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| You are here : Listing > Compliance With Listing Agreement |
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Companies desirous of getting their securities listed at ICEL are required to enter into an agreement
with ICEL called the Listing Agreement, under which they are required to make certain disclosures
and perform certain acts, failing which the company may face some disciplinary action, including
suspension/delisting of securities. As such, the Listing Agreement is of great importance and is
executed under the common seal of a company. Under the Listing Agreement, a company undertakes, amongst
other things, to provide facilities for prompt transfer, registration, sub-division and consolidation
of securities; to give proper notice of closure of transfer books and record dates, to forward 6 copies
of unabridged Annual Reports, Balance Sheets and Profit and Loss Accounts to ICEL, to file shareholding
patterns and financial results on a quarterly basis; to intimate promptly to the Exchange the happenings
which are likely to materially affect the financial performance of the Company and its stock prices, to
comply with the conditions of Corporate Governance, etc.
The Listing Department of ICEL monitors the compliance by the companies with the provisions of the Listing
Agreement, especially with regard to timely payment of annual listing fees, submission of results,
shareholding patterns and corporate governance reports on a quarterly basis. Penal action is taken
against the defaulting companies.
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