Applicability of clause 49
This query is : Resolved
prachi gupta
(Querist)
26 February 2015
sir can you please give examples of listed company where clause 49 of listing agreement is not applicable because of special statue
CS Mitesh Mehta
(Expert)
26 February 2015
Exemption of Clause 49 of the Listing Agreement
a. Companies 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;
Provided that where the provisions of Clause 49 becomes applicable to a company at a later date, such company shall comply with the requirements of Clause 49 within six months from the date on which the provisions became applicable to the company.
b. Companies whose equity share capital is listed exclusively on the SME and SME-ITP Platforms
a. Companies 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;
Provided that where the provisions of Clause 49 becomes applicable to a company at a later date, such company shall comply with the requirements of Clause 49 within six months from the date on which the provisions became applicable to the company.
b. Companies whose equity share capital is listed exclusively on the SME and SME-ITP Platforms
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prachi gupta
(Querist)
26 February 2015
thank you very much sir
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