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of <h1>SEBI Circular: Stock Exchanges to Fine Companies for Non-Compliance with Bonus Issue and Share Allotment Rules.</h1> The circular addresses non-compliance with specific provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. It mandates stock exchanges to impose fines on listed entities for delays in completing bonus issues, failure to allot shares on convertible securities within 18 months, and not listing equity shares within 20 days of allotment. Fines collected will be credited to the Investor Protection Fund. Non-compliant entities are given 15 days to pay fines, failing which enforcement actions, including prosecution, may be initiated. The circular also clarifies conditions for bonus issue implementation and requires dissemination of non-compliance details on stock exchange websites.
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