Vinod Kothari Vinod Kothari Consultants P. Ltd.

Size: px
Start display at page:

Download "Vinod Kothari Vinod Kothari Consultants P. Ltd."

Transcription

1 SEBI (LODR) Regulations, 2015 & SEBI (PIT) Regulations, 2015 Vinod Kothari Vinod Kothari Consultants P. Ltd Krishna Building 224 AJC Bose Road Kolkata Phone / / C, Neelkanth 98 Marine Drive Mumbai Phone

2 2 Copyright The presentation is a property of Vinod Kothari Consultants Private Limited. No part of it can be copied, reproduced or distributed in any manner, without explicit prior permission. In case of linking, please do give credit and full link

3 3 About Us Vinod Kothari Consultants P. Ltd., Based in Kolkata, Mumbai We are a team of consultants, advisors & qualified professionals having recently completed 25 years of practice. Our Organization s Credo: Focus on capabilities; opportunities follow

4 Scope, Applicability etc. 4

5 5 Highlights Quick highlights: Consolidation of listing requirements Consummation of previous discussion papers Discussion paper on materiality: Sept Discussion paper on promoter and promoter group onboarding and offboarding: Jan 2015: Comes into effect from 90 th day from date of publication That is, from 1 st Dec, 2015 However, following changes effected immediately Substitution of Ordinary Resolution in place of Special Resolution for material RPTs Provisions related to disclosure of Promoter shareholding and conditions for reclassification

6 Applicability.. 6 Listed entity, whose any of the following designated securities are listed on recognised stock exchange(s): Specified securities listed on main board or SME Exchange or institutional trading platform; Non-convertible debt securities Non-convertible redeemable preference shares Perpetual debt instrument Perpetual non-cumulative preference shares Indian depository receipts Securitized debt instruments Units issued by mutual funds any other securities as may be specified by the Board.

7 7 Statutory basis With the LODR Regulations, the listing agreement gets its own statutory backing Prior to this, the LA was merely an agreement between the exchange and the company

8 8 Principles governing disclosures and obligations

9 9 Principles applicable to every listed entity Implement the prescribed accounting standards in letter and spirit Refrain from misrepresentation Adequate and timely information to recognised stock exchange(s) and investors Accounting standards to be adhered to: AS-3/ Ind AS 7 for cash flow statement AS- 5/ Ind AS- 8 for disclosure of change in accounting policies/ net profit or loss for the period, prior period items AS -25/ Ind AS-34- Internal Financial reporting AS- 17/ Ind AS for segment reporting AS-18 for related party disclosure May also follow IFRS for submission of financial statements Annual audit to be conducted by an independent, competent and qualified auditor Equal, timely and cost efficient access of relevant information Event based or periodic filings, reports, statements etc. shall contain relevant information These provisions are not imbibed in the present listing agreement

10 Overarching principles of listing obligations and disclosure 10 Primarily, obligations of listed entities are two: Obligations to comply Obligations pertaining to disclosure Reg 4 provides the general principles of disclosure and listing obligations New provision By Reg 4 (3), this regulation has an overriding force Contents of reg 4 are by and large general Of course, there is a repeated reference to compliance in letter and spirit

11 11 Principles to be followed by listed entity having its specified securities listed Reg 4 (2) pertains to specified securities only Compliance with corporate governance provisions to achieve the principles of Rights of shareholders Timely information Equitable treatment of shareholders Role of stakeholders in corporate governance Disclosure and transparency Responsibilities of the board of directors

12 Key functions of board of directors 1/2 Disclosure of information by directors and KMPs of direct/ indirect material transaction Reviewing and guiding corporate strategy, major plans of action, risk policy, annual budgets and business plans, setting performance objectives, monitoring implementation and corporate performance, and overseeing major capital expenditures, acquisitions and divestments Monitoring the effectiveness governance practices and making changes Selecting, compensating, monitoring and replacing KMPs and overseeing succession planning Aligning remuneration of KMPs and of board with the longer term interests of the entity and its shareholders Ensuring a transparent nomination process of directors with the diversity of thought, experience, knowledge, perspective and gender in the board of directors Monitoring and managing potential conflicts of interest of management, members of the board of directors and shareholders, including misuse of corporate assets and abuse in related party transactions 12

13 13 Key functions of board of directors 2/2 Ensuring the integrity of accounting and financial reporting systems independent audit appropriate systems of control in place appropriate systems of control are in place financial and operational control compliance with the law and relevant standards Overseeing the process of disclosure and communications Monitoring and reviewing board of director s evaluation framework provide strategic guidance to ensure effective monitoring of the management

14 14 Chap III-Common Obligations of Listed Entities

15 15 Common Obligations-1/4 KMP/Directors/promoters/any other person dealing with the listed entity comply with responsibilities or obligations as prescribed under the LODR New provision Burden of compliance is on KMPs, directors and promoters or any other person If obligations assigned to them Reg 5 Compliance obligation on the CS Not clear who could be the other person Compliance Officer and his Obligations- Reg 6 Qualified Company Secretary as the compliance officer Responsible for Ensuring conformity with the regulatory provisions Co-ordination with and reporting to the Board, recognised stock exchange(s) and depositories the compliance with rules, regulations and other directives of these authorities Ensuring that the correct procedures have been followed in filing monitoring address of grievance redressal division Similar to the old provisions provided under Equity Listing Agreement, Debt Listing Agreement, SME Listing Agreement etc.

16 Common Obligations-2/4 16 Appointment of Share Transfer Agent- Reg 7 Mandatory if total number of security holders exceeds one lakh Other wise the listed entity shall have to be registered with the Board Ensuring all activities in relation share transfer facility are maintained either in house or by Registrar to an issue and share transfer agent Half yearly Compliance Certificate with regard to compliance of the above with stock exchange New provision Within 1 month of end of half year Change of agent only through agreement New appointment to be intimated within 7 days Submission of information to securities intermediaries Reg 8 New provision Company shall submit regular information to intermediaries Intermediaries include rating agencies Policy on Preservation of documents - Reg 9 New requirement Approved by BoD This is a new policy

17 17 Common Obligations-3/4 Filing of information with recognise stock exchange in electronic platform- Reg 10 New provision Proposed scheme of arrangements etc. not to vilolate, override, limit the provisions of securities laws and requirements of Ses- Reg 11 Not applicable for units issued by listed mutual funds Electronic payment of dividend /interest /redemption /repayment amounts- Reg 12 New provision RTA to maintain bank details of investors Payable-at-par warrants or cheques may be issued If dividend is more than Rs to be sent by speed post Obligatory to print bank a/c details on payment warrant

18 18 Common Obligations-4/4 Grievance Redressal Mechanism Reg 13 Mandatory registration with SCORES platform or other electronic platform or system of the Board Filing of quarterly statement with respect to- number of pending investors complaints at the beginning and ending of the quarter Complaints received and disposed and remained unresolved within 21 days of the end of the quarter Earlier the same was provided under CG Report in Annual Report and with financial results

19 19 Chap IV-Obligations applicable in case of listing of specified securities

20 Scope Obligations applicable for specified securities 20 Equity shares and convertible securities Listed on Main Board, SME Exchange or ITP Similar exemptions as earlier - Listed entities having paid up equity share capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore, as on the last day of the previous financial year. Listed entities which have listed its specified securities on the SME Exchange Body corporates other than companies however is not exempted although listed in SME Exchange which is a new requirement.

21 Exemptions to small and SME listed companies 21 Regulations exempted- 17-Composition of BoD 18-Audit Committee 19-NRC 20-SRC 21-Risk Management Committee 22- Vigil Mechanism 23-RPTs 24-CG requirement with respect to subsidiaries 25- Obligations w.r.t to IDs 26-Obligations w.r.t Directors and senior mgmt 27- other corporate governance requirements

22 22 Definitions pertinent to corporate governance- 1/3 Definition of control Same as SAST right to appoint majority of the directors, or to control the management or to control policy decisions directly or indirectly by virtue of shareholding or mgmt rights or shareholders agreement or by voting agreements Similar to CA

23 Definitions pertinent to corporate governance- 2/3 23 ID means- NED other than nominee director Not a promoter of the entity/holding/ Sub/Associate Not related to the promoters of aforesaid No material pecuniary relationship with the entity its H/S/A & their promoters/ directors Two immediately preceding FYs and the current Year No relative has/ had pecuniary relationship/ transaction with the entity/h/s/a/ promoters/directors Amounting 2% or more of gross turnover/total income 50 lacs- lower, during two immediately preceding FYs and the current Year Neither himself nor his relatives is or has been KMP or employee of the entity/ H/S/A in 3 immediately preceding FYs Employee/ proprietor/partner in any 3 immediately preceding FY s of a audit firm, PCS or cost auditor of the listed entities/ H/S/A or legal consulting firm has / had any transaction with the listed entities/ H/S/A Not holding together with his relatives 2% or more voting powers Not CEO/Director of non profit org receiving 25% or more of its receipts from the entity/promoter/ director/h/s/a or who holds 2% or more total voting power of the entity. Not a material supplier, service provider, customer or lessor or lessee of the entity Not less than 21 years of age

