PR No.91/2007
SEBI seeks public comments on “Proposed changes to Clause 49”
The extant Clause 49 of the Listing Agreement, after taking into account the recommendations of the Narayana Murthy Committee came into effect on January 01, 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 04, 2006. After taking into account the views of the PMAC, the revised changes proposed to Clause 49 have been placed for public comments on SEBI’s website www.sebi.gov.in under the heading “Proposed changes to Clause 49” in the sub-section “Reports for Public Comments” in section “Reports/ Documents” for a period of 21 days i.e. from March 12, 2007 to April 02, 2007.
Comments / suggestions on the same may be sent to Mr. Parag BasuDeputy General Manager, Division of Issues and Listing, SEBI or to Mr. Pradeep Ramakrishnan, Manager, Division of Issues and Listing or emailed to paragb@sebi.gov.in / pradeepr@sebi.gov.in or faxed to 91-22-26449016 on or before April 02, 2007.
Mumbai
March 09, 2007