Amendments to Equity Listing Agreement
Summary
This circular mandates amendments to the Equity Listing Agreement to enhance disclosures regarding shareholding of promoters and promoter group. Stock Exchanges are required to amend relevant clauses and report implementation status to SEBI in their Monthly Development Report. The revised reporting formats for pledged shares become effective immediately, with specific transitional rules for the 2009 financial quarters. This section provides the format for disclosing shareholding patterns, specifically detailing categories such as Promoter and Promoter Group. It includes a substituted clause requiring statements on pledged or encumbered shares for specific shareholder categories. Additionally, it presents Annexure B, which outlines the required format for submitting quarterly financial results by non-bank companies.
Text
Circular issued under Section 11(1) of SEBI Act, 1992 to protect investors and regulate the market by amending Equity Listing Agreement clauses.
Parts I(a) and I(b) of the shareholding pattern format must be amended to include details of shares pledged by promoters and promoter group entities.
The format for submitting quarterly financial results must be modified to include details of promoters and promoter group shareholding including pledged shares.
All Stock Exchanges are advised to give effect to policy amendments and appropriately amend the relevant clauses of the Equity Listing Agreement.
Stock Exchanges must communicate the status of implementation of this circular's requirements to SEBI in the next Monthly Development Report.
Revisions in the formats under clause 35 and 41 of the Equity Listing Agreement shall come into force with immediate effect.
Reporting as per the revised formats under clause 35 and 41 shall start from the quarter ending March 31, 2009.
Reports for quarters ending March, June, September, and December 2009 under Clause 41 may not contain details of pledged shares for the corresponding previous year.
for sub-clause (I)(b), the following sub-clause shall be substituted, namely:- “(I)(b) Statement showing shareholding of persons belonging to the category “Promoter and Promoter Group”
In clause 41, for Annexure I, the following Annexure shall be substituted, namely:- “Format for submitting the quarterly financial results by companies other than banks
Source: SecMarx — Amendments to Equity Listing Agreement. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.