PROPOSED CHANGES TO CLAUSE 49 OF THE LISTING AGREEMENT

 

The extant Clause 49 of the listing agreement, after taking into account the recommendations of the Narayana Murthy Committee came into effect on January 1, 2006. Since the coming into effect of the revised Clause 49, SEBI has received comments from various quarters - the public, the corporate and industry associations suggesting amendments to certain provisions of Clause 49. The various suggestions received along with SEBI’s views were placed before the Primary Market Advisory Committee (PMAC) in their meeting held on December 4, 2006. After taking into account the views of the PMAC, the revised changes proposed to Clause 49 are placed herewith for public comments for a period of 21 days i.e. from 12/03/2007 to 02/04/2007.

 

Comments/suggestions on the same may be sent to Mr.Parag Basu, Deputy General Manager, Division of issues and listing, SEBI or to Mr Pradeep Ramakrishnan, Manager, Division of Issues & Listing