Hero MotoCorp Limited

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HeroMotoCorpLimited

POLICYONDISCLOSUREOFMATERIALEVENTS

BYTHELISTEDENTITYASPERSECURITIESANDEXCHANGEBOARDOFINDIA(LISTINGOBLIGATIONSANDDISCLOSUREREQUIREMENTS)

REGULATIONS,2015

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POLICYONDISCLOSUREOFMATERIALEVENTSBYTHELISTEDENTITY

1.IntroductionHero MotoCorp Limited (hereafter referred to as "HMCL" or "Company" in thisdocument) believes in promoting a fair, transparent, ethical and professional workenvironment. The Policy aims for disclosure of important andmaterial events of theCompanytotheStockExchange(s),wheretheequitysharesoftheCompanyarelisted,tostakeholdersincompliancewiththeprovisionsofRegulation30oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015(hereinafterreferredtoasthe “Listing Regulations”) and SEBI circular no. CIR/CFD/CMD/4/2015 datedSeptember9,2015(hereinafterreferredtoasthe“SEBIcircular”).ThePolicyshallcomeintoeffectfromDecember1,2015.2.PolicyObjectiveandGenesisRegulation30of theListingRegulationsmandates that every listed entity shallmakedisclosuresofanyeventsorinformationwhich,intheopinionoftheBoardofDirectorsofthelistedcompany,ismaterial.ListingRegulationsdividestheevents/informationintwocategories:

Events/information thathave tobenecessarilydisclosedwithoutapplyinganytestofmateriality

Events/information that need to be disclosed based on the application of theguidelinesformateriality

The test of materiality of events/information shall be applied on the basis of thefollowingcriteria:

(a) Theomissionofaneventorinformation,whichislikelytoresultindiscontinuityofalterationofeventorinformationalreadyavailablepublicly;or

(b) Theomissionofaneventorinformationis likelytoresult insignificantmarketreactionifthesaidomissioncametolightatalaterdate;or

(c) Incasewherethecriteriaspecifiedinsub‐clause(a)and(b)arenotapplicable,anevent/informationmaybe treatedasbeingmaterial if in theopinionof theboardofdirectorsoflistedentity,theevent/informationisconsideredmaterial.

AspertheListingRegulations– the listedentity shall frameapolicy fordeterminationofmateriality,basedon

criteriaspecified(asabove),dulyapprovedbyitsboardofdirectors, the Board of directors shall authorize one ormore KeyManagerial Personnel

(KMP)forthepurposeofdeterminingmaterialityofaneventorinformationandfor the purpose ofmaking disclosures to stock exchange(s) under this ListingRegulations.

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Accordinglythispolicyhasbeenframedfordeterminationofmateriality,toidentifyandauthorise KMP for the purpose of determiningmateriality and the Disclosures to bemadeincomplianceofRegulation30oftheListingRegulationsandtheSEBICircular.

3.AuthorityKey Managerial personnel (“KMP”) of the Company (as defined in sub‐section 51 ofsection2 of theCompaniesAct, 2013),mentionedhereunder, shall be entitled and isauthorized:

to take a view on thematerialityof an event or information that qualifies fordisclosureunderRegulation30oftheListingRegulations;

todecide theappropriate timeduringwhichsuchdisclosure is tobe filedwithStockExchanges,and

todecidethedetailsthatmaybefiledinthebestinterestofpresentandpotentialinvestors.

AllthemembersofSeniorManagementTeamandotherpersons(mentionedhereunderorsuchotherpersonsasmaybeappointedintheirplaceoratparwiththemorinthesimilar positions from time to time) are responsible and are obligated to informpromptlytheoccurrenceofmaterialevents(asmandatedintheattachedAnnexureA)and theminimuminformation(asmandated inAnnexureB), toMr.RaviSud,Sr.VicePresident‐FinanceoftheCompany(KMP).Mr.RaviSudshallarrangetoinformthesametotheStockExchanges.PresentlythemembersofSeniorManagementTeamoftheCompanyare:

