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    <title>SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS &amp; DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 – HIGHLIGHTS AND ANALYSIS</title>
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    <description>The Listing Regulations consolidate prior listing agreements into a unified framework requiring all listed entities to execute a Uniform Listing Agreement, implement electronic filing and investor service infrastructure, appoint a qualified Company Secretary as Compliance Officer, adopt Board approved Policies for Preservation of Documents and Materiality Determination, provide periodic compliance certificates and investor complaint statements, and ensure electronic payment mechanisms where practicable. Equity/convertible issuers must broaden audit committee review to include modified opinions, obtain shareholder approval for continuing material related party arrangements and reclassification of promoters, promptly disclose Board approved financial results, and publish expanded disclosures including risk and subsidiary events. Debt issuers face specified intimation, reporting, asset cover, rating review and debenture trustee disclosure requirements.</description>
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      <description>The Listing Regulations consolidate prior listing agreements into a unified framework requiring all listed entities to execute a Uniform Listing Agreement, implement electronic filing and investor service infrastructure, appoint a qualified Company Secretary as Compliance Officer, adopt Board approved Policies for Preservation of Documents and Materiality Determination, provide periodic compliance certificates and investor complaint statements, and ensure electronic payment mechanisms where practicable. Equity/convertible issuers must broaden audit committee review to include modified opinions, obtain shareholder approval for continuing material related party arrangements and reclassification of promoters, promptly disclose Board approved financial results, and publish expanded disclosures including risk and subsidiary events. Debt issuers face specified intimation, reporting, asset cover, rating review and debenture trustee disclosure requirements.</description>
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