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In pursuance of the provisions of Section 73 of the Companies Act 1956, the company should obtain the listing and trading permission from the Stock Exchange if securities are proposed to be listed. For obtaining such permission, the company is required to furnish the following documents to the Stock Exchange/s-
- Listing Agreement to be executed on Rs. 20/- Special adhesive stamp duly filled along with the requisite Annual Listing Fees-
- Detailed listing application.
- Distribution schedule.
- Basis of allotment permission from the Regional Stock Exchange within one month from the closure of the issue failing which the interest @15% p.a. is to be paid on delayed period to the applicants.
- Copy of SEBI acknowledgement card along with 3 day's monitoring report
- Certificate from Auditors' in respect of shares which are under lock-in period, public issue expenses.
- Certificate from Registrars regarding the completion of dispatch of share certificates, refund orders, stock invests, payment of brokerage.
- Copy of advertisement published in respect of closure of the issue and basis of allotment approved by the regional Stock Exchange.
If a company is unable to fulfill the above mentioned requirements within the statutory period of 70 days, the Stock Exchange has to reject the listing of the company. Under these circumstances the company can apply to SEBI against the decision of the Stock Exchange of rejection to list the shares.
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