Who: Reliance Industries Limited
What: Signed revised Listing Agreements with BSE and NSE
When: 27 October 2015
Reliance Industries Limited (RIL) declared on 27 October 2015 that it signed the revised listing agreement with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as mandated under the newly introduced Listing Regulation notified by Securities and Exchange Board of India (SEBI).
With this, RIL became the first listed company to conform to SEBI norms.
Earlier, the Listing Agreement was a bilateral agreement between the stock exchange and the company, and SEBI did not have regulations on it. Therefore, each company’s agreement with stock exchange could be at variance and could lack the full force of SEBI’s rigour.
On 2 September 2015, SEBI notified the new Listing Regulations, which are effective from 1 December 2015.
As a part of the Listing Regulations, the securities market regulator mandated all existing listed companies to execute a fresh and simplified Listing Agreement with the stock exchange where they are listed, within six months of the notification date.