Clause 49 of the Listing Agreement

1081 views 2 replies

Hi... Please someone explain me the meaning of term'Material non listed Indian Subsidiary' as per Listing Agreement in simple words. If possible, please explain it with the help of an example.

God Bless

Udit Sharma

Replies (2)

 

The term “material nonlisted Indian subsidiary” shall mean an unlisted  subsidiary, incorporated in India, whose turnover or net worth (i.e. paid-up capital and  free reserves) exceeds 20% of the consolidated turnover or net worth respectively, of the listed holding company and its subsidiaries in the immediately preceding accounting year.

 

Hope this has helped

As per Clause 49 of the LA, Material Non-Listed Subsidiary Company means a subsidiary Company of a Listed company which satisfied either of the following conditions:

1.  Such subsidiary is incorporated in India.

2. Turnover or net worth (Paid up capital + free reserve) of such subsidiary exceeds 20 % of turnover or net worth respectively of listed holding company and all its subsidiary including material non listed subsidiary company.

i.e     Turnover or net worth of Material non listed subsidiary co. >   20 % of  Turnover                                                                                                                or net worth of                                                                                                     Listed Holding co. and all                                                                                                          its  subsidiaries

  Rajeev Nayak


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register