30th June 2017




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:






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.


Companies not allotting the shares on conversion of convertible securities within 18 months.

Same as above.


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