24 Definitions pertinent to corporate governance- 3/3 24 Material subsidiaries- Reg 16 Definition includes all subsidiaries Earlier it was only material non- listed Indian subsidiary whose income or net worth exceeds 20% of the consolidated income or net worth in the immediately preceding accounting year SMPs officers/personnel of the listed entity who are member of core Mgmt. team excluding BoD One level below the Board The word officer has been inserted newly

25 Obligations applicable for specified securities 25 BoD- Reg 17 Optimum combination of executive and non-executive directors At least one woman director Not less than 50% non-executive directors Independent directors Shall meet at least four times a year Board meetings to have maximum time gap of 120 days between any two meetings. Fees and remuneration payable to all NEDs to be approved by shareholders resolution However, sitting fees excluded, if within limits as per CA Shall be responsible for framing, implementing and monitoring the risk management plan for the listed entity Similar to the earlier requirements Reg 17 (9) provides about the company to formulate risk assessment and minimisation plan

26 Obligations Obligations applicable for specified securities Audit committee NRC committee Stakeholders relationship committee 26 Risk management committee Composition minimum 3 directors Two-thirds independent at least three directors All shall be NED Atleast 50 % shall be independent Board shall decide Majority from Board Chairperson Independent director Independent director NED Member of the Board Role and responsibility Part C Schedule II Part D Schedule II Part D Schedule II Board shall define Other Company secretary to act as secretary to the committee Applicable to top 100 listed companies

27 27 Minimum information to be placed before the Board Part A of Schedule II Similar to the details under clause 49

28 28 Audit committee- Reg 18 No change as compared to Clause 49 Mandatory review by Audit Committee- Part C of schedule II quarterly statement of deviation(s) including report of monitoring agency, if applicable, submitted to stock exchange(s) annual statement of funds utilized for purposes other than those stated in the offer document/prospectus/notice This is a new requirement

29 29 Nomination and Remuneration Committee- Reg 19 To see whether to extend or continue the term of appointment of the independent director, on the basis of the report of performance evaluation of independent directors This is new role of NRC Other provisions are similar to the earlier provisions.

30 30 Risk Management Committee- Reg 21 Applicable only to top 100 companies by market capitalisation Reg 21 (5) Not necessarily a committee of the board Majority shall be board members Chairperson to be member of Board Board to determine the role and responsibility

31 Obligations applicable for specified securities 31 Vigil Mechanism- Reg 22- For directors and employees adequate safeguards against victimization of director(s) or employee(s) or any other person direct access to the chairperson of the audit committee

32 32 Related Party Transactions- Reg 23 Related party transactions ( RPT )- Formulation of policy on materiality and on dealing with RPT Material RPT Previous +proposed transaction during FY exceeds 10% of annual consolidated turnover All RPT shall require prior approval of the audit committee Audit committee may grant omnibus approval (reviewed quarterly) Quarterly review of RPTs pursuant to omnibus approval Resolution valid for 1 year Material RPT shall require approval of shareholders Earlier it was Special Resolution Now ordinary resolution All related party to abstain from voting Existing transactions may be continued only after approval of shareholders at the general meeting held after these regulations Exceptions transactions entered into between two government companies; transactions entered into between a holding company and its wholly owned subsidiary whose accounts are consolidated with such holding company and placed before the shareholders at the general meeting for approval.

33 33 Obligations pertaining to material subsidiaries Reg 24 Atleast 1 ID to be director of unlisted indian material subsidiary Audit committee to review the FS In particular investments by such subsidiary minutes of board meetings to be placed before board of the company statement of all significant transactions and arrangements entered into by the unlisted subsidiary to be placed before board of the company any individual transaction or arrangement that exceeds or is likely to exceed 10% of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the unlisted material subsidiary for the immediately preceding accounting year

34 Obligations pertaining to material subsidiaries Reg SR will be required in case of- disposal of shares in its material subsidiary resulting in reduction of its shareholding to less than 50% or cessation of control over the subsidiary Selling, disposing and leasing of assets amounting to more than 20% of the assets of the material subsidiary on an aggregate basis during a financial year In case of chain subsidiaries, if there is an intermediate listed company. such listed intermediate listed company to also comply with the regulations

35 Obligations pertaining to independent directors Reg In case of resignation/ removal of ID Replacement at the next Board meeting or 3 months, later CA provides for 180 days Other provisions are similar

36 Obligations applicable to directors Reg Member in not more than ten committees Chairperson of not more than five committees across all listed entities in which he is a director Chairpersonship and membership of the audit committee and the Stakeholders Relationship Committee shall be considered determination of limit Disclosures to the board relating to all material, financial and commercial transactions, where there personal interest NEDs to disclose their shareholding held directly or on behalf of others and the same shall be inserted in the notice of general meeting. Similar to the earlier provisions

37 Obligations applicable to senior management Reg Disclosure to BoD with regard to material, financial and commercial transactions having personal interest that may have a potential conflict with the interest of the listed entity conflict of interest relates to dealing in the shares of listed entity; commercial dealings with bodies, which have shareholding of management and their relatives etc.

38 Senior Management Personnel 38 KMPs Chairman Whole Time Director Managing Director Whole Time Director HoD1 HoD2 HoD3 SMPs

39 Compliance Report- Reg Listed entity shall submit a quarterly, first half yearly and annual compliance report on corporate governance within fifteen days from close of the quarter other than Listed entities having paid up equity share capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore, as on the last day of the previous financial year. Listed entities which have listed its specified securities on the SME Exchange Body corporates other than companies however is not exempted even if listed in SME Exchange which is a new requirement

40 40 Compliance Report contents Quarterly report detailed report details about the board of directors, committees (viz audit committee, nomination & remuneration committee, risk management committee and stakeholders relationship committee), and meetings of board and committees have to be disclosed. Regarding compliance of related party transactions details have to be annexed with the compliance report. First half yearly report Yes/No/N.A report of compliance in relation to annual general meeting Annual report - Yes/No/N.A report of annual affirmations of compliance and disclosure on website in terms of the Listing Regulations

41 41 Singing of Compliance Report Signed by Compliance officer or the CEO of the company Where the regulation empowers the compliance officer/ CEO to sign the compliance report of corporate governance, the format prescribed for the same additionally empowers the MD to sign the report

42 Comparison of CG Report 42 Points of difference Existing under Agreement Format Listing Format under Listing Regulations Periodicity Quarterly Quarterly, First Half yearly and Annually Type Yes/No/N.A report Quarterly report detailed report details about the board of directors, committees (viz audit committee, nomination & remuneration committee, risk management committee and stakeholders relationship committee), and meetings of board and committees have to be disclosed. Regarding compliance of related party transactions details have to be annexed with the compliance report. First half yearly report Yes/No/N.A report of compliance in relation to annual general meeting. Annual report - Yes/No/N.A report of annual affirmations of compliance and disclosure on website in terms of the Listing Regulations Signed by Compliance officer or the CEO of the company Where the regulation empowers the compliance officer/ CEO to sign the compliance report of corporate governance, the format prescribed for the same additionally empowers the MD to sign the report

43 In-principle approval Reg Before issuing securities where the securities are listed only on recognised stock exchange(s) having nationwide trading terminals, from all such stock exchange(s) If not listed on any recognised stock exchange having nationwide trading terminals, from all the stock exchange(s) in which the securities of the issuer are proposed to be listed If listed on recognised stock exchange(s) having nationwide trading terminals as well as on the recognised stock exchange(s) not having nationwide trading terminals, from all recognised stock exchange(s) having nationwide trading terminals Not required if securities issued pursuant to the scheme of arrangement for which No-Objection Letter from recognised stock exchange(s) already received

44 44 Prior intimations Reg 29-1/2 Meeting of Board held for following matters financial results viz. quarterly, half yearly, or annual 5 days in advance Earlier it was 7 days proposal for buyback of securities; proposal for voluntary delisting fund raising by way of further public offer, rights issue, IDR, GDR, FCCB, QIPs, Debt Issue, Preferential issue, any other method and for determination of issue price, declaration/recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend declaration of bonus securities if included in agenda At least 2 working days in advance AGM / EGM/ postal ballot for approval for further fund raising indicating type of issuance

45 45 Prior intimations Reg 29-2/2 Atleast 11 working days in advance New requirement any alteration in the form or nature of any of its securities that are listed on the stock exchange or in the rights or privileges of the holders thereof any alteration in the date on which, the interest on debentures or bonds, or the redemption amount of redeemable shares or of debentures or bonds, shall be payable

