Rajeev kumar Nayak (ACS) (283 Points)
03 June 2011Dear All,
I want to know that if a listed Company has voilated the provisions of Listing Agreement, then what will be the repurcussion i.e What will be the fine/ penalty will be levied on the Company and where the provisions for such fine/ penalty is written.
Thanks in Advance
Rajeev Nayak
Rajnikant Vadigoppula
(CA, CS And CMA Final)
(919 Points)
Replied 04 June 2011
fine will be depend upon the violation. u will find it in SEBI website
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 04 June 2011
| Originally posted by : Rajnikant Vadigoppula | ||
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fine will be depend upon the violation. u will find it in SEBI website |
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AGREED
Jaideep
(Service)
(1368 Points)
Replied 17 June 2011
Listing Agreement is an agreement between stock exchange and company wherein stock exchange agrees to provide platform for trading of shares of the company whereas company has to comply with certain disclosure formalities.
Non compliace will result into breach of agreement and tend to suspension of scrips of the Company.
STOCK EXCHANGE HAVE NO RIGHTS TO IMPOSE PENALTIES.
SEBI will impose penalties if there is non compliance of Regulation for e.g. Regulation 8(3) which is required to be filed with SE.
These penalties will be for non compliance of Regulations and not for Listing Agreement.
Regards
Jaideep Pandya
CAclubindia
