The Securities and Exchange Board of India (SEBI) has finally modified the equity listing agreement. The modifications include provisions for monitoring of utilization of issue proceeds and electronic filing through CFDS.
An official release said, “It has been decided to amend Clause 49 of the equity listing agreement, requiring the issuer company to place the monitoring report before its audit committee.”
Listed companies shall, in a phased manner, be required to file information with the stock exchange only through a new portal Corporate Filing and Dissemination System (CFDS), it added.
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