46 Material Events- Reg 30 46

47 47 Disclosure of material events Evidently, one of the most important parts of the LODR Regulations Global view IOSCO principles on Ongoing Disclosures and Material Developments Reporting by Listed Entities Para of NYSE Listing guidance 3_2_6&manual=%2Flcm%2Fsections%2Flcm-sections%2F Australian Stock Exchange Guidance note no 8 FSA UK s Disclosure and Transparency Rules Are there any quantitative norms available? The key question to be asked is, when is the information material? Generally, estimated impact of 10% or more is considered material Impact of 5% or less is considered non material ASIC guidance in Para 8.7 of Guidance Note no 8 The 10%/ 5% rules are rules of thumb regulators have generally denied them but the rule can be practically handy Also, in Hutchison v. Deutsche Bank Securities Inc., 647 F.3d 479 (2d Cir. 2011), US court held materiality is to be tested based on aggregate assets of issuer, not equity value

48 Rulings on meaning of material information The question of whether an information disclosed/not disclosed was material has agitated minds of lawmakers/companies all over the world Several rulings exist from different parts of the world The canonical rule of materiality in TSC Industries, Inc. v. Northway, Inc., 426 U.S. 438 (1976). there must be a substantial likelihood that the disclosure of the omitted fact would have been viewed by the reasonable investor as having significantly altered the total mix of information made available Australia ruling in Jubilee Mines NL v Riley Australian ruling James Hardie Industries NV v ASIC Singapore ruling in Airocean 48

49 Approaches to disclosure of material information 49 Two approaches General guidance approach Prescriptive approach Deemed material events Illustrative events, but to be tested on the benchmark of materiality

50 50 Types of materiality Deemed material Part A of Schedule III Material based on application of guidelines Part B of Schedule III, read with Reg 30 (4) Guidance of SEBI vide 9 Sept 2015 Implications of materiality Intimation to stock exchange within 24 hours If based on board meeting results, then within 30 min Put material developments on website Keep the same for 5 years Continue to provide updates of material developments on such events Question of closure of trading window may also arise Formulation of policy on materiality The Board shall authorise one of the KMPs to determine materiality Disclosures required for material subsidiaries as well Response to rumours Reg 30 (11) allows the company the option to confirm or deny rumours about material developments

51 Material event 51 An event occurred Whether covered under Part A of Sch. III Yes No No Whether covered under Part B of Sch. III No disclosure to be made Yes Apply significant price sensitivity test or any change/ discontinuance of existing significant price sensitive information earlier disclosed No Yes Whether the information is significant Disclosure to be made

52 Events- Deemed to be material-1/4 Acquisition(s) (including agreement to acquire) Scheme of Arrangement (amalgamation/ merger/ demerger/restructuring), sale or disposal of any unit(s), division(s) or subsidiary of the Company any other restructuring issuance or forfeiture of securities split or consolidation of shares buyback of securities any restriction on transferability of securities or alteration in terms structure of existing securities including forfeiture, reissue of forfeited securities, alteration of calls, redemption of securities etc. 52

53 53 Events- Deemed to be material-2/4 Outcome of Meetings of the board of directors held for discussing- declaration of dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched any cancellation of dividend with reasons thereof the decision on buyback of securities the decision with respect to fund raising proposed to be undertaken increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to; short particulars of any other alterations of capital, including calls; financial results; To be disclosed within 30 minutes of conclusion of the meeting

54 54 Events- Deemed to be material-3/4 Agreements- joint venture agreement(s), family settlement agreement(s) (to the extent that it impacts management and control of the Company), agreement(s)/treaty (ies)/contract(s) with media companies) which are binding and not in normal course of business, revision(s) or amendment(s) and termination(s) thereof. Revision in Rating(s) Fraud/defaults by promoter or key managerial personnel or by Company or arrest of key managerial personnel or promoter. Change in directors, key managerial personnel, Auditor and Compliance Officer. Appointment or discontinuation of share transfer agent. Corporate debt restructuring. One time settlement with a bank Reference to BIFR and winding-up petition filed by any party / creditors.

55 55 Events- Deemed to be material-4/4 Issuance of Notices, call letters, resolutions and circulars sent to shareholders, debenture holders or creditors or any class of them or advertised in the media by the Company. Proceedings of Annual and extraordinary general meetings of the Company. Amendments to memorandum and articles of association of Company, in brief. Schedule of Analyst or institutional investor meet and presentations on financial results made by the Company to analysts or institutional investors

56 Material events subject to the Guidance prescribed 56 the omission of an event or information, which is likely to result in discontinuity or alteration of event or information already available publicly; or the omission of an event or information is likely to result in significant market reaction if the said omission came to light at a later date; or In case where the criteria specified in sub-clauses (a) and (b) are not applicable, an event/information may be treated as being material if in the opinion of the board of directors of Company, the event / information is considered material

57 Guidance to consider an event as Material-1/2 57 Commencement or any postponement in the date of commencement of commercial production or commercial operations of any unit/division. Change in the general character or nature of business brought about either in entirety or piecemeal Capacity addition or product launch. Awarding, bagging/ receiving, amendment or termination of awarded/bagged orders/contracts not in the normal course of business. Agreements (viz. loan agreement(s) (as a borrower) or any other agreement(s) which are binding and not in normal course of business) and revision(s) or amendment(s) or termination(s) thereof.

58 Guidance to consider an event as Material-2/2 58 Disruption of operations of any one or more units or division of the Company due to natural calamity (earthquake, flood, fire etc.), force majeure or events such as strikes, lockouts etc. Effect(s) arising out of change in the regulatory framework applicable to the Company Litigation(s) / dispute(s) / regulatory action(s) with impact. Fraud/defaults etc. by directors (other than key managerial personnel) or employees of Company. Options to purchase securities including any ESOP/ESPS Scheme. Giving of guarantees or indemnity or becoming a surety for any third party. Granting, withdrawal, surrender, cancellation or suspension of key licenses or regulatory approvals. Any event likely to affect business

59 Time limit and other administrative measure Administrative Measures 59 The board of directors to authorize one or more Key Managerial Personnel for the purpose of determining materiality of an event or information. The contact details of such personnel shall be also disclosed to the stock exchange(s) and as well as on the listed entity's website Policy on determination of materiality is a new requirement Disclosure to the Stock exchange Not later than twenty four hours from the occurrence of the event or information In case Board Meeting held for discussion of prescribed items- Within 30 minutes of conclusion

60 Guidance on when an event/information is deemed to be occurred upon receipt of approval of Board of Directors In certain events/information after receipt of approval of both i.e. Board of Directors and Shareholders The events/ information in the nature of price sensitive nature on receipt of approval of the event by the Board of Directors, pending Shareholder s approval In the events/information such as natural calamities, disruption etc. can be said to have occurred when the Company becomes aware of. 60

61 Filing of shareholding pattern Reg 31 Statement showing holding of securities and shareholding pattern separately for each class of securities shall be submitted to the Stock exchange 1 day prior to listing of its securities on the stock exchange(s); on a quarterly basis, within 21 days from the end of each quarter; and, within 10 days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital Exception : Listed entities which have listed their specified securities on SME Exchange, the statements shall be submitted on a half yearly basis within 21 days from the end of each half year 61

62 62 Re-classification of Promoter Holdings- Reg 31A

63 63 Promoter Person who are in control Persons instrumental in the formation of a plan/programme/ pursuant to which securities are offered to public Persons named in the offer document Following persons shall not be deemed promoter- 1. Persons acting in mere professional capacity 2. FIs, FPIs, MFs & Scheduled Banks merely holding atleast 10% of equity cap of the issuer.

64 64 Promoter Group Promoter Promoter Body Corporate (PBC) Promoter Individual ( X ) Subsidiary Companies Holding Companies Body corporate in which PBC holds atleast 10% of equity share capital Fellow Associates of PBC Body corporate which holds atleast 10% equity share capital in PBC Body corporate ( Y ) in which X / HUF/Firm (where X is a member) holds atleast 10% equity share capital Body Corporate ( Z ) where Y holds atleast 10% equity share capital Immediate relatives = Parents, Siblings, Spouse and Children (including step children) Fellow associates = Any body corporate where group of individuals/companies/combination thereof holds 20% or more eq. sh. capital in such body corporate and also the PBC HUF/Firm where the aggregate holding of X is atleast 10%

65 Promoter holdings- Reg 31A 65 New requirement Reclassification of promoters pursuant to Transmission/ Inheritance Open Offer Company becoming professionally managed Listed entity shall ensure that 100 percent of shareholding of promoter(s) and promoter group is in dematerialized form The shareholding shall be maintained on a continuous basis in the manner as specified by the Board Note This was not required earlier in the Listing Agreement.