Mr.RaviSud‐Sr.VicePresident&CFO Mr.VikramS.Kasbekar‐Sr.VicePresident,Headofoperations&Supplychain Mr.VijaySethi‐ChiefInformationOfficer&HeadCorporateSocialResponsibility Mr.MarkusBraunsperger‐ChiefTechnologyOfficer Mr.AshokBhasin‐HeadofSales,Marketing&CustomerCare(SMCC) Mr.SanjayJorapur‐ChiefHumanResourcesOfficer Mr. Neeraj Mathur‐ Vice President‐Strategic Sourcing and Supply Chain

Management Mr.DeepakMokashi‐VicePresident&HeadGlobalBusiness Mr.SanjayBhan‐BusinessHead,PartsBusiness Mr.HarjeetSingh‐VicePresident&HeadofGlobalRegulatory Mr.RajatBhargava‐HeadofStrategy&PerformanceTransformation

ForeachSubsidiary(includingthesubsidiarycompanyofthesubsidiarycompany),thepersonwhosenameismentionedagainstit(orsuchotherpersonsasmaybeappointedin their place from time to time and notified in this respect) will be responsible forpromptlyinformingtheoccurrenceofmaterialevents[referClause7(III)]ofthispolicyfor material events with respect to subsidiaries) and for providing the minimuminformation[whichisattachedherewithasAnnexureB]toallKMP,simultaneously.

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S.No. Subsidiary Responsibility1. HMCL(NA)Inc. Mr.RajatBhargava2. HMCMMAutoLimited Mr.RaviSud 3. HMCLNetherlandsB.V. Mr.RaviSud 4. HMCLColombiaS.A.S. Mr.RaviSud 5. HMCLNiloyBangladeshLimited Mr.RaviSud 6. HMCLAmericasInc. Mr.RajatBhargava4.IdentificationofMaterialityandEvents

1) EventsspecifiedinAnnexureA‐ParaAshallbedeemedtobematerialandhavetobenecessarilydisclosedwithoutapplyinganytestofmateriality.

2) EventsspecifiedinAnnexureA‐ParaBshouldbedisclosedifconsideredmaterialasperthetestofmaterialitydefinedinClause2ofthisPolicy.

Following criteria shall be considered for determination of materiality of events/information:

i. the omission of an event or information, which is likely to result indiscontinuityoralterationofeventorinformationalreadyavailablepublicly;or

ii. theomissionofaneventorinformationislikelytoresultinsignificantmarketreactionifthesaidomissioncametolightatalaterdate;

iii. Incasewherethecriteriaspecifiedinsub‐clauses(a)and(b)arenotapplicable,anevent/informationmaybetreatedasbeingmaterialifintheopinionoftheboardofdirectorsofcompany,theevent/informationisconsideredmaterial.

ForthepurposeofthisPolicyanyofthefollowingindividualeventorinformationshallbeconsideredtobesignificanttotheoperationsandperformanceoftheCompanyandbedeemedtobematerialandhenceneedtobereportedtothestockexchanges:

I. Events/informationtobebasedonFinancialImpact: list of events/information [out of the events/ information mentioned inAnnexureA ‐ParaB]whicharesignificant/materialevents, tobe reportedbasisfinancialimpact:i) anyindividualevent/informationthathasafinancial impactor is likelytohaveafinancialimpactof1%oraboveoftheConsolidatedTurnoveroftheCompanyasperthelastauditedannualfinancialstatement:a) Any postponement in the date of commencement of commercial

productionorcommercialoperationsofanyunit/division.b) Capacityaddition.c) Awarding, bagging/ receiving, amendment or termination of

awarded/baggedorders/contractsnotinthenormalcourseofbusiness.Disruption of operations of any one or more units or division of the

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company due to natural calamity (earthquake, flood, fire etc.), forcemajeureoreventssuchasstrikes,lockoutsetc.

d) Effect(s)arisingoutofchangeintheregulatoryframeworkapplicabletothecompany.

e) Granting, withdrawal, surrender, cancellation or suspension of keylicensesorregulatoryapprovals.

f) Regulatoryaction(s)withimpact.ii. anyindividualevent/informationinvolvinganamountofRs.100crores:

g) Loanagreement(s)(asaborrower)whicharebindingandnotinnormalcourseofbusiness)andrevision(s)oramendment(s)ortermination(s)thereof.

h) Giving of guarantees or indemnity or becoming a surety for any thirdparty.

