Securities and Exchange Board of India (SEBI)
DIVISION CHIEF
SECONDARY MARKET DEPARTMENT
December 19, 1994
To,
The President/Executive Director,
of all the Stock Exchanges (except BSE)
Dear Sir,
Fees for Reinstatement of listing
The Stock Exchange, Bombay has decided to impose a fee on companies whose securities are readmitted to dealing on the exchange after they had been removed or suspended from the list for any reason and for any period of time.
The Stock Exchange, Bombay has accordingly amended the second proviso in the Listing Agreement by substituting the following proviso in its place to give effect to the decision:
“AND THE COMPANY HEREBY FURTHER AGREES AND DECLARES THAT all or any of its securities listed on the Exchange shall remain on the list entirely at the discretion of the Exchange AND THAT, the Exchange, in its absolute discretion, suspend or remove the securities from the list, at any time and for any reason whatsoever. For the said suspended security to be re-admitted to dealings on the Exchange, the company shall pay to the Exchange such amount as re-instatement fee as may be prescribed by the Exchange from time to time”.
The Stock Exchange, Bombay is of the opinion that to begin with, reinstatement fee may be charged @ 0.001% of the paid up equity capital of the company for each day of suspension.
This is being brought to your notice for necessary action at your end.
Yours faithfully,
sd/-
R.V. NABAR