66 Re-classification of shareholding of promoters and promoters group 66 Promoters and Promoters group to disclose shareholding separately Approval of SE requires before any modification / re-classification In case of transmission etc. the successor to be classified as promoter

67 67 Replacement of outgoing promoter Approval of Shareholders Not more than 10% of the paid up equity capital shall be held by the outgoing promoter along with PAC & Promoter group Shall not continue to have any special rights All agreements granting shareholders special rights shall be terminated The outgoing promoter and his relatives shall not act as a KMP for more than 3 years from the date of shareholders approval Resolution to specifically approve

68 Re- classification of promoter shareholding as public 68 In case of professionally managed companies- No group can hold more than 1%. Shall not directly or indirectly, exercise control Increase in the level of public shareholding pursuant to re-classification shall not be counted for compliance with minimum public shareholding as per SCRA The event of re-classification to be disclosed to SE Board may relax conditions

69 69 Deviations from use of proceeds of public issue, rights issue, preferential issue etc. Reg 32

70 Deviations from use of proceeds of issues- 1/2 Applicable for public issue, rights issue, preferential issue etc. Quarterly submission of report indicating deviations in the use of proceeds from the objects stated in the offer document or explanatory statement to the notice for the general meeting, as applicable; indicating category wise variation (capital expenditure, sales and marketing, working capital etc.) between projected and the actual utilization of funds 70

71 Deviations from use of proceeds of issues- 2/2 71 Continue reporting till fully utilized Statement to be placed before audit committee before submission Explanation for the variation in directors report Preparation of annual statement of funds utilized for purposes other than those stated in the offer document/prospectus/notice certified by Statutory auditor placing it before the audit committee till such time the full money utilized Submission of report of monitoring agency Placing of such report before audit committee annually

72 Financial Statements- Reg 33 72

73 73 Financial statements power to approve financial results is only with the board of directors General practice of committee approval before Board Limited review report to be place before Board option for submission of quarterly consolidated results intimation shall be given in first quarter of FY. disclosures pertaining to investor complaints and explanation of reasons for variations etc. is not required to disclose in financial results Audit report with modified opinion and the accompanying annual audit report shall be reviewed by the stock exchange(s) and Qualified Audit Report Review Committee

74 74 Interim financial statements Quarterly financial statements to comply with AS 25 or IndAS 34 Form A (for unmodified opinion)/ B (for modified opinion) to be submitted along with annual results (standalone as well as consolidated) Last quarter figure (audited) are balancing figure between 3 rd Y-T-D and Annual results The requirement was there in LA as well

75 Miscellaneous provisions 75

76 76 Requirements for annual report & AIM Reg 34 & 35 Annual report to be submitted within 21 days of adoption at AGM New requirement Similar disclosures as earlier provided under CA and listing agreement BRR is applicable to top 100 listed companies as on March 31 every financial year. Annual Information Memorandum to be submitted as specified by SEBI. New requirement

77 Disclosures on appointment & reappointment of directors- Reg Disclosures to the shareholders brief resume of the director nature of his expertise in specific functional areas disclosure of relationships between directors inter-se names of listed entities in which the person also holds the directorship and the membership of Committees of the board Earlier it was for all companies shareholding of non-executive directors

78 78 Schemes of arrangement Reg 37 Draft schemes to be filed with SEs for observation before filing with court etc. Filing with court only after observation from SEs Such letter to be placed before authority Validity of observation letter is 6 months Submission of documents with SEs after sanction of the scheme

79 79 Certificate for split/ consolidation of securities- Reg 39 Issue of certificate within 30 days of lodgment Earlier it was 6 weeks Compliance of procedural requirements may be delegated to RTA

80 80 Transfers Reg 40-1/2 Detailed procedures with timelines has been prescribed for transfer/ transmission/ transposition of securities Board may delegate the power to transfer to a committee or to compliance officer or to the registrar to an issue and/or share transfer agent Delegated authority to place report on transfer of securities to the board of directors in each meeting Registration of Transfer within 15 days Otherwise to compensate the aggrieved party Transmission for securities held in dematerialized mode within 7 days Transmission for physical securities- within 21 days Record to be maintained No registration in case of any statutory restriction If transferor objects and within 60 days of objection place any prohibitory order Indebtedness of transferor is not a valid ground to reject transfer In case of delay in transfer the company has to compensate to aggrieved party and any claim / dispute is to be settled by arbitration as per exchange bye-law

81 81 Transfers Reg 40-2/2 Half yearly certificate from PCS Within 1 month of end of half year Certificate to be filed with SEs simultaneously Provisions are applicable for deletion of name of the deceased holder transmission of securities to the legal heir transposition of securities Schedule VII to be followed

82 82 Record date- Reg 42 Annual Book closure requirement is done away with Requirement is for fixing record date Recommendation or declaration of dividend and/or cash bonuses at least 5 WDs before the record date Other provisions are similar

83 83 Remote e-voting- Reg 44 All resolutions In terms of MGT rules Submission of results within 48 hours of conclusion of the meeting Proxy form to all

84 84 Change of name- Reg 45 Mandatory name change (within 6 months) in case company change its activities which is not reflected in its name. Prior approval of SE is mandatory before making application to ROC Both are new requirements Other provisions are same

85 Website of listed company Reg 46-1/2 85 Shall have a functional website Details of business terms and conditions of appointment of independent directors composition of various committees of board code of conduct of board and SMPs details of establishment of vigil mechanism criteria of making payments to NEDs If not in annual report RPT policy Material Subsidiary Policy Familiarization programme for IDs No of programmes attended during the year on cumulative basis No of hours spend during the year on cumulative basis Other relevant details Policy on determination of material events Contact details of KMPs authorised by the Board for the purpose of determination of materiality and disclosure thereon

86 86 Website of listed company Reg 46-2/2 the address for grievance redressal contact information of the designated officials responsible for assisting and handling investor grievances financial information notice of meeting of the board of directors where financial results shall be discussed financial results, on conclusion of the meeting of the board of directors where the financial results were approved complete copy of the annual report shareholding pattern details of agreements entered into with the media companies and/or their associates schedule of analyst or institutional investor meet and presentations new name and the old name for a continuous period of one year Advertisements made under regulation 47

87 Newspaper advertisement Reg notice of meeting of the board of directors where financial results to be discussed financial results along-with the modified opinion(s) or reservation(s), if any, expressed by the auditor If both standalone & CFS has submitted then CFS to be published statements of deviation(s) or variation on quarterly basis, after review by audit committee explanation in directors report in annual report notices given to shareholders by advertisement Reference in newspaper publication shall be on the website Publication shall be simultaneously with the submission of the same to SEs FS to be published within 48 hours of conclusion of the meeting of board of directors Atleast 1 English language national daily circulating in the whole or substantially the whole of India 1 daily newspaper published in the language of the region, where the registered office is situated Not applicable to entities whose securities are listed on SME Exchange. Website link New requirement

88 88 Additional disclosures in Annual Report

89 89 New disclosures in Annual Report Schedule V (10) Details of non-compliance, penalties imposed by SE / SEBI / Regulatory Authority on any matter related to capital market During last 3 years Web link of material subsidiary policy, RPT policy Disclosures of commodity price risks & commodity hedging activities Non-compliance of any requirement of CG along with reason

90 Policies under the Regulations 90

91 91 Policies-1/5 Reg No. Name of the policy Specific Requirements/Contents Approv al Earlier provisio ns Disclosure on the website 9 Preservation of documents Policy To be classified into two categories:- 1. documents whose preservation shall be permanent in nature ; 2. documents with preservation period of not less than eight years after completion of the relevant transactions: BoD -- Not required 16 (1c) Policy on determining "material subsidiary" Although Regulation 6 is silent about the contents of this Policy, it is understood that the Policy among other things will contain process for determining such material subsidiaries and also the general obligations of the holding company in this regard. Regulatio ns, 2015 is silent regarding this. The Board can can such a policy. Clause 49 Required to be disclosed; Any changes to be updated within 2 working days of such change

92 92 Policies-2/5 Reg No. Name of the policy Specific Requirements/Contents Approval Correspo nding requirem ents Website disclosure 17(9)(b) Risk Management Policy The policy should lay down procedures to inform members of board of directors about risk assessment and minimization procedures 17(5) Code of Conduct For all members of the Board and SMPs BoD Clause BoD Clause 49 To be disclosed; Any changes to be updated within 2 working days of such change 19 (4) and 20(4) with ref to Part D of Schedule II Remuneration of the directors, key managerial personnel and other employees Nomination and remuneration committee shall frame the policy in consonance with the Companies Act, 2013 and other relevant laws NRC -- --

