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Published on 3/04/2018 5:17:50 PM | Source: Equirus Securities Pvt Ltd

Equirus securities report on Capital Market Tracker - Equirus Sec

SEBI Board Meeting | Other proposed amendments

Listing Regulations

● Stock exchanges authorized to impose fines on violations

● Exchanges also authorized to freeze shareholding of Promoter and Promoter Group entities

* In non-compliant entity

* In other securities

● Persistent non-compliance to lead to suspension.

Amendments to Regulations

● Public consultation initiated to amend:

* SEBI Buyback Regulations

* SEBI Takeover Regulations

Dematerialization

● Transfer of securities shall not be processed unless securities are held in dematform with depositories

● Intended to curb fraudulent transfers.

Auditors and audit-related

● Disclosures of auditor credentials, audit fee, reason for auditor resignation etc.

● Secretarial audit to be mandatory for listed entities and their material unlisted subsidiaries as under SEBI LODR

● Enhanced disclosure of Related Party Transactions (RPTs), and related parties to be permitted to vote against RPTs

● Mandatory disclosure of consol. quarterly results from FY19-20.

Enhanced disclosure and obligations

● Disclosure on utilization of funds from QIP / Pref. Issue

● Obligations on listed entities w.r.t. subsidiaries

● Shareholder approval required for royalty/brand payments exceeding 2% of consol turnover to related parties

● For top 100 entities by market cap

* To hold AGMs within 5 months after the end of FY19

* Webcast of AGMs compulsory.

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