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Sebi Listing Agreement Clause 41

In the event of non-compliance with certain provisions of the listing agreement, securities and Exchange Board of India (SEBI) empties its circular no CIR/MRD/DSA/31/2013 of September 30, 2013 has implemented the following: In accordance with Article 41 of the listing agreement, each company submits to the stock exchange quarterly, annual and annual financial results as stipulated by the clause. (i) „uniform fine structure“ in the event of non-compliance with certain clauses of the rating agreement 4. The current provisions of the listing agreement require companies to provide details of audit qualifications and, in the case of audit qualifications, the exchanges invite companies to declare that the SEBI Accounting Standards Committee (ASC) has been established as a standing committee chaired by Shri Y H Malegam, in particular to verify the continuous disclosure obligations of listed companies. The Committee addressed issues related to advertising by listed companies regarding loans/advances and investments, disclosure of qualifications and audit measures, current advertising obligations under the listing agreement, etc., and made the following recommendations:- It was decided to amend Clause 32 of the rating agreement to include the additional advertising obligations mentioned above. It is recommended that the exchanges amend the listing agreement accordingly and confirm compliance with these provisions without delay. Currently, only the half-yearly results of publicly traded companies are subject to limited review by auditors. It was decided to amend Section 41 of the rating agreement so that unaudited quarterly results would also be subject to limited review of bitter quarters or ended after June 30, 2003. All other provisions of section 41 relating to the restricted semi-annual review now apply to the limited review of unaudited quarterly results. Trade suspensions are made if the entity does not comply with Clause 41 of the listing agreement with respect to the presentation of financial results for two consecutive quarters. Financial results covered by Clause 41 of the listing agreement for the quarter 2014 ended December 31, 2014 If a publicly traded company commits, within a fortnight from the date of the notice of market, two successive defaults pursuant to clause 41 of the listing agreement, the relevant exchange moves the scrip of listed companies to the „Z“ category in addition to the fine referred to above. In accordance with Article 41 of the listing agreement, each company submits quarterly, annual and annual broadcast results to the stock exchange in accordance with the provisions of the clause. In the event of non-compliance with certain provisions of the listing agreement, the Securities and Exchange Board of India (SEBI) has implemented its circular no CIR/MRD/DSA/31/2013 of 30 September 2013: the suspension of trading is carried out if the entity does not comply with clause 41 of the listing agreement with respect to the presentation of financial results for two consecutive quarters. If, within two weeks of the date of the notice of the market, a listed company commits two successive defaults under item 41 of the listing agreement, the exchange concerned, in addition to the imposition of the fine, postpones the scrip of companies listed in the „Z“ category, in addition to the imposition of the fine, as noted above.

If article 41 is not complied with, it is a criminal offence and contrary to the provisions of the list agreement.