What does the Recognised Stock Exchange do ?, There is very less fact known about the work the recognised stock exchange do. There are various duties which has been delegated by the SEBI, which needs to be conducted by the recognised stock exchange in stipulated time period and the reporting has to be done to SEBI. Here I have mentioned the Duties and Obligations of the Recognised Stock for the Scheme of arrangement for listing. Now check more details regarding”What does the Recognised Stock Exchange do ?” from below….
What does the Recognised Stock Exchange do ?
Duties of Recognised Stock Exchange:
1. There is a duty given to the recognised stock exchange that they need to update the website regularly with the information which is provided by the listed entities. They need to make the information available to the investors, so that the investors come to know about the company and the regular functioning of the company. They need to update the reports, statements, any documents relevant for the stakeholders, filings or any other information which would affect the decision making of the investors. They need to publish the information in such a manner which is very much easy for common people to understand, it should be in organised manner, and it should be easily available with the investors (free to use).
2. The recognised stock exchange in the case of the scheme of arrangement needs to approve the draft scheme with the arrangement by giving the no objection certificate to the SEBI within the stipulated time period. The time period is as follows:
- Within 30 days of the receipt of the draft scheme of arrangement.
- Within 7 days of the receipt of satisfactory reply on clarification from listed entities.
3. Recognised Stock exchange needs to work along with the depositories to find that the listed entities are working along with the relevant provisions of the applicable laws to them, whether they are working along with the directions of the board, whether they are adhering to the court orders or notices or not.
4. The recognised stock exchange needs to make in the notice of the court or any tribunal in case of any observations or any objections or any suggestions which are beneficial for the stakeholders, at the time of draft approval of the scheme of arrangement.
5. The recognised stock exchange needs to monitor whether the listed entities are disclosing the relevant fact and figures in accordance with the Act or not. Whether they are complying with the provisions of the regulations. There are various reporting responsibilities on the stock exchange. They need to submit the report to the board mentioning the detailed analysis of the working of the listed entities and whether they have adhered to the law or not.
6. If the listed entities are not complying with the laws and regulations, the recognised stock exchange may from time to time impose on them the penalties or fines, may inspect the books or any other document or ask for any documents which may be relevant to find out the original facts of the transaction.
Must Read-
Hello sir I need latest updates on service tax can you provide