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Clause 49 Of Equity Listing Agreement

Clause 49 of the Listing Agreement by Securities Exchange Board of India explains the issue of corporate governance and imposes the standards by which companies must work. following the adoption of the new Law on Shares in 2013; SEBI has amended clause 49 of the listing agreement by an official circular to bring it into line with the new law. [1] The amended clause has been in effect since October 2014. the examination of the annual accounts and the statutory auditor`s report with management before they are submitted to the Board of Directors for approval, in particular with regard to: (a) including in the report of the Board of Directors the matters that are to be included in the Director`s statement of liability in accordance with the provisions of the Competition Act 2013; (b) any changes in accounting standards and practices and the reasons for them; (c) significant accounting reservations including estimates based on management`s assessment; (d) substantial adjustments to the financial statements resulting from audit findings; (e) compliance with listing and other legal requirements relating to accounts or disclosure of transactions with related entities and persons; and (f) the qualifications contained in the draft audit report ii.