iii. any individual event/information pertaining to adjudication of the

new/existing litigations/dispute/regulatory action that has a financialimpact of 2% or above of the average Profit before Tax (PBT) for last 3financial years. The disclosure shall be made only when the impact iscrystallized. The time of the crystallization shall be considered inaccordancewithapplicableAccountingStandardsandAccountingpolicyoftheCompany:i) Litigation(s)/dispute(s)/regulatoryaction(s)withimpact.

iv. anyindividualevent/informationinvolvinganamountasprescribedunder

Section143(12)oftheCompaniesAct,2013obligatingtheauditorsoftheCompanytoreportthemattertotheCentralGovernment.(Untilanyamountu/s143(12)oftheCompaniesAct,2013isprescribed,anamountofRs.50(fifty)lacormoreshallbeconsidered)j) Fraud/defaultsetc.bydirectors(otherthankeymanagerialpersonnel)oremployeesofcompany.

II. Events/informationtobebasedonnon‐financialimpact:• list of events/information [out of the events/ information mentioned in

AnnexureA‐ParaBwhicharesignificant/materialevents,tobereportedbasisnon‐financialimpact:

a) Commencementof commercial productionor commercial operationsof anyunit/division.

b) Productlaunch.

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c) Agreement(s)whicharebindingandnot innormal courseofbusiness) andrevision(s)oramendment(s)ortermination(s)thereof.

d) Changeinthegeneralcharacterornatureofbusinessbroughtaboutby

arrangementsforstrategic,technical,manufacturing,ormarketingtie‐up, adoptionofnewlinesofbusiness,or closureofoperationsofanyunit/division(entiretyorpiecemeal).

e) OptionstopurchasesecuritiesincludinganyESOP/ESPSScheme.

3) Any other information/event viz. major development that is likely to affectbusiness,e.g.

emergenceofnewtechnologies, expiryofpatents, anychangeofaccountingpolicythatmayhaveasignificantimpacton

theaccounts,etc.andbriefdetailsthereof,and any other information which is exclusively known to the Company

which may be necessary to enable the holders of securities of theCompanytoappraiseitspositionandtoavoidtheestablishmentofafalsemarketinsuchsecurities.

4) Without prejudice to the generality of para 1, 2& 3 above, the Companymaymakedisclosuresofevent/informationasspecifiedbySEBIfromtimetotime.

5) IncasewhereaneventoccursoraninformationisavailablewiththeCompany,which has not been indicated in para 1, 2, 3 & 4 above, but whichmay havematerial effect on it, the company is required tomake adequatedisclosures inregardthereof.

5. MinimumdisclosurestobemadeunderListingRegulationsWithin the overall framework of the above authority of KMPs, all disclosuresmadeunderListingRegulationsshallcontaintheminimuminformationasstatedin Annexure I of SEBI circular dated 9.9.2015 (Annexure B) being details thatneedtobeprovidedwhiledisclosingeventsgiveninAnnexureA‐ParaA&Bofthispolicy.

6. Guidanceonwhenanevent/informationhasoccurredGuidanceonwhenanevent/informationcanbesaidtohaveoccurredarestatedinAnnexureCoftheSEBIcircular.

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7. OthersI. DisseminationofInformation

a) Thepolicyshallbedisclosedonwebsiteofthecompany.b) The contact details of authorized Key Managerial Personnel shall be alsodisclosedtothestockexchange(s)andaswellasontheCompany`swebsite.

c) The company shall disclose on its website all such events or informationwhich has been disclosed to stock exchange(s) under Listing Regulations,and such disclosures shall be hosted on thewebsite of the company for aminimumperiodoffiveyearsandthereafterasperthearchivalpolicyofthecompany,asdisclosedonitswebsite.

II.Timingwhentodisclose WithinThirtyMinutesoftheconclusionofboardmeeting.a) Disclosurewith respect to events specified inAnnexureA ‐ ParaA ‐ sub‐

para4shallbemadewithinthirtyminutesof theconclusionof theboardmeeting.

Withintwentyfourhoursfromoccurrenceofeventa) Thecompanyshallfirstdisclosetostockexchange(s)allevents,asspecifiedinAnnexureA ‐PartA (exceptsubpara4)&B,or informationassoonasreasonably possible and not later than twenty four hours from theoccurrenceofeventorinformation:

b) Provided that in case the disclosure is made after twenty four hours ofoccurrenceoftheeventorinformation,thecompanyshall,alongwithsuchdisclosuresprovideexplanationfordelay.

