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June 2010

SEBI has issued Circular No. CFD/DCR/5/2010, dated 7-5-2010 for making Annual Reports of listed companies easily accessible

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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Part D : COMPANY LAW


49 SEBI has issued Circular No. CFD/DCR/5/2010, dated
7-5-2010 for making Annual Reports of listed companies easily accessible

Pursuant to the decision to discontinue the EDIFAR site,
SEBI, vide its Circular No. CIR/CFD/DCR/3/2010, dated April 16, 2010, has
advised all Stock Exchanges to carry out amendments to the Equity Listing
Agreement viz. omission of Clause 51 from the Listing Agreement.

Prior to its omission, Clause 51 of the Equity Listing
Agreement required listed companies to inter alia upload full version of Annual
Report on EDIFAR website. However with discontinuation of EDIFAR site, it has
become necessary to ensure that Annual Reports of listed companies are
available/easily accessible to investors on alternative sites. Accordingly all
Stock Exchanges are advised to make the Annual Reports for the financial year
2009-10 onwards, submitted to Stock Exchange as per Clause 31 of Equity Listing
Agreement, available on their respective websites.

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