CIRCULAR NO. CFD/DIL/LA/2009/3/2, DATED 3-2-2009
1.0 It has been decided to amend certain clauses in the Equity Listing Agreement to enhance disclosures regarding shareholding of promoters and promoter group. Accordingly, this circular is issued in exercise of powers conferred by subsection (1) of Section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. The details of amendment are as under:
1.1 Amendment to Clause 35
The format for reporting the shareholding pattern contains six parts. The first two parts viz. Part I(a) and I(b) contains disclosures of shareholding of promoter and promoters group. Part I(a) and I(b) of the format are required to be amended to include details of shares pledged by promoters and promoter group entities, as specified in the annexure.
1.2 Amendments to Clause 41
The format for submitting the quarterly financial result of the company, is required to be modified to include details of promoters and promoter group shareholding including the details of pledged shares, as specified in the annexure.
2.0 All the Stock Exchanges are advised to :
2.1 give effect to the above mentioned policy amendments and appropriately amend the relevant clauses of Equity Listing Agreement in line with the text of the amendments specified in annexure.
2.2 communicate to SEBI the status of implementation of the requirements of this circular in the next Monthly Development Report.
3.0 Applicability
3.1 The revision in the formats under clause 35 and 41 of Equity Listing Agreement as specified in the annexure shall come into force with immediate effect.
3.2 The reporting as per the revised formats under clause 35 and 41 shall start from the quarter ending March 31, 2009.
3.3 The report for quarter ending March 2009, June 2009, September 2009 and December 2009 under Clause 41, may not contain details of pledged shares for the corresponding quarter of the previous year.
4.0 This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Issues and Listing”.
1. Annexure A – Amendments to Clause 35 of Equity Listing Agreement.
2. Annexure B – Amendments to Clause 41 of Equity Listing Agreement.