Updatesonregularbasisc) TheCompanyshall,withrespecttodisclosuresreferredtoinRegulation30of the Listing Regulations, make disclosures updating materialdevelopmentsonaregularbasis,tillsuchtimetheeventisresolved/closed,withrelevantexplanations.

III. Events/informationwithrespecttosubsidiariesa) The Company shall disclose all events or information with respect to

subsidiarieswhicharematerialforthecompany.b) Eventsspecifiedonlyinpointno.1,5,6&11ofAnnexureA‐ParaAshall

be deemed to be material for the Company and have to be necessarilydisclosedwithoutapplyinganytestofmateriality.OthereventsspecifiedinAnnexure‐APara‐Ashallnotbedeemedtobematerialforthecompanyandneednotbedisclosed.

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c) Eventsspecified inAnnexureA ‐ParaBshouldbedisclosed ifconsideredmaterialinaccordancewiththetestofmaterialitymentionedinClause2ofthispolicy.

d) Sub‐clause 4 and 5 of Clause of this policy shall also apply to events and

informationwithrespecttosubsidiaries.

IV. QueriesbyStockExchangesa) Thecompanyshallprovidespecificandadequatereplytoallqueriesraisedbystockexchange(s)withrespecttoanyeventsorinformation.

b) Thecompanymayonitsowninitiativealso,confirmordenyanyreportedeventorinformationtostockexchange(s).

TheBoardofDirectorsmayreviewthispolicyonannualbasis.

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AnnexureA

DISCLOSURESOFEVENTSORINFORMATION[SeeRegulation30ofListingRegulations]

Thefollowingshallbeevents/information,uponoccurrenceofwhichlistedentityshallmakedisclosuretostockexchange(s):ParaAEvents which shall be disclosed without any application of the guidelines formaterialityasspecifiedinsub‐regulation(4)ofregulation(30):1. Acquisition(s) (including agreement to acquire), Scheme of Arrangement(amalgamation/merger/ demerger/restructuring), or sale or disposal of any unit(s),division(s)orsubsidiaryofthelistedentityoranyotherrestructuring.Explanation.‐Forthepurposeofthissub‐para,theword'acquisition'shallmean,‐(i)acquiringcontrol,whetherdirectlyorindirectly;or,(ii) acquiring or agreeing to acquire shares or voting rights in, a company, whetherdirectlyorindirectly,suchthat–(a) thelistedentityholdssharesorvotingrightsaggregatingtofivepercentormoreof

thesharesorvotingrightsinthesaidcompany,or;

(b) therehasbeenachangeinholdingfromthelastdisclosuremadeundersub‐clause(a)ofclause(ii)of theExplanationtothissub‐paraandsuchchangeexceedstwopercentofthetotalshareholdingorvotingrightsinthesaidcompany.

2. Issuance or forfeiture of securities, split or consolidation of shares, buyback ofsecurities, any restriction on transferability of securities or alteration in terms orstructure of existing securities including forfeiture, reissue of forfeited securities,alterationofcalls,redemptionofsecuritiesetc.3.RevisioninRating(s).4.OutcomeofMeetingsoftheboardofdirectors:ThelistedentityshalldisclosetotheExchange(s), within 30 minutes of the closure of the meeting, held to consider thefollowing:

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a)dividendsand/orcashbonusesrecommendedordeclaredorthedecisiontopassanydividendandthedateonwhichdividendshallbepaid/dispatched;

b)anycancellationofdividendwithreasonsthereof;c)thedecisiononbuybackofsecurities;d)thedecisionwithrespecttofundraisingproposedtobeundertakene) increase incapitalby issueofbonusshares throughcapitalization including thedateonwhichsuchbonussharesshallbecredited/dispatched;

f)reissueofforfeitedsharesorsecurities,ortheissueofsharesorsecuritiesheldinreserveforfutureissueorthecreationinanyformormannerofnewsharesorsecuritiesoranyotherrights,privilegesorbenefitstosubscribeto;

g)shortparticularsofanyotheralterationsofcapital,includingcalls;h)financialresults;i)decisiononvoluntarydelistingbythelistedentityfromstockexchange(s).