93 Policies-3/5 93 Reg No. Name of the policy 19(4), Board Diversity 20(4), Schedule I part D Policy 23 (1) Materiality of related party transactions and on dealing with related party transactions Specific Requirements/Contents As the very name suggests, the policy has to contain details pertaining to laying down thresholds for determining materiality and on dealing with related party transactions. Approval Audit Committee Regulations, 2015 is silent regarding this. The Board can pass such a policy. Corresp onding require ments Clause 49 Clause 49 Website disclos ure Not required Required to be disclosed; Any changes to be updated within 2 working days of such change 23(3) Criteria for granting omnibus approval for RPTs In line with RPT Policy Audit Committee Clause 49 Not required

94 94 Policies-4/5 Reg No. Name of the policy 25(7) Familirization Programme for IDs Specific Requirements/Contents To familiarize the IDs with the industry where the company operates, business model etc. Approval No specific requirement Correspo nding requirem ents Clause 49 Website disclosure To be disclosed; Any changes to be updated within 2 working days of such change 30 Policy on determination of materiality To be framed on the basis of Regulation 30 (4) and Schedule III BoD -- Required to be disclosed; 46 Vigil Mechanism For directors and employees to report genuine concerns Regulations, 2015 is silent regarding this. The Board can pass such a policy. Clause 49 To be disclosed; Any changes to be updated within 2 working days of such change

95 95 Policies-5/5 Reg No. Name of the policy 46 Criteria for making payment to NEDs Specific Requirements/Conte nts For payment to NEDs including IDs Approval Corresponding requirements NRC Clause 49 To be disclosed, if not disclosed in annual report; Any changes to be updated within 2 working days of such change Sch II Part D criteria for evaluation of performance of independent directors and the board of directors For performance evaluation of IDs NRC Clause 49 Not required

96 Intimations under LODR 96

97 97 Prior intimation- 1/2 Reg. No Particulars Time line 29(1)(a) Meeting of Board held for approval financial results viz. quarterly, half yearly, or annual 5 days in advance 29(1)(b) to (f) Proviso to 29(1)(d) Meeting of Board held for Buyback voluntary delisting further public offer, rights issue, IDR, GDR, FCCB, QIPs, Debt issue, preferential issue and determination of issue price etc. declaration/recommendation of dividend issue of convertible securities declaration of bonus securities if included in agenda AGM / EGM/ postal ballot for approval for further fund raising indicating type of issuance 2 working days in advance 2 working days in advance 29(3)(a) any alteration in the form or nature of any of its securities that are listed on the stock exchange or in the rights or privileges of the holders thereof 11 working days in advance

98 98 Prior intimation- 2/2 Reg. No Particulars Time line 29(3)(b) any alteration in the date on which, the interest on debentures or bonds, or the redemption amount of redeemable shares or of debentures or bonds, shall be payable 11 working days in advance 42(2) Notice of record date or date of closure of transfer books At least 7 working days (excluding the date of intimation and the record date) 50 (1) Information of interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds 50 (2) intention to raise funds through new non-convertible debt securities or non-convertible redeemable preference shares proposes to list either through a public issue or on private placement basis, 50 (3) recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered 11 working days before date on and from which they are payable Prior to meeting of the Board in which it shall be considered at least two working days in advance, excluding the date of the intimation and date of the meeting

99 99 Post event intimation- 1/5 Reg. No Particulars 7(3) Compliance certificate with regard to maintenance of share transfer facility either in house or through Share transfer agents, RTI Time line Within 1 month of end of each half of the financial year 7(4) Changes or Appointment of new Share Transfer Agent Within 7 days of entering into the agreement 13(3) A statement giving the number of investor complaints pending at the beginning of the quarter, those received, disposed off and those remaining unresolved at the end of the quarter. Within 21 days from the end of each quarter 27(2)(a) Compliance report on corporate governance, Details of Material RPT Within 15 days from close of the quarter

100 100 Post event intimation- 2/5 Reg. No Particulars Time line 30 Material events as enumerated under Schedule III Not later than 24 hours of occurrence 30 Outcome of Meetings of the Board of Directors- dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched; any cancellation of dividend with reasons thereof; the decision on buyback of securities; the decision with respect to fund raising proposed to be undertaken; increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched; reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to; short particulars of any other alterations of capital, including calls; financial results; decision on voluntary delisting by the listed entity from stock exchange(s). Within 30 minutes of the Meeting

HCL TECHNOLOGIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION. (Effective from January 12, 2016)

HCL TECHNOLOGIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION. (Effective from January 12, 2016) HCL TECHNOLOGIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION (Effective from January 12, 2016) POLICY FOR DETERMINATION OF MATERIALITY OF EVENT / INFORMATION 1. Preface The

More information

Policy on Determination of Materiality for making disclosure of events. Aegis Logistics Ltd.

Policy on Determination of Materiality for making disclosure of events. Aegis Logistics Ltd. Policy on Determination of Materiality for making disclosure of events Aegis Logistics Ltd. Contents SCOPE AND PURPOSE... 3 1. APPLICABILITY... 3 2. DEFINITIONS... 3 3. KEY PRINCIPLES IN DETERMINING MATERIALITY...

More information

ROLTA INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION

ROLTA INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION ROLTA INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION Background: As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

More information

Abbott India Limited

Abbott India Limited Abbott India Limited Policy for Determination of Materiality of Event or information for Disclosure 1. Purpose: 1.1 The Policy is framed in accordance with the provisions of Regulation 30 of the Securities

More information

ALPHAGEO (INDIA) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION

ALPHAGEO (INDIA) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION ALPHAGEO (INDIA) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION 1. INTRODUCTION This Policy is called Alphageo (India) Limited Policy for determination of materiality of events/information

More information

SITI CABLE NETWORK LIMITED

SITI CABLE NETWORK LIMITED SITI CABLE NETWORK LIMITED (CIN : L64200MH2006PLC160733) POLICY FOR DETERMINING MATERIAL EVENTS SITI CABLE NETWORK LIMITED Page 1 1. PREAMBLE & PURPOSE 1.1. Regulation 30(4)(ii) of the Securities and Exchange

More information

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE This Policy is framed in accordance with the requirements of Regulation 30 of Securities and Exchange Board of India (Listing Obligations

More information

INDRAPRASTHA GAS LIMITED. (Policy for determination of Materiality and Disclosure)

INDRAPRASTHA GAS LIMITED. (Policy for determination of Materiality and Disclosure) INDRAPRASTHA GAS LIMITED I. PREAMBLE (Policy for determination of Materiality and Disclosure) The Board of Directors of Indraprastha Gas Limited ( Company ) has adopted the Policy for Determination of

More information

Orient Electric Limited. Policy for Determination of Materiality of Events or Information s

Orient Electric Limited. Policy for Determination of Materiality of Events or Information s Orient Electric Limited Policy for Determination of Materiality of Events or Information s 1. POLICY Policy for determination of materiality of events or information Regulation 30(4)(ii) of the Securities

More information

SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015. (Listing Regulations)

SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015. (Listing Regulations) SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015 (Listing Regulations) Chapter No. Content Remarks I Preliminary (Regulation 1to 3) Applicable II III IV V VI Principles Governing

More information

DYNAMATIC TECHNOLOGIES LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION

DYNAMATIC TECHNOLOGIES LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION DYNAMATIC TECHNOLOGIES LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION PURSUANT TO REGULATION 30 OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOURES REQUIREMENTS)

More information

PEOPLES INVESTMENTS LIMITED. Policy on Determination of Materiality of Event(s)/Information

PEOPLES INVESTMENTS LIMITED. Policy on Determination of Materiality of Event(s)/Information PEOPLES INVESTMENTS LIMITED Policy on Determination of Materiality of Event(s)/Information 1. PREAMBLE The Securities and Exchange Board of India ( SEBI ) has promulgated the SEBI (Listing Obligations

More information

PTL ENTERPRISES LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION

PTL ENTERPRISES LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION PTL ENTERPRISES LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION (UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIRMENTS), 2015 1 Contents Sr.No. Particulars Page No.

