TaxTMI 
TaxTMI 
Requirements with respect to the listing of securities on a recognised stock exchange
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....sh bonuses, if any, paid during the 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 ....
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....but shall not entitle the holder of the share to participate in respect thereof, in a dividend subsequently declared, (iv) there will be no forfeiture of unclaimed dividends before the 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. ^18[(b) The minimum offer and allotment to the 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 debentures convertible into equity shares issued by the company, if the post issue capital of the company calculated at the 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 e....
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....housand crore rupees and at least one per cent of each such class or kind of equity shares or debentures convertible into equity shares issued by the company, if the post issue capital of the company calculated at the offer price is above five lakh crore rupees: Provided that where the public shareholding of the company referred to in sub-clauses (v) and (vi) at the time of listing is less than fifteen per cent, the company shall increase its public shareholding to at least fifteen per cent within a period of five years and to at least twenty-five per cent within a period of ten years, from the date of listing of its securities, in the manner as may be specified by the Securities and Exchange Board of India: Provided further that where the public shareholding of the company referred to in sub-clauses (v) and (vi) at the time of listing is fifteen per cent or above, the company shall increase its public shareholding to at least twenty-five per cent within a period of five years from the date of listing of the securities, in the manner as may be specified by the Securities and Exchange Board of India; (vii) notwithstanding anything contained in sub-clause (....
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.... 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 required, receipts for all securities deposited with it whether for registration, sub-division, exchange or for other purposes ; and not to charge any fees for registration of transfers, for sub-division and consolidation of certificates and for sub-division of letters of allotment, renounceable letters of right, and split, consolidation, renewal and transfer receipts into denominations of the market unit of trading; (bb) to issue, when so required, consolidation and renewal certificates in denominations of the market unit of trading to s....
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....e 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 and extraordinary general meetings of the company and to file with the stock exchange certified copies of resolutions of the company as soon as such resolutions become effective; (l) to notify the stock exchange prior to intimating the shareholders of any new issue of securities whether by way of right, privilege bonus or otherwise and the manner in which it is proposed to offer or allot the same; (m) to notify the stock exchange in the ....
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.... 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 a company if such class or kind of securities of the company are already listed on a recognised stock exchange.] (5) A recognised stock exchange may suspend or withdraw admission to dealings in the securities of a company or body corporate either for a breach of or non-compliance with, any of the conditions of admission to dealings or for any other reason, to be reco....
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....ities and Exchange Board of India in this regard.] ************* NOTES:- 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 by the company was offered and allotted to public in terms of an offer document; or (ii) At least ten per cent of each class or kind of equity shares or debentures convertible into equity shares issued by the company was ofered and allotted to public in terms of an offer document if the post issue capital of the company calculated at offer price is mo....
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....d 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 Securities Contracts (Regulations)(Amendment) Rules, 2010, w.e.f. 04.06.2010 and GSR 121(E) w.e.f. 09.03.1995, read as under: "(6A) All the requirements with respect to listing and continuous listing prescribed by these rules, shall so far as they may be, also apply to a body corporate constituted by an Act of Parliament or any State Legisl....
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....ated at offer price is above four thousand crore rupees ^14[but less than or equal to one lakh crore rupees]: ^15[(iv) 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 five thousand crore rupees and at least five per cent of each such 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 above one lakh crore rupees; Provided that the company referred to in this sub-clause (iv) shall increase its public shareholding to at least ten per cent within a period of two years and at least twenty-five per cent. within a period of five years, from the date of listing of the securities, in the manner specified by the Securities and Exchange Board of India;] Provided that the company referred to in sub-clause (ii) or sub-clause (iii), shall increase its public shareholding to at least twenty five per cent within a period of three years from the date of listing of the securities, in the manner specified by the Securities and Exchange Board of India:....