5. Agreements (viz. shareholder agreement(s), joint venture agreement(s), familysettlementagreement(s)(totheextentthat it impactsmanagementandcontrolof thelistedentity),agreement(s)/treaty(ies)/contract(s)withmediacompanies)whicharebinding and not in normal course of business, revision(s) or amendment(s) andtermination(s)thereof.6.Fraud/defaultsbypromoterorkeymanagerialpersonnelorbylistedentityorarrestofkeymanagerialpersonnelorpromoter.7. Change indirectors, keymanagerial personnel (ManagingDirector, ChiefExecutiveOfficer, Chief Financial Officer , Company Secretary etc.), Auditor and ComplianceOfficer.8.Appointmentordiscontinuationofsharetransferagent.9.Corporatedebtrestructuring.10.Onetimesettlementwithabank.11.ReferencetoBIFRandwinding‐uppetitionfiledbyanyparty/creditors.12. Issuance of Notices, call letters, resolutions and circulars sent to shareholders,debentureholdersorcreditorsoranyclassof themoradvertisedinthemediabythelistedentity.13.ProceedingsofAnnualandextraordinarygeneralmeetingsofthelistedentity.14.Amendmentstomemorandumandarticlesofassociationoflistedentity,inbrief.

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15. Schedule of Analyst or institutional investormeet and presentations on financialresultsmadebythelistedentitytoanalystsorinstitutionalinvestors;ParaBEventswhichshallbediscloseduponapplicationoftheguidelinesformaterialityreferredsub‐regulation(4)ofregulation(30):1.Commencementoranypostponement in thedateofcommencementofcommercialproductionorcommercialoperationsofanyunit/division.2.Changeinthegeneralcharacterornatureofbusinessbroughtaboutbyarrangementsfor strategic, technical, manufacturing, or marketing tie‐up, adoption of new lines ofbusinessorclosureofoperationsofanyunit/division(entiretyorpiecemeal).3.Capacityadditionorproductlaunch.4. Awarding, bagging/ receiving, amendment or termination of awarded/baggedorders/contractsnotinthenormalcourseofbusiness.5.Agreements(viz.loanagreement(s)(asaborrower)oranyotheragreement(s)whicharebindingandnotinnormalcourseofbusiness)andrevision(s)oramendment(s)ortermination(s)thereof.6.Disruptionofoperationsofanyoneormoreunitsordivisionofthelistedentityduetonaturalcalamity(earthquake,flood,fireetc.),forcemajeureoreventssuchasstrikes,lockoutsetc.7. Effect(s) arisingoutof change in the regulatory frameworkapplicable to the listedentity.8.Litigation(s)/dispute(s)/regulatoryaction(s)withimpact.9.Fraud/defaultsetc.bydirectors(otherthankeymanagerialpersonnel)oremployeesoflistedentity.10.OptionstopurchasesecuritiesincludinganyESOP/ESPSScheme.11.Givingofguaranteesorindemnityorbecomingasuretyforanythirdparty.12. Granting, withdrawal, surrender, cancellation or suspension of key licenses orregulatoryapprovals.

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ParaCAnyotherinformation/eventviz.majordevelopmentthatislikelytoaffectbusiness,e.g.emergenceofnewtechnologies,expiryofpatents,anychangeofaccountingpolicythatmay have a significant impact on the accounts, etc. and brief details thereof and anyother information which is exclusively known to the listed entity which may benecessarytoenabletheholdersofsecuritiesofthelistedentitytoappraiseitspositionandtoavoidtheestablishmentofafalsemarketinsuchsecurities.ParaDWithoutprejudicetothegeneralityofpara(A),(B)and(C)above,thelistedentitymaymakedisclosuresofevent/informationasspecifiedbytheBoardfromtimetotime.

