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listing agreement

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(Querist)
21 December 2010 Difference b/w clause 19 and clause 20.
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udit sharma

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udit sharma (Expert)
22 December 2010 Clause 19 of the Listing Agreement requires prior notice of atleast 2 working days of the Board Meeting at which the recommendation or declaration of a dividend or convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of the dividend or the issue of right is due to be considered.

In case we have given an intimation to the SE that the Board Meeting is to be held to consider any of the aforesaid specified items of nusiness, then 15 minutes of the conclusion of the BM,the decision taken has to be communicated to the SE by phone, fax, telegram, e-mail (cmlist@nse.co.in).

To sum up, Clause 19 peratins to intimation of the BM where as Clause 20 requires intimation of the decision taken at BM.

God Bless

Udit Sharma
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
22 December 2010 Clause 19 : Notice to hold the BM
Clause 20 : Notice of conclusion or business done in the said BM
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