More information

GRAPHITE INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS

GRAPHITE INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS 1. Preamble GRAPHITE INDIA LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS The Board of Directors (the Board ) of Graphite India Limited (the Company or GIL ), has adopted the following policy

More information

POLICY FOR DETERMINATION OF MATERIALITY OF ANY EVENT OR INFORMATION

POLICY FOR DETERMINATION OF MATERIALITY OF ANY EVENT OR INFORMATION MRF LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF ANY EVENT OR INFORMATION Approved by the Board of Directors at its meeting held on 29 th October, 2015. Objective : This Policy is framed in accordance

More information

Hindustan Construction Co. Limited. Policy for determining materiality of events/information

Hindustan Construction Co. Limited. Policy for determining materiality of events/information Hindustan Construction Co. Limited Policy for determining materiality of events/information I. Objective II. Compliance with Regulation 30 of LODR In terms of Regulation 30 of the SEBI (Listing Obligations

More information

FILTRON ENGINEERS LIMITED

FILTRON ENGINEERS LIMITED FILTRON ENGINEERS LIMITED Introduction POLICY FOR DETERMINATION OF MATERIALITY OF INFORMATION FILTRON ENGINEERS LIMITED was listed on BSE in 1996. As per Regulation 30 of the Listing Regulations, the Company

More information

POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS & INFORMATION AND THEIR DISCLOSURE, 2015

POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS & INFORMATION AND THEIR DISCLOSURE, 2015 BHARAT HEAVY ELECTRICALS LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS & INFORMATION AND THEIR DISCLOSURE, 2015 (As approved by the Board of Directors of the Company at its Meeting held on

More information

Policy on Dissemination and Materiality of Events or Information

Policy on Dissemination and Materiality of Events or Information Policy on Dissemination and Materiality of Events or Information (I) Objective : (1) IL&FS Investment Managers Limited is committed to providing timely, accurate and balanced disclosure of all material

More information

POLICY FOR DISCLOSURE OF MATERIAL EVENTS / INFORMATION

POLICY FOR DISCLOSURE OF MATERIAL EVENTS / INFORMATION POLICY FOR DISCLOSURE OF MATERIAL EVENTS / INFORMATION 1. INTRODUCTION: Timely dissemination of price sensitive information / events and ensuring uniform availability of information across the shareholders

More information

INDOSOLAR LIMITED POLICY FOR DETERMINATION OF MATERIALITY

INDOSOLAR LIMITED POLICY FOR DETERMINATION OF MATERIALITY INDOSOLAR LIMITED POLICY FOR DETERMINATION OF MATERIALITY LEGAL FRAMEWORK In Compliance with regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)

More information

SpiceJet Limited POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION

SpiceJet Limited POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION 1. BACKGROUND: The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 (the Listing

More information

RAMKY INFRASTRUCTURE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION

RAMKY INFRASTRUCTURE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION RAMKY INFRASTRUCTURE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION I. PREFACE a. This Policy is approved and adopted by the Board of Directors of Ramky Infrastructure Limited

More information

GUJARAT FOILS LIMITED

GUJARAT FOILS LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations

More information

Maruti Suzuki India Limited

Maruti Suzuki India Limited Maruti Suzuki India Limited POLICY ON DISCLOSURE OF INFORMATION UNDER REGULATION 30 OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 1. INTRODUCTION

More information

Policy for Determining Materiality of Event / Information (Approved by the Board of Directors in its meeting held on )

Policy for Determining Materiality of Event / Information (Approved by the Board of Directors in its meeting held on ) Policy for Determining Materiality of Event / Information (Approved by the Board of Directors in its meeting held on 12.02.2016) LEEL Electricals Limited CIN: L29120UP1987PLC091016 Regd. Office: Unit No.

More information

SALASAR TECHNO ENGIEERING LIMITED

SALASAR TECHNO ENGIEERING LIMITED SALASAR TECHNO ENGIEERING LIMITED POLICY FOR DETERMINING 'MATERIAL' SUBSIDIARIES STATUTORY MANDATE The Board of Directors (The Board ) of Salasar Techno Engineering Limited (the Company ) has adopted the

More information

POLICY FOR DISCLOSURE OF MATERIAL EVENTS OR INFORMATION AND DISCLOSURE & DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION

POLICY FOR DISCLOSURE OF MATERIAL EVENTS OR INFORMATION AND DISCLOSURE & DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION POLICY FOR DISCLOSURE OF MATERIAL EVENTS OR INFORMATION AND DISCLOSURE & DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION 1 1. INTRODUCTION: This Policy Provides the guidelines adopted by the Company

More information

The following factors shall be considered for determining materiality of any event/information:

The following factors shall be considered for determining materiality of any event/information: Grasim Industries Limited POLICY FOR DETERMINATION OF MATERIALITY OF INFORMATION OR EVENT 1.0 INTRODUCTION The Board of Directors (the Board ) of Grasim Industries Limited (the Company ) has adopted this

More information

INDUSIND BANK LIMITED

INDUSIND BANK LIMITED INDUSIND BANK LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION Page 1 of 7 I. Regulatory Landscape Securities and Exchange Board of India notified the SEBI (Listing Obligations and

More information

POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION

POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION I. SCOPE OF THE POLICY This policy is prepared in accordance with the requirements of the provisions of Regulation 30(4)(ii) of the SEBI (Listing

More information

LIC HOUSING FINANCE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF AN EVENT OR INFORMATION

LIC HOUSING FINANCE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF AN EVENT OR INFORMATION 1. OBJECTIVE LIC HOUSING FINANCE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF AN EVENT OR INFORMATION In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

More information

POLICY ON DISCLOSURE OF MATERIAL EVENTS OF SOLAR INDUSTRIES INDIA LIMITED

POLICY ON DISCLOSURE OF MATERIAL EVENTS OF SOLAR INDUSTRIES INDIA LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS OF SOLAR INDUSTRIES INDIA LIMITED A. STATUTORY MANDATE The Board of Directors (The Board ) of SOLAR INDUSTRIES INDIA LIMITED (the Company ) has adopted the following

More information

MINDTECK (INDIA) LIMITED. Policy for Determining Material Information. Adopted by the Board of Directors. effective from December 01, 2015

MINDTECK (INDIA) LIMITED. Policy for Determining Material Information. Adopted by the Board of Directors. effective from December 01, 2015 MINDTECK (INDIA) LIMITED Policy for Determining Material Information Adopted by the Board of Directors effective from December 01, 2015 POLICY FOR DETERMINING MATERIAL INFORMATION Document Type General

More information

POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION

POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS OR INFORMATION 1. LEGAL FRAMEWORK AND OBJECTIVE This Policy for Determination of Materiality of Events or Information is aimed at providing guidelines

More information

Sundram Fasteners Limited

Sundram Fasteners Limited SFL s POLICY FOR DETERMINATION OF MATERIALITY OF AN EVENT [Pursuant to Regulation 30(4) (ii) of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015] 1. Introduction Securities Exchange

More information

DCM SHRIRAM INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS

DCM SHRIRAM INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS DCM SHRIRAM INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS (Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015) 1. PREAMBLE The

More information

9th Floor Antriksh Bhawan, 22 K G Marg, New Delhi CIN: L65922DL1988PLC033856

9th Floor Antriksh Bhawan, 22 K G Marg, New Delhi CIN: L65922DL1988PLC033856 POLICY ON DETERMINATION OF MATERIALITY (Pursuant to Regulation 30(4)(ii) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015) Effective Date

More information

SHANKARA BUILDING PRODUCTS LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS/ INFORMATION

SHANKARA BUILDING PRODUCTS LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS/ INFORMATION SHANKARA BUILDING PRODUCTS LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS/ INFORMATION 1. LEGAL FRAMEWORK The board of directors of Shankara Building Products Limited (the Company ) has

More information

BANGALORE FORT FARMS LIMITED

BANGALORE FORT FARMS LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations

More information

BHAGERIA INDUSTRIES LIMITED (Formerly known as Bhageria Dye Chem Limited)

BHAGERIA INDUSTRIES LIMITED (Formerly known as Bhageria Dye Chem Limited) 1. Preface BHAGERIA INDUSTRIES LIMITED (Formerly known as Bhageria Dye Chem Limited) Policy for Determination of Materiality of any events / information In accordance with Clause (ii) of sub-regulation

More information

MPS Limited POLICY ON DETERMINATION ON MATERIALITY OF AN EVENT/INFORMATION

MPS Limited POLICY ON DETERMINATION ON MATERIALITY OF AN EVENT/INFORMATION MPS Limited POLICY ON DETERMINATION ON MATERIALITY OF AN EVENT/INFORMATION 1. Purpose and Objective: MPS Limited ( the Company ), being a listed entity, is obliged to make disclosures of any material events

More information

STRIDES PHARMA SCIENCE LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/ INFORMATION FOR DISCLOSURE TO STOCK EXCHANGES

STRIDES PHARMA SCIENCE LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/ INFORMATION FOR DISCLOSURE TO STOCK EXCHANGES STRIDES PHARMA SCIENCE LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/ INFORMATION FOR DISCLOSURE TO STOCK EXCHANGES 1 POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/ INFORMATION FOR DISCLOSURE

More information

POLICY ON DISCLOSURE OF MATERIAL EVENTS AND INFORMATION

POLICY ON DISCLOSURE OF MATERIAL EVENTS AND INFORMATION POLICY ON DISCLOSURE OF MATERIAL EVENTS AND INFORMATION (Pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( LODR ) POLICY ON DISCLOSURE

