Regulation 127 authorises a recognised stock exchange to compulsorily delist an issuer's securities or permitted financial products where they have remained suspended for more than six months, have been compulsorily delisted by another exchange, or where special circumstances warrant removal. The delisting power may also be exercised where the Authority, another relevant authority, or a court having jurisdiction directs that such securities or products be delisted.

Voluntary delisting permits a recognised stock exchange to remove a listed entity's securities when the entity submits a request. Delisting must occur in the manner and subject to conditions specified by the Authority. The exchange's power depends on the listed entity's request and adherence to applicable requirements governing voluntary delisting.

Suspension of trading in securities or permitted financial products may be imposed where an issuer fails to comply with regulatory requirements, has been suspended from trading by another exchange, or where suspension is necessary to ensure orderly market operation. Trading in suspended securities may be restored when continued suspension is no longer required.

Finality of an approved resolution plan fixes the treatment of corporate-debtor liabilities and binds creditors within the corporate insolvency resolution process. A disputed or unadjudicated right to payment may be submitted as a claim during CIRP, but does not independently preserve civil or arbitral proceedings after plan approval. Where the final claims list and the plan provide for discharge of pre-effective-date liabilities and extinguishment of related proceedings, unresolved operational-creditor claims survive only if the plan expressly preserves them through a defined payment or reservation mechanism.

A recognised stock exchange may refuse an application for admission to list securities or permitted financial products where listing would harm investors' interests or where the issuer fails, or is not expected to comply, with requirements imposed by the Authority or the recognised stock exchange. The mechanism addresses investor protection and issuer compliance.

Entities seeking to list securities or permitted financial products on recognised stock exchanges must execute a listing agreement with the relevant exchange. The agreement must be executed in the form and through the manner specified by that exchange, requiring adherence to exchange-prescribed documentation and procedural requirements for listing.

Issuer-independent trading of securities may be permitted by a recognised stock exchange only with prior approval of the Authority. Trading must comply with the applicable laws of each jurisdiction where the securities are listed, and the recognised stock exchange must ensure clearing and settlement of all trades.

Recognised stock exchanges may, where satisfied on an issuer's application and acting under their internal policy or guidelines, relax specified requirements governing debt-security listing obligations and continuous disclosure. The relaxation is available to supranational, multilateral and statutory institutions, organisations and agencies; entities whose securities are irrevocably guaranteed by a sovereign; and other entities specified from time to time.

Record-date disclosure for debt securities requires an issuer to disclose, in a timely manner, the record date relevant to holders of those securities. Within the listing and continuous disclosure framework, the relevant record date must be timely communicated to affected holders, so that the applicable date is disclosed to persons holding the debt securities.

Credit-rating revisions concerning listed debt securities must be disclosed immediately by the issuer to every recognised stock exchange on which those securities are listed. The obligation applies to any revision in the credit rating of the relevant debt securities and requires prompt exchange disclosure following the revision. It is directed at issuers whose debt securities are listed on the recognised stock exchange or exchanges concerned.

Annual report submission for listed debt securities requires each issuer to provide recognised stock exchange(s) with a copy immediately after finalisation. Submission must occur no later than six months after the end of the relevant financial year. The requirement establishes a continuing disclosure timeline linking the filing obligation to completion of the annual report while imposing an outer deadline measured from financial-year end for issuers.

Financial statement disclosure for debt securities requires an issuer to submit audited annual financial statements to recognised stock exchange(s) immediately after board approval and no later than three months after the end of the financial year. Financial statements must follow IFRS, US GAAP, Ind AS, or applicable home-jurisdiction standards; other home-jurisdiction standards require reconciliation with IFRS.

Issuers of debt securities must immediately disclose material or price-sensitive events to recognised stock exchange(s). Required disclosures include redemption or cancellation, interest-payment details except for fixed-rate debt securities, exercise of buy-back or put options, delays in principal or interest payments, and modifications to issue terms and conditions.

Regulation 115 requires recognised stock exchanges to ensure immediate website dissemination of disclosures made by listed entities. It creates an exchange-level obligation requiring prompt publication and public availability, without delay, of information disclosed by companies with depository receipts listed on recognised stock exchanges under applicable listing obligations and disclosure requirements.

Voting rights of depository receipt holders must be exercised in accordance with the depository agreement governing the relevant depository receipts listed on recognised stock exchanges.

Listed entities having depositary receipts listed on recognised stock exchanges must comply with their home exchange's listing and other rules, and with requirements of the home regulator, where underlying specified securities are listed there. English disclosures must be released to recognised stock exchange(s) simultaneously with their release to the home exchange or home regulator for a primary listing. Further requirements specified by the Authority or recognised stock exchange(s) must also be met.

Listed entities with depository receipts listed on recognised stock exchanges must provide advance intimation of proposed corporate actions concerning the receipts or underlying securities. Where applicable, they must notify the recognised stock exchange of the record date at least three working days in advance and state its purpose.

Change of depository bank by a listed entity having depository receipts listed on recognised stock exchanges requires prior approval from the recognised stock exchange or exchanges. The listed entity must disclose the change to the recognised stock exchange or exchanges within twenty-four hours, combining a pre-change approval requirement with a post-change disclosure obligation.

Listed entities with depository receipts listed on recognised stock exchanges must disclose corporate governance practices in their annual report under relevant home-jurisdiction laws. They must also comply with corporate governance norms specified by the Authority, establishing a dual compliance framework combining home-jurisdiction annual-report disclosure requirements with Authority-prescribed governance standards applicable to such listed entities.

Each listed entity must submit its shareholding pattern to the recognised stock exchange or exchanges in the format specified by the Authority or the relevant exchange. The filing is required quarterly and must be completed within fifteen working days after the end of each quarter.