Clause 49 listing agreement

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parag garg

parag garg (Querist)
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13 December 2014 To what category of companies clause 49 of listing agreement applies to?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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15 December 2014 The Clause 49 of the Listing Agreement shall be applicable to all companies whose
equity shares are listed on a recognized stock exchange. However, compliance with
the provisions of Clause 49 shall not be mandatory, for the time being, in respect of the following class of companies:
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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