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AnnexureB

AnnexureI(ofSEBICirculardated9.9.2015)A.Detailswhicha listedentityneeds todisclose for theevents thataredeemedtobematerialasspecifiedinParaAofPartAofScheduleIIIofListingRegulations1. Acquisition(s) (including agreement to acquire), Scheme of Arrangement

(amalgamation/ merger/ demerger/restructuring), or sale or disposal of anyunit(s),division(s)orsubsidiaryofthelistedentityoranyotherrestructuring:

1.1.Acquisition(includingagreementtoacquire):

a) nameofthetargetentity,detailsinbriefsuchassize,turnoveretc.;b) whether the acquisition would fall within related party transaction(s) and

whetherthepromoter/promotergroup/groupcompanieshaveanyinterestinthe entity being acquired? If yes, nature of interest and details thereof andwhetherthesameisdoneat“armslength”;

c) industrytowhichtheentitybeingacquiredbelongs;d) objects and effects of acquisition (including but not limited to, disclosure of

reasonsforacquisitionoftargetentity,ifitsbusinessisoutsidethemainlineofbusinessofthelistedentity);

e) brief details of any governmental or regulatory approvals required for theacquisition;

f) indicativetimeperiodforcompletionoftheacquisition;g) natureofconsideration‐whethercashconsiderationorshareswapanddetails

ofthesame;h) costofacquisitionorthepriceatwhichthesharesareacquired;i) percentage of shareholding / control acquired and / or number of shares

acquired;j) briefbackgroundabouttheentityacquiredintermsofproducts/lineofbusiness

acquired,dateofincorporation,historyoflast3yearsturnover,countryinwhichtheacquiredentityhaspresenceandanyothersignificantinformation(inbrief);

[Explanation: For the purpose of the above disclosures the term ‘acquisition’shallhavethesamemeaningasdefinedinexplanationofsub‐para(1)ofPara(A)ofPart(A)ofScheduleIIIofListingRegulations].

1.2.Amalgamation/Merger:

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a) nameoftheentity(ies)formingpartoftheamalgamation/merger,detailsinbriefsuchas,size,turnoveretc.;

b) whether the transaction would fall within related party transactions? If yes,whetherthesameisdoneat“armslength”;

c) areaofbusinessoftheentity(ies);d) rationaleforamalgamation/merger;e) incaseofcashconsideration–amountorotherwiseshareexchangeratio;f) briefdetailsofchangeinshareholdingpattern(ifany)oflistedentity.

1.3.De‐merger:

a) briefdetailsofthedivision(s)tobedemerged;b) turnoverofthedemergeddivisionandaspercentagetothetotalturnoverofthe

listedentityintheimmediatelyprecedingfinancialyear/basedonfinancialsofthelastfinancialyear;

c) rationalefordemerger;d) briefdetailsofchangeinshareholdingpattern(ifany)ofallentities;e) incaseofcashconsideration–amountorotherwiseshareexchangeratio;f) whetherlistingwouldbesoughtfortheresultingentity.

1.4.Saleordisposalofunit(s)ordivision(s)orsubsidiaryofthelistedentity:

a) theamountandpercentageoftheturnoverorrevenueorincomeandnetworthcontributedbysuchunitordivisionofthelistedentityduringthelastfinancialyear;

b) dateonwhichtheagreementforsalehasbeenenteredinto;c) theexpecteddateofcompletionofsale/disposal;d) considerationreceivedfromsuchsale/disposal;e) briefdetailsofbuyersandwhetheranyof thebuyersbelong to thepromoter/

promotergroup/groupcompanies.Ifyes,detailsthereof;f) whether the transaction would fall within related party transactions? If yes,

whetherthesameisdoneat“armslength”;g) additionally, in case of a slump sale, indicative disclosures provided for

amalgamation/merger,shallbedisclosedbythelistedentitywithrespecttosuchslumpsale.

Forthepurposeofthissub‐clause,"slumpsale"shallmeanthetransferofoneormoreundertakings,asaresultofthesaleforalumpsumconsideration,withoutvaluesbeingassignedtotheindividualassetsandliabilitiesinsuchsales.

1.5.OtherRestructuring:

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a) detailsandreasonsforrestructuring;b) quantitativeand/orqualitativeeffectofrestructuring;c) details of benefit, if any, to the promoter/promoter group/group companies

fromsuchproposedrestructuring;d) briefdetailsofchangeinshareholdingpattern(ifany)ofallentities.

2. Issuance or forfeiture of securities, split or consolidation of shares, buyback of

securities, any restriction on transferability of securities or alteration in terms orstructure of existing securities including forfeiture, reissue of forfeited securities,alterationofcalls,redemptionofsecuritiesetc.

