Clarification needed on Clause 16 of Listing Agreement

[CS Ravishankar K.V]

Dear All,

I need interpretation on clause 16 of the Listing agreement.

It says, a company should close its book by giving 7 days prior notice at the time of AGM, if it has not closed its books at any time during the year.

In case, if the company has closed its books at some time during the year, it is compulsory to close the books at the time of AGM.

Nowhere in the clause(or listing agreement) stated that the book closure should be done for the purpose of ascertaining the shareholders who are entitled to receive the notice of AGM.

Hence, can a company do its book closure before 1 day to its AGM in order to comply with listing agreement?

Regards,

Ravishankar

[Sridevi B.N]

yes u can do so.

 

one week before sending the AGM notice v will take list of share holders who are entitle to receive notice and send notice.

 

Regards,

Sridevi.B.N

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[VIKAS GUPTA]

Hello Madam,

Practically if we think that if the Company closes its books for ascertaining list of members to whom notice should be given but 1 day before it seems not practical...

As we send the notice is 25 days before the date of agm...

 

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THANKYOU
CS VIKAS GUPTA
Company Secretary
Shree Krishna Paper Mills & Industries Ltd.
vikas...@skpmil.com
9953620278

[yoganand l]

in 99% of the cases, the day of the AGM is also present in the book closure slot. this is to avoid confusion as to who are entitled to voting rights at the AGM.. therefore it would be prudent to close the books two days before the AGM and the AGM day so that you are ready with the shareholders list as on the date of AGM.

 

regards,

yogan.

[VIKAS GUPTA]

Hello Sir,

I agree with your point sir. But it is not practical that book closure is for ascertaining the list of shareholders.

Can anyone tell me in this regard if our company announce book closure is on 30th July and publish it in newspaper on the same day. Can we take a note of this resolution in the forthcoming board meeting?

 

[Vivek Aggarwal]

Dear Vikas

 

Yes, you can do so.

Regards

Vivek Aggarwal

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From: VIKAS GUPTA <vickyp...@gmail.com>
To: csmy...@googlegroups.com
Sent: Wed, 4 August, 2010 2:12:58 PM
Subject: Re: [CSMysore] Clarification needed on Clause 16 of Listing Agreement

[CS Ravishankar K.V]

Thank you all for the suggestions

Regards

Ravishankar K V
+91 97318 62870

[VIKAS GUPTA]

thankyou vivek sir...