Crown Tours Ltd - Non Applicability Of Regulation 24A Of SEBI (Listing Obligations And Disclosure Requirement) Regulation, 2015.

The Securities and Exchange Board of India has amended SEBI (Listing obligations and Disclosure Requirements) Regulation, 2015 and included 24A Regulation as under:

"24A: Secretarial Audit, Every Listed Company and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a Company Secretary in practice, in such form as may be prescribed with effect from the year ended March 31, 2019.

Further, as per the provisions of Regulation 15 of SEBI (Listing obligations and Disclosure Requirements) Regulation, 2015 the compliance with the corporate governance provisions as specified in regulation 24A shall not apply, in respect of:
a)the listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupees twenty five crore, as on the last day of the previous financial year
b)the listed entity which has listed its specified securities on the SME Exchange.
Accordingly, as per exemption given under Regulation 15(2)(a) of SEBl (Listing Obligation and Disclosure Requirements) Regulations, 2015, the requirement of submission of Secretarial Compliance Report is not applicable to the Company as the paid up Equity share capital and Net worth as on the last day of previous financial year is not exceeding Rs. 10 Crores and Rs. 25 Crores respectively.

Pdf Link: Crown Tours Ltd - Non Applicability Of Regulation 24A Of SEBI (Listing Obligations And Disclosure Requirement) Regulation, 2015.

Source : BSE - www.bseindia.com

Published on May 30, 2019

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