2.1.Issuanceofsecurities:

a) typeofsecuritiesproposedtobeissued(viz.equityshares,convertiblesetc.);b) type of issuance (further public offering, rights issue, depository receipts

(ADR/GDR),qualifiedinstitutionsplacement,preferentialallotmentetc.);c) totalnumberofsecuritiesproposedtobe issuedor thetotalamount forwhich

thesecuritieswillbeissued(approximately);d) in case of preferential issue the listed entity shall disclose the following

additionaldetailstothestockexchange(s):

i. namesoftheinvestors;ii. post allotment of securities ‐ outcome of the subscription, issue price /

allottedprice(incaseofconvertibles),numberofinvestors;iii. incaseofconvertibles‐intimationonconversionofsecuritiesoronlapse

ofthetenureoftheinstrument;

e) in case of bonus issue the listed entity shall disclose the following additionaldetailstothestockexchange(s):

i. whether bonus is out of free reserves created out of profits or sharepremiumaccount;

ii. bonusratio;iii. detailsofsharecapital‐preandpostbonusissue;iv. free reserves and/ or share premium required for implementing the

bonusissue;v. freereservesand/orsharepremiumavailableforcapitalizationandthe

dateasonwhichsuchbalanceisavailable;vi. whethertheaforesaidfiguresareaudited;vii. estimated date by which such bonus shares would becredited/dispatched;

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f) in caseof issuanceofdepository receipts (ADR/GDR)orFCCB the listedentityshalldisclosefollowingadditionaldetailstothestockexchange(s):

i. name of the stock exchange(s) where ADR/GDR/FCCBs are listed(opening–closingstatus)/proposedtobelisted;

ii. proposedno.ofequitysharesunderlyingtheADR/GDRoronconversionofFCCBs;

iii. proposeddateofallotment,tenure,dateofmaturityandcouponoffered,ifanyofFCCB’s;

iv. issue price of ADR/GDR/FCCBs (in terms of USD and in INR afterconsideringconversionrate);

v. changeintermsofFCCBs,ifany;vi. details of defaults, if any, by the listed entity in payment of coupon on

FCCBs & subsequent updates in relation to the default, including thedetailsofthecorrectivemeasuresundertaken(ifany);

g) incaseofissuanceofdebtsecuritiesorothernonconvertiblesecuritiesthelistedentityshalldisclosefollowingadditionaldetailstothestockexchange(s):

i. sizeoftheissue;ii. whether proposed to be listed? If yes, name of the stock

exchange(s);iii. tenureoftheinstrument‐dateofallotmentanddateofmaturity;iv. coupon/interest offered, schedule of payment of coupon/interest

andprincipal;v. charge/security,ifany,createdovertheassets;vi. special right/interest/privileges attached to the instrument and

changesthereof;vii. delay in payment of interest / principal amount for a period of

morethanthreemonthsfromtheduedateordefault inpaymentofinterest/principal;

viii. details of any letter or comments regarding payment/non‐payment of interest, principal on due dates, or any othermatterconcerningthesecurityand/ortheassetsalongwithitscommentsthereon,ifany;

ix. detailsof redemptionofpreferenceshares indicating themannerof redemption (whether out of profits or out of fresh issue) anddebentures;

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h) anycancellationor terminationofproposal for issuanceof securities includingreasonsthereof.

2.2.Split/consolidationofshares:

a) split/consolidationratio;b) rationalebehindthesplit/consolidation;c) preandpostsharecapital–authorized,paid‐upandsubscribed;d) expectedtimeofcompletion;e) classofshareswhichareconsolidatedorsubdivided;f) numberofsharesofeachclasspreandpostsplitorconsolidation;g) numberof shareholderswhodidnot get any shares in consolidationand their

pre‐consolidationshareholding.

2.3.Buybackofsecurities:

a) numberofsecuritiesproposedforbuyback;b) numberof securitiesproposed forbuybackasapercentageofexistingpaidup

capital;c) buybackprice;d) actual securities in number and percentage of existing paid up capital bought

back;e) pre&postshareholdingpattern.

