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Clause 40A Of Listing Agreement

In its report of 18 January 1997, the Justice Bhagwati Committee on Substantial Acquisition of Shares and Takeovers recommended that clauses 40A and B of the listing agreement could be replaced by a clause requiring compliance with the SEBI (Substantial Acquisition of Shares & Takeover) Regulations of 1997, notified on 20 February 1997. To give effect to the foregoing, clauses 40A&B of the stock exchange listing agreement must be amended accordingly. It is therefore recommended that you make the following changes to the listing agreement of the Exchange. Most jurisdictions regulate different aspects of corporate governance and advertising for publicly traded companies through publicly traded listing requirements. These only apply to publicly traded companies and are applied by the stock markets.

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