TaxTMI 
TaxTMI 
Amendments to the Equity Listing Agreement
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....in exercise of powers conferred by sub-section (1) of Section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 2. The full text of amendments is given at Annexure A and the brief of the amendments are as under: (A) Uniform procedure for dealing with unclaimed shares - Insertion of clause 5A It has been brought to the notice of the Board that there is a large quantum of shares issued pursuant to the public issues, which remain unclaimed despite the best efforts of the Registrar to Issue or Issuers and that there is no uniform practice for dealing with such shares. It has been decided to provide a uniform....
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....been reduced to 7 working days and for board meeting has been reduced to 2 working days. (C) Uniformity in dividend declaration - Insertion of clause 20A It has been decided to mandate that listed companies shall declare their dividend on per share basis only. This is expected to bring uniformity in the manner of declaring dividend amongst the listed companies. (D) Shareholding pattern for each class of shares and voting rights pattern - Amendment to clause 35 It is clarified that clause 35 of the listing agreement which gives a format for disclosures of shareholding pattern, is required to be given for each class of security separately. Further, it has been decided to amend clause 35 to provide an additional format for disclosures of v....
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.... account. (c) The issuer shall maintain details of shareholding of each individual allottee whose shares are credited to such suspense account. (d) As and when the allottee approaches the issuer, the issuer shall credit the shares lying in the suspense account to the demat account of the allottee to the extent of the allottee's entitlement after proper verification of the identity of the allottee. (e) The suspense account shall be held by the issuer purely on behalf of the allottees who are entitled for the shares and the shares held in such suspense account shall not be transferred in any manner whatsoever except for the purpose of allotting the shares to the allottee as and when he/she approaches the issuer. (f) The voting rights ....
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....ted; (d) The proviso "Provided that for the purpose of issue of right ……….other recognized Stock Exchange as well." shall be deleted ; (e) In last paragraph, the words "30 days" appearing after the words "a notice period of" and before the words "to the Exchanges for" shall be substituted by "atleast 7 working days". 3. In clause 19: (a) In sub-clause (a): (i) the words "at least 7 days" appearing after the words "issuer will notify exchange" and before "in advance of the date" shall be substituted by "at least 2 working days"; and (ii) the words "or the issue of right" shall be inserted after the words "the passing over of the dividend" and before the words "is due to be considered"; (iii) the proviso to s....