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Clause 16 of the Listing Agreement for Equity Shares

Clause 16 of the Listing Agreement for Equity Shares

The Company agrees to close its Transfer Books for purposes of declaration of dividend or the issue of right or bonus shares or issue of shares for conversion of debentures or of shares arising out of rights attached to debentures or for such other purposes as the Exchange may agree to or require and further agrees to close its Transfer Books at least once a year at the time of the Annual General Meeting if they have not been otherwise closed at any time during the year and to give to the Exchange the notice in advance of at least seven working days or of as many days as the Exchange may from time to time reasonably prescribe, stating the dates of closure of its Transfer Books (or, when the Transfer Books are not to be closed, the date fixed for taking a record of its shareholders or debenture holders) and specifying the purpose or purposes for which the Transfer Books are to be closed (or the record is to be taken) and to send copies of such notices to the other recognised stock exchanges in India.

Provided further that in case of a company on whose stocks derivatives are available or whose stocks form part of an index on which derivatives are available, shall give a notice period of atleast seven working days to Exchanges for corporate actions like mergers, de-mergers, splits and bonus shares.

The company further agrees that the minimum time gap between the two book closures and/or record dates would be atleast 30 days.

Source: BSE Stock Exchange, Listing Agreement
Post Last Updated On: 28th August 2015

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