SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
SMDRP/POLICY/CIR-13/2000
March 09, 2000
To:
The Presidents/Executive Directors/Managing Directors of all Stock Exchanges
Dear Sir/Madam,
Please refer to our circular vide SMDRP/POLICY/CIR-10/2000 dated February 21, 2000 wherein we had advised all the stock exchanges to incorporate a new clause 49 on Corporate Governance in the Listing Agreement.
The new clause 49 shall apply to all the listed private and public sector companies, in accordance with the schedule of implementation. However for listed entities, which are not companies, but body corporates (e.g. private and public sector banks, financial institutions, insurance companies etc.) incorporated under other statutes, this clause will apply to the extent that it does not violate their respective statutes, and guidelines or directives issued by the relevant regulatory authorities.
Yours faithfully,
PRATIP KAR
EXECUTIVE DIRECTOR
Secondary Market Depository
Research & Publications Department
Tel (022) 2851602 Fax: (022) 2845761
E-mail: pkar@sebi.gov.in
