Summary of Circular in the SEBI (LODR), 2015 issued on 11/06/2019 is provided below:
- NSE Circular on Action(s) to be initiated against listed companies for non-payment of outstanding Annual Listing Fees (“ALF”)
This circular spells out the penalty on listed companies (including listed SMEs), if they fail to remit Annual Listing Fees on or before 31/08/2019. A phased punishment timeline is provided, ranging from (September 01, 2019 to September 01, 2020) degradation of the trading series from ‘Normal Rolling Segment (Series: EQ)’ to ‘Trade to Trade Segment (Series: BE)’, to freezing of DEMAT accounts of promoter and promoter group and if the default persists for more than six months, trading in equity shares shall be suspended, rendering it eligible for delisting due to violation of Listing regulations. This circular is not applicable to five categories of companies including PSUs, NCLT-admitted companies, Debt listed companies and listed mutual funds.Read More
Leave A Comment