More information

ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED. Policy for determining material event/information for disclosure to stock exchanges

ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED. Policy for determining material event/information for disclosure to stock exchanges ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED Policy for determining material event/information for disclosure to stock exchanges I. Background Regulation 30 of the Securities and Exchange Board of India

More information

ITD Cementation India Limited

ITD Cementation India Limited ITD Cementation India Limited POLICY ON DETERMINATION ON MATERIALITY OF AN EVENT/INFORMATION 1. Purpose and Objective: ITD Cementation India Limited ( the Company ), being a listed entity, is obliged to

More information

POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION

POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION POLICY FOR DETERMINING MATERIALITY OF EVENTS/INFORMATION I. INTRODUCTION This policy is framed by the Board of Directors of Generic Engineering Construction and Projects Limited (formerly known as Welplace

More information

HEG LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION AND DISCLOSURE TO STOCK EXCHANGES

HEG LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION AND DISCLOSURE TO STOCK EXCHANGES HEG LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION AND DISCLOSURE TO STOCK EXCHANGES Approved by Board of Directors at its meeting held on 7 th November, 2015 and Modified on Board

More information

MATERIAL EVENTS POLICY

MATERIAL EVENTS POLICY MATERIAL EVENTS POLICY (as amended by Board of Directors in its meeting held on 30 th May, 2018) Page 1 of 6 BACKGROUND: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,

More information

HERANBA INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY

HERANBA INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY HERANBA INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY 1. BACKGROUND Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

More information

VKJ INFRADEVELOPERS LIMITED Policy on Determination of Materiality of Event(s)

VKJ INFRADEVELOPERS LIMITED Policy on Determination of Materiality of Event(s) VKJ INFRADEVELOPERS LIMITED Policy on Determination of Materiality of Event(s) 1. OBJECTIVE The Policy on Determination of Materiality is framed in accordance with the requirements of the Regulation 30

More information

MATERIALITY OF EVENTS POLICY

MATERIALITY OF EVENTS POLICY MATERIALITY OF EVENTS POLICY PREAMBLE Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [hereinafter referred as SEBI (LODR) Regulations,

More information

HPCL S POLICY FOR DETERMINATION OF MATERIALITY OF EVENT / INFORMATION

HPCL S POLICY FOR DETERMINATION OF MATERIALITY OF EVENT / INFORMATION 1. PREAMBLE: HPCL S POLICY FOR DETERMINATION OF MATERIALITY OF EVENT / INFORMATION 1.1 This Policy shall be called Policy for Determination of Materiality of Event / Information (hereinafter referred to

More information

Policy on Criteria for Determining Materiality of Events POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS. Page 1 of 9

Policy on Criteria for Determining Materiality of Events POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS. Page 1 of 9 POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS Page 1 of 9 Table of Contents POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS...1 1. OBJECTIVE...3 2. DEFINITION...3 3. GUIDELINES FOR

More information

Jet Infraventure Limited. Policy for Determining Material Events and Information

Jet Infraventure Limited. Policy for Determining Material Events and Information 1. Introduction: The ( Policy ) is framed in accordance with the requirement of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

More information

Policy for determination of materiality for events/ information and disclosure thereof to the stock exchange

Policy for determination of materiality for events/ information and disclosure thereof to the stock exchange Policy for determination of materiality for events/ information and disclosure thereof to the stock exchange Background Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations

More information

SUPREME PETROCHEM LTD POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS

SUPREME PETROCHEM LTD POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS SUPREME PETROCHEM LTD POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board

More information

4. DEFINITIONS: Regulation: Means SEBI (Listing Obligations and Disclosures. Requirements) Regulation, 2015

4. DEFINITIONS: Regulation: Means SEBI (Listing Obligations and Disclosures. Requirements) Regulation, 2015 Policy for Determination of Materiality for Sayaji Hotel Limited Under Regulation 30(4) of the SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 Read with the Schedule III of the

More information

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations

More information

POLICY FOR DETERMINATION OF MATERIALITY

POLICY FOR DETERMINATION OF MATERIALITY TCI FINANCE LIMITED Regd. Office: Plot No. 20, Survey No. 12, 4th Floor, Kothaguda, Kondapur, Hyderabad 500 084, Telangana, India CIN: L65910TG1973PLC031293, Tel: 040-71204284, 27844284, Fax: 040-23112316,

More information

PETRONET LNG LIMITED NEW DELHI

PETRONET LNG LIMITED NEW DELHI PETRONET LNG LIMITED NEW DELHI POLICY TO DETERMINE MATERIALITY OF EVENTS TO BE REPORTED TO THE STOCK EXCHANGES IN TERMS OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS 2015 1)

More information

JAY BHARAT MARUTI LIMITED

JAY BHARAT MARUTI LIMITED JAY BHARAT MARUTI LIMITED ARCHIVAL POLICY 1. PREAMBLE The Securities and Exchange Board of India has notified Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

More information

COFFEE DAY ENTERPRISES LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS OR INFORMATION

COFFEE DAY ENTERPRISES LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS OR INFORMATION COFFEE DAY ENTERPRISES LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS OR INFORMATION I. Preamble In alignment with Regulation 30 of the Securities and Exchange Board of India ( SEBI ) (Listing Obligations

More information

POLICY FOR DETERMINATION OF MATERIALITY OF ANY EVENT OR INFORMATION

POLICY FOR DETERMINATION OF MATERIALITY OF ANY EVENT OR INFORMATION CORPORATE IDENTIFICATION NUMBER (CIN) - U80301MH2011PLC219291 Registered Office - Office No. 112, 1 st Floor of Building Panchratna CHSL, M. P. Marg, Opera House, Girgaon, Mumbai - 400004, Maharashtra

More information

RESPONSIVE INDUSTRIES LIMITED

RESPONSIVE INDUSTRIES LIMITED RESPONSIVE INDUSTRIES LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENT / INFORMATION 1. Preface The Board of Directors (the Board ) of Responsive Industries Limited (the Company ) has adopted the

More information

BAL PHARMA LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS.

BAL PHARMA LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS. BAL PHARMA LIMITED POLICY FOR DETERMINING MATERIALITY OF EVENTS. (Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 1. OBJECTIVE The Policy is framed

More information

AMOL DICALITE LIMITED. POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS AND INFORMATION I. BACKGROUND Introduction:

AMOL DICALITE LIMITED. POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS AND INFORMATION I. BACKGROUND Introduction: AMOL DICALITE LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS AND INFORMATION I. BACKGROUND Introduction: The Securities and Exchange Board of India (SEBI) on 2 nd September, 2015 issued the

More information

PRAKASH STEELAGE LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS

PRAKASH STEELAGE LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1 1. STATUTORY MANDATE The Board of Directors (The Board ) of Prakash Steelage Limited (the Company ) has adopted the following policy and procedures

More information

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations

More information

PNC INFRATECH LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION

PNC INFRATECH LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION 1. Statutory Mandate The Board of Directors (The Board ) of PNC Infratech Limited (the Company

More information

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED POLICY ON DETERMINATION OF MATERIALITY

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED POLICY ON DETERMINATION OF MATERIALITY HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED POLICY ON DETERMINATION OF MATERIALITY 1 Approving Body: Board of Directors vide resolution dated October 26, 2015 Original Issue Date: October 26, 2015,

More information

information viz major development that is likely to affect business.

information viz major development that is likely to affect business. DISCLOSURE POLICY A. OBJECTIVE OF THE POLICY To have a uniform Disclosure Policy to follow best in class Corporate Governance practices with respect to disclosures, to ensure timely, adequate and accurate

More information

WIPRO LIMITED DISCLOSURE POLICY (With effect from October 23, 2015 and amended on April 20, 2016)

WIPRO LIMITED DISCLOSURE POLICY (With effect from October 23, 2015 and amended on April 20, 2016) WIPRO LIMITED DISCLOSURE POLICY (With effect from October 23, 2015 and amended on April 20, 2016) A. OBJECTIVE OF THE POLICY To have a uniform Disclosure Policy to follow best in class Corporate Governance

More information

SUNDARAM BRAKE LININGS LIMITED

SUNDARAM BRAKE LININGS LIMITED I. INTRODUCTION POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS (As approved by the Board of Directors in their Meeting held on 24.05.2016) Securities and Exchange Board of India (SEBI) has introduced

More information

Divi s Laboratories Limited

Divi s Laboratories Limited Policy on Determination of Material Events / Information 1. Preamble In terms of Clause 30 of Chapter IV of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

More information

RESURGERE MINES & MINERALS INDIA LIMITED

RESURGERE MINES & MINERALS INDIA LIMITED RESURGERE MINES & MINERALS INDIA LIMITED Policy on Material Events TABLE OF CONTENTS Sr. No. Particulars Page No. 1 Background 2 2 Definitions 2 3 Interpretation 3 4 Policy 3 5 Reporting and Disclosure

More information

POLICY FOR DETERMINATION OF MATERIALITY FOR CMM INFRAPROJECTS LIMITED.

