30th June 2017
NOTICE
Sub:
Non-compliance with certain provisions of SEBI (Issue of Capital and
Disclosure
Requirements) Regulations, 2009 (“ICDR
Regulations”)
To all
Listed companies
Attention of such aforesaid listed companies are drawn
to SEBI Circular Ref. No. CIR/CFD/DIL/57/2017 dated June 15, 2017 (copy available at CSE web-site
at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
“Stock exchanges shall impose fines on the companies for non-compliance with certain provisions of ICDR Regulations as under:
Regulation |
Violation |
Fine |
95(1) |
Delay in completion
of bonus issue. |
₹ 20,000 per day of non-compliance
till the date of compliance. If non-compliance continues for more than 15 days, additional fine of
0.01 % of paid up capital of the entity or ₹ 1 crore, whichever is
less. Paid-up capital for this
purpose shall be the paid up capital as on first day of the financial year in
which the non-compliance occurs. |
75 |
Companies not allotting the shares on
conversion of convertible securities within 18 months. |
Same as above. |
108(2) |
Issuer not
approaching the exchange for listing of equity shares within 20 days from
date of allotment. |
Same as above.” |
It
further read as follows:
“The amount of fine realized as per the above structure shall be credited to the "Investor Protection Fund" of the concerned recognized stock exchange.”
This is for information & necessary action.
CS
Chandrani Datta
Executive-Listing