The main reason for the introduction of the Listing Regulation was to streamline all the rules relating to all securities, so that it becomes convenient for companies to follow one set of rules instead of following two regulatory rules, and also to avoid the confusion that occurs when two regulations overlap. The introduction of a new regulatory framework has also improved the disclosure process at SEBI, as more and more companies are under strict control of the regulatory mechanism and, as a result, the process of companies complying with the rules of the Securities and Exchange Administration Board (SEBI) has improved. With the introduction of the list settlement, contractual obligations have been transformed into a legal requirement that confers legal recognition on the provisions. Secondly, the adoption of a uniform regime for the requirements of different securities listing agreements. Regulations 23(4) and 31A are expected to come into force, under which ordinary resolution should refrain, instead of a specific decision, in the case of all material transactions with related parties and related persons, in accordance with the provisions of the Companies Act, 2013. And the reclassification of promoters as public shareholders in different circumstances. The regulation has been transformed into a consolidated form to make all the agreements listed a single structured document for simple referencing. The listing regulations have been divided into two parts, namely (a) the substantive provisions that have been incorporated into the main part of the regulations; (b) the rules of procedure, in the form of an annex to the rules. [1] On 2 September 2015, the Security and Exchange Board of India (SEBI) informed the Security and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. (Listing Regulations 2015). The listing rules apply to listed companies.
Article 2(52) of the Law on shares provides that listed companies and all companies which have listed their securities are on a sub-authorised stock exchange and that, consequently, the listing rules are to be applied to them. The main objective of the implementation of this regulation was first of all to align the listing agreement with the Companies Act 2013. “Corporate governance aims to maintain the balance between economic and social objectives and between individual and community objectives.