POLICY FOR DETERMINATION OF MATERIALITY FOR CMM INFRAPROJECTS LIMITED. POLICY FOR DETERMINATION OF MATERIALITY FOR CMM INFRAPROJECTS LIMITED. (Under Regulation 30(4) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 BACKGROUND Regulation 30

More information

CORPORATE POLICY ON MATERIALITY FOR DISCLOSURE OF EVENTS TO THE STOCK EXCHANGES

CORPORATE POLICY ON MATERIALITY FOR DISCLOSURE OF EVENTS TO THE STOCK EXCHANGES CORPORATE POLICY ON MATERIALITY FOR DISCLOSURE OF EVENTS TO THE STOCK EXCHANGES 1. Preamble 1.1. This policy has been framed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing

More information

Policy for determination of materiality of information/events for disclosure to the Stock Exchanges. Regulation 30(4)(ii) of Listing Regulations

Policy for determination of materiality of information/events for disclosure to the Stock Exchanges. Regulation 30(4)(ii) of Listing Regulations Policy for determination of materiality of information/events for disclosure to the Stock Exchanges Regulation 30(4)(ii) of Listing Regulations SOFTTECH ENGINEERS LIMITED CIN: U30107PN1996PLC016718 Registered

More information

POLICY TO DETERMINE THE MATERIAL EVENTS

POLICY TO DETERMINE THE MATERIAL EVENTS B2B SOFTWARE TECHNOLOGIES LIMITED Registered Office: AT 3 RD AND 4 TH FLOOR, AVR TOWERS, 6 3 1112, BEHIND WEST SIDE SHOW ROOM, NEAR SOMAJIGUDA, BEGUMPET, HYDERABAD 500016 CIN: L72200TG1994PLC018351 POLICY

More information

POLICY FOR DETERMINATION OF MATERIALITY OF INFORMATION OR EVENTS RAJNISH WELLNESS LIMITED

POLICY FOR DETERMINATION OF MATERIALITY OF INFORMATION OR EVENTS RAJNISH WELLNESS LIMITED POLICY FOR DETERMINATION OF MATERIALITY OF INFORMATION OR EVENTS OF RAJNISH WELLNESS LIMITED Rajnish Wellness Limited (the Company ) believes in adequate and accurate disclosure of information on an ongoing

More information

POLICY FOR DETERMINING MATERIALITY FOR DISCLOSURE OF INFORMATION

POLICY FOR DETERMINING MATERIALITY FOR DISCLOSURE OF INFORMATION POLICY FOR DETERMINING MATERIALITY FOR DISCLOSURE OF INFORMATION 1. LEGAL FRAMEWORK: This Policy for determination of materiality of events and information for disclosure to the Stock Exchanges (hereinafter

More information

CHEMIESYNTH (VAPI) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION

CHEMIESYNTH (VAPI) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION CHEMIESYNTH (VAPI) LIMITED POLICY ON DETERMINATION OF MATERIALITY OF EVENTS/INFORMATION INTRODUCTION This Policy is called "Policy for determination of materiality of events/information" (hereinafter referred

More information

Policy on Determination of Materiality

Policy on Determination of Materiality MONSANTO INDIA LIMITED Policy on Determination of Materiality 1. INTRODUCTION In accordance with Regulation 30 (4) (ii) of the Securities and Exchange Board of India (Listing Obligations and Disclosure

More information

COMPLIANCES UNDER SEBI LISTING REGULATIONS, 2015

COMPLIANCES UNDER SEBI LISTING REGULATIONS, 2015 COMPLIANCES UNDER SEBI LISTING REGULATIONS, 2015 S.SUDHAKAR VICE-PRESIDENT CORPORATE SECRETARIAL RELIANCE INDUSTRIES LIMITED 1 Disclaimer VIEWS EXPRESSED ARE OF MY OWN AS A PROFESSIONAL AND NOT OF THE

More information

ACCEL FRONTLINE LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION

ACCEL FRONTLINE LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION ACCEL FRONTLINE LIMITED POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION Corporate Office: 75, Nelson Manickam Road, Aminjikarai, Chennai - 600 029 India 1. Introduction POLICY ON DISCLOSURE OF MATERIAL

More information

GVK Power & Infrastructure Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS/INFORMATION

GVK Power & Infrastructure Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS/INFORMATION GVK Power & Infrastructure Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS/INFORMATION Approved by Board of Directors on 10 th November, 2015 1. Statutory Mandate The Board of Directors (The Board ) of

More information

ROLCON ENGINEERING COMPANY LIMITED

ROLCON ENGINEERING COMPANY LIMITED ROLCON ENGINEERING COMPANY LIMITED POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS 1. OBJECTIVE The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and

More information

SURYA ROSHNI LIMITED Policy on determination of materiality of events/ information for making disclosures by the Company.

SURYA ROSHNI LIMITED Policy on determination of materiality of events/ information for making disclosures by the Company. SURYA ROSHNI LIMITED Policy on determination of materiality of events/ information for making disclosures by the Company. PURPOSE OF POLICY In an endeavor to promote transparent and close communication

More information

Kings Infra Ventures Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION

Kings Infra Ventures Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION Kings Infra Ventures Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS / INFORMATION 1. Statutory Mandate The Board of Directors (The Board ) of Kings Infra Ventures Limited (the Company ) has adopted the

More information

DISCLOSURES REQUIRED PURSUANT TO SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

DISCLOSURES REQUIRED PURSUANT TO SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 DISCLOSURES REQUIRED PURSUANT TO SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 (A) Disclosures of Events or Information pursuant to Regulation 30 Regulation 30 of the SEBI Listing

More information

POLICY FOR DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION

POLICY FOR DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION POLICY FOR DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION 1. INTRODUCTION The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

More information

Compliance Calendar Quarter January March, 2019

Compliance Calendar Quarter January March, 2019 Compliance Calendar Quarter January March, 2019 The Quarterly Compliance Calendar provides a useful way to track the compliances to be followed during the period with their respective due dates. It would

More information

This policy, duly approved by the Board of Directors shall be hosted on the website of the Bank.

This policy, duly approved by the Board of Directors shall be hosted on the website of the Bank. POLICY ON DETERMINATION AND DISCLOSURE OF MATERIAL EVENTS / INFORMATION ----------------------------------------------------------------------------- 1. NEED AND OBJECTIVE OF THE POLICY: (SEBI), has on

More information

POLICY DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION

POLICY DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION POLICY ON DETERMINATION OF MATERIALITY FOR DISCLOSURE OF EVENTS OR INFORMATION BACKGROUND As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter

More information

Gaurav Pingle & Associates Company Secretaries, Pune

Gaurav Pingle & Associates Company Secretaries, Pune Clause-by-Clause Analysis of amended SEBI LODR Regulations, 2015 Background June 2 2017 SEBI Committee on Corporate Governance was formed under the Chairmanship of Mr. Uday Kotak with the aim of improving

More information

YES BANK Limited. Version: [4.0] Prepared by: Company Secretarial Department. Approved by: Board of Directors Date: July 27, 2016

YES BANK Limited. Version: [4.0] Prepared by: Company Secretarial Department. Approved by: Board of Directors Date: July 27, 2016 Policy on Reporting of Material Events under Regulation 30 of Listing Regulations YES BANK Limited Version: [4.0] Prepared by: Company Secretarial Department Approved by: Board of Directors Date: July

More information

Hero MotoCorp Limited

Hero MotoCorp Limited Hero MotoCorp Limited POLICY ON DISCLOSURE OF MATERIAL EVENTS BY THE LISTED ENTITY AS PER SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 1 POLICY

More information

Presents The Power of 30!

Presents The Power of 30! Presents The Power of 30! A web series of 30 episodes covering different areas of corporate, securities and financial laws for the corporate professionals across the country. COPYRIGHT The presentation

More information

NECTAR LIFESCIENCES LIMITED CIN: L24232PB1995PLC NLL MATERIALITY OF INFORMATION POLICY

NECTAR LIFESCIENCES LIMITED CIN: L24232PB1995PLC NLL MATERIALITY OF INFORMATION POLICY NECTAR LIFESCIENCES LIMITED CIN: L24232PB1995PLC016664 NLL MATERIALITY OF INFORMATION POLICY 1 1. Preface The Board of Directors (the Board ) of Nectar Lifesciences Limited (the Company ) has adopted the

More information