Consultation Paper on
review of SEBI (Listing Obligations and Disclosure Requirements)
Regulations,2015
review of SEBI (Listing Obligations and Disclosure Requirements)
Regulations,2015
listed companies
should disclose the financial results to the exchanges within 30 minutes of
approval by their boards. At present, such disclosures need to made within 30
minutes from the conclusion of the board meeting
should disclose the financial results to the exchanges within 30 minutes of
approval by their boards. At present, such disclosures need to made within 30
minutes from the conclusion of the board meeting
The top 1,000 listed
entities based on market capitalisation (calculated as on March 31 of every
financial year) will formulate a dividend distribution policy which will be
disclosed in their annual reports and on their websites. (Currently, this is
applicable for top 500 listed companies)
entities based on market capitalisation (calculated as on March 31 of every
financial year) will formulate a dividend distribution policy which will be
disclosed in their annual reports and on their websites. (Currently, this is
applicable for top 500 listed companies)
SEBI in a consultation
paper has proposed that NO newspaper advertisement on notice of the board
meeting to discuss financial results and quarterly statement of deviation or
variation will no longer be required
paper has proposed that NO newspaper advertisement on notice of the board
meeting to discuss financial results and quarterly statement of deviation or
variation will no longer be required
Besides, Sebi
suggested where it is not possible to use electronic mode of payment,
'payable-at-par' warrants or cheques will be issued. Under the proposal, the
listed company will issue quarterly report to the stock exchange(s) on loss of
share certificates and issue of duplicate certificates.
suggested where it is not possible to use electronic mode of payment,
'payable-at-par' warrants or cheques will be issued. Under the proposal, the
listed company will issue quarterly report to the stock exchange(s) on loss of
share certificates and issue of duplicate certificates.
The regulator has
sought comments from public till October 11 regarding the proposed amendments
to LODR (Listing Obligations and Disclosure Requirements) Regulations. The
final norms will be put in place after taking into consideration views of all
the stakeholders.
sought comments from public till October 11 regarding the proposed amendments
to LODR (Listing Obligations and Disclosure Requirements) Regulations. The
final norms will be put in place after taking into consideration views of all
the stakeholders.
Besides, the regulator
has aligned disclosure regarding to resolution plan/restructuring of loan or
borrowings from banks/financial institutions with the changes made by Reserve
Bank of India (RBI).
has aligned disclosure regarding to resolution plan/restructuring of loan or
borrowings from banks/financial institutions with the changes made by Reserve
Bank of India (RBI).
Corporate
Debt Restructuring scheme has been withdrawn by the apex bank and has been
replaced with the Reserve Bank of India (Prudential Framework for Resolution of
Stressed Assets) Directions, 2019.
Debt Restructuring scheme has been withdrawn by the apex bank and has been
replaced with the Reserve Bank of India (Prudential Framework for Resolution of
Stressed Assets) Directions, 2019.
Will Murugappa’s
Holding Company appoint a woman director on its Board ?
Holding Company appoint a woman director on its Board ?
Murugappa's parent
firm to decide Valli Arunachalam's induction on Sept 21 2020
firm to decide Valli Arunachalam's induction on Sept 21 2020
Holding company of the
Rs 38,000-crore Murugappa Group – Ambadi Investments (AIL’s) – is expected to
discuss Valli Arunachalam’s possible induction into the board during a
shareholders’ meeting on September 21.
Rs 38,000-crore Murugappa Group – Ambadi Investments (AIL’s) – is expected to
discuss Valli Arunachalam’s possible induction into the board during a
shareholders’ meeting on September 21.
In January, the
59-year-old Arunahcalam, a technology consultant and daughter of former
Murugappa patriarch late MV Murugappan, waged a lone battle against seven other
branches of the family for a position on the eight-member all-male board of
AIL.
59-year-old Arunahcalam, a technology consultant and daughter of former
Murugappa patriarch late MV Murugappan, waged a lone battle against seven other
branches of the family for a position on the eight-member all-male board of
AIL.
AIL’s notice said that
for the upcoming meeting, “The company received a notice in writing dated
August 5, 2020, from Valli Arunachalam, a shareholder belonging to the promoter
group, proposing herself as a candidate for being appointed as a director of
the company.”
for the upcoming meeting, “The company received a notice in writing dated
August 5, 2020, from Valli Arunachalam, a shareholder belonging to the promoter
group, proposing herself as a candidate for being appointed as a director of
the company.”
“Accordingly, the
consent of the members is sought for the appointment of Valli Arunachalam as
non-executive director of the company, liable to retire by rotation. None of
the directors and their relatives thereof, has any concern or interest,
financial or otherwise in the above resolution,” said in the notice.
consent of the members is sought for the appointment of Valli Arunachalam as
non-executive director of the company, liable to retire by rotation. None of
the directors and their relatives thereof, has any concern or interest,
financial or otherwise in the above resolution,” said in the notice.
On a query,
Arunachalam said, “I am not aware of a board meeting and have not been invited
to any board meeting. As a shareholder, my family has received the notice for
the proposed annual general meeting on September 21. For that, the agenda
contains various items, and it also includes my proposed appointment to the
board of the company. I am glad the family seems to be seeing the light of day,
and the board (which consists mainly of family members) has placed my
appointment on the AGM agenda. Given that the family controls majority
shareholding in the company, I would like to believe that it is a foregone
conclusion that I will be appointed as a director at the AGM.” Murugappa
Group’s spokesperson said the matter is a family issue and so it cannot
comment.
Arunachalam said, “I am not aware of a board meeting and have not been invited
to any board meeting. As a shareholder, my family has received the notice for
the proposed annual general meeting on September 21. For that, the agenda
contains various items, and it also includes my proposed appointment to the
board of the company. I am glad the family seems to be seeing the light of day,
and the board (which consists mainly of family members) has placed my
appointment on the AGM agenda. Given that the family controls majority
shareholding in the company, I would like to believe that it is a foregone
conclusion that I will be appointed as a director at the AGM.” Murugappa
Group’s spokesperson said the matter is a family issue and so it cannot
comment.
Arunachalam, one of
the heirs to the 119-year old Murugappa Group, claims that her family holds
over 8 per cent share in the holding firm.
the heirs to the 119-year old Murugappa Group, claims that her family holds
over 8 per cent share in the holding firm.
No comments:
Post a Comment