2.4.Anyrestrictionontransferabilityofsecurities:

a) authorityissuingattachmentorprohibitoryorders;b) briefdetailsandreasonsforattachmentorprohibitoryorders;c) nameofregisteredholdersagainstwhomrestrictionontransferabilityhasbeen

placed;d) totalnumberofsecuritiessoaffected;e) distinctivenumbersofsuchsecuritiesifapplicable;f) periodforwhichorderwouldbeapplicable(ifstated).

2.5.Anyaction,whichwillresultinalterationofthetermsorstructureofanyexistingsecurities,including,butnotlimitedto:

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a) forfeitureofshares;b) reissueofforfeitedsharesorsecurities,ortheissueofsharesorsecuritiesheld

inreserveforfutureissueorthecreationinanyformormannerofnewsharesorsecuritiesoranyotherrights,privilegesorbenefitstosubscribeto;

c) proposaltoissueanyclassofsecurities;d) alterationsofcapital,includingcalls;e) changeinthetermsregardingredemption/cancellation/retirementinwholeor

inpartofanysecuritiesissuedbythelistedentity.

3.RevisioninRating(s)The listed entity shall notify the stock exchange(s), the details of any new rating orrevision in rating assigned from a credit rating agency to anydebt instrument of thelisted entity or to any fixed deposit programme or to any scheme or proposal of thelisted entity involvingmobilization of fundswhether in India or abroad. In case of adownwardrevisioninratings,thelistedentityshallalsointimatethereasonsprovidedbytheratingagencyforsuchdownwardrevision.4.Outcomeofmeetingsoftheboardofdirectors:ThelistedentityshallintimatetotheExchange(s),within30minutesoftheclosureofthemeeting,heldtoconsiderordecidethefollowing:4.1. dividendsand/orcashbonusesrecommendedordeclaredorthedecisiontopass

anydividendandthedateonwhichdividendshallbepaid/dispatched;4.2. anycancellationofdividendwithreasonsthereof;4.3. thedecisiononbuybackofsecurities;4.4. thedecisionwithrespecttofundraisingproposedtobeundertaken;4.5. increaseincapitalbyissueofbonussharesthroughcapitalizationincludingthe

dateonwhichsuchbonusshareswouldbecredited/dispatched;4.6. reissueofforfeitedsharesorsecurities,ortheissueofsharesorsecuritiesheld

inreserveforfutureissueorthecreationinanyformormannerofnewsharesorsecuritiesoranyotherrights,privilegesorbenefitstosubscribeto;

4.7. shortparticularsofanyotheralterationsofcapital,includingcalls;4.8. financialresults;4.9. decisiononvoluntarydelistingbythelistedentityfromstockexchange(s);The intimationof outcomeofmeetingof theboardof directors shall also contain thetimeofcommencementandconclusionofthemeeting.5. Agreements (viz. shareholder agreement(s), joint venture agreement(s), familysettlementagreement(s)(totheextentthat it impactsmanagementandcontrolof thelisted entity), agreement(s)/treaty(ies)/contract(s)withmedia companies)which are

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binding and not in normal course of business, revision(s) or amendment(s) andtermination(s)thereof:5.1. name(s)ofpartieswithwhomtheagreementisentered;5.2. purposeofenteringintotheagreement;5.3. shareholding,ifany,intheentitywithwhomtheagreementisexecuted;5.4. significant termsof theagreement (inbrief) special rights likeright toappoint

directors, firstrighttosharesubscriptionincaseof issuanceofshares,righttorestrictanychangeincapitalstructureetc.;

5.5. whether, the said parties are related to promoter/promoter group/ groupcompaniesinanymanner.Ifyes,natureofrelationship;

5.6. whether the transaction would fall within related party transactions? If yes,whetherthesameisdoneat“armslength”;

5.7. incaseofissuanceofsharestotheparties,detailsofissueprice,classofsharesissued;

5.8. anyotherdisclosuresrelatedtosuchagreements,viz.,detailsofnomineeontheboardofdirectorsofthelistedentity,potentialconflictofinterestarisingoutofsuchagreements,etc;

5.9. in case of termination or amendment of agreement, listed entity shall discloseadditionaldetailstothestockexchange(s):

a)nameofpartiestotheagreement;b)natureoftheagreement;c)dateofexecutionoftheagreement;d) details of amendment and impact thereof or reasons of terminationandimpactