifications
Q14. Under Regulation 33(3), for submission of financial results for the last quarter,
whether Unaudited Results can be submitted to the Exchanges?
Answer: Regulation (33)(3)(d) clearly states that the listed entity shall file audited
annual results in 60 days from the end of the last quarter. Therefore, the financial
statements for the last quarter shall necessarily be audited. The said provision was also
there in the erstwhile Listing Agreement.
Q15. Regulation 33 (3)(d) requires a company to submit audited standalone financial results
for the financial year, within sixty days from the end of the financial year along with
the audit report and either Form A (for audit report with unmodified opinion) or Form
B (for audit report with modified opinion). However for listed entities having
subsidiaries whether two sets of Form A or Form B have to be prepared for standalone
and consolidated results?
5. Page 5 of 6
Answer: A company having subsidiaries will prepare two sets of Form A and/or Form B,
one for standalone results and another for consolidated results based on the respective
audit report.
Q16. Regulation 34 (2) (f) requires Annual Report to contain Business Responsibility Report
(BRR). Since when this requirement will be applicable?
Answer: Presently Regulation 34 requires top hundred listed entities based on market
capitalization(calculated as on March 31 of every financial year) to compulsorily and
other than top hundred listed entities to voluntarily include BRR in their Annual Report.
Subsequent to amendment in SEBI (Listing Obligations and Disclosure Requirements)
Regulation 2015 notified on December 22, 2015, the requirement of mandatory
reporting of BRR in Annual Report has been raised from hundred to five hundred listed
entities which will be effective from April 1, 2016 and hence it will form a part of the
Annual Report for the financial year 2016-17.
Q17. Regulation 35 requires the listed entity to submit to the stock exchange(s) an Annual
Information Memorandum in the manner specified by the Board from time to time.
Since the Regulations do not currently specify the applicable date and the manner, is
the said provision currently applicable?
Answer: As mentioned, in the regulation, the said requirement will become applicable
as and when Annual Information Memorandum is specified by SEBI.
Q18. Regulation 40(3) requires that the listed entity shall register transfers of its securities
in the name of the transferee(s) and issue certificates or receipts or advices, as
applicable, of transfers; or issue any valid objection or intimation to the transferee or
transferor, as the case may be, within a period of fifteen days from the date of such
receipt of request for transfer. It provides that the listed entity shall ensure that
transmission requests are processed for securities held in dematerialized mode and
physical mode within seven days and twenty one days respectively, after receipt of
the specified documents and that proper verifiable dated records of all
correspondence with the investor shall be maintained by the listed entity. In this
regard, how would a company ensure compliance in an era where companies have no
role to play in processing of transmission of securities held in dematerialized mode?
Answer: The provision in Regulation 40(3) may be read in context with Regulation 7(1)
which states that the listed entity shall appoint a share transfer agent or manage the
share transfer facility in-house. In cases where the listed entity is managing the share
transfer in-house, such compliance may be ensured. In this regard, the share transfer
agent is an agent of the listed entity and it is imperative that the listed entity as a
principal shall supervise the activities of its agent. Further, Regulation 8 provides that
the listed entity, wherever applicable, shall co-operate with and submit correct and
6. Page 6 of 6
adequate information to the intermediaries registered with the Board including registrar
to an issue and share transfer agents.
Q19. As per Regulation 46(2)(n), the listed entity is required to disseminate on its website
details of agreements entered into with the media companies and/or their associates,
etc. In this regard, should the listed entity disclose all agreements entered into with
media companies/ their associates including ordinary agreements or disclose only
such agreements that are not in the normal course of business as required under item
5 of paragraph A of part A of Schedule III of LR?
Answer: It is clarified that only such agreements that are not in the normal course of
business shall be disclosed. Listed entities may refer to SEBI Press Release No. 200/2010
dated August 27, 2010 and Press Council of India Press Release No. PR/3/10-11-PCI
dated August 02, 2010 wherein concerns related to 'private treaties' and their
disclosures have been discussed in detail.
Q20. Regulation 46 (3) requires listed entity to update any change in the content of its
website within two working days from the date of such change in content. Whether
change in the content of website means any change on the website?
Answer: Regulation 46(2) prescribes the list of information to be disseminated by a
listed entity on its website. Regulation 46 (3) refers to the update of any change in the
content which is provided as per the requirements of Regulation 46 (2).
E. Miscellaneous
Q21. The regulations do not define 'working days'. Whether the same can be clarified?
Answer: 'Working days' means working days of the stock exchange where the securities
of the entity are listed.
Note: Additional FAQs will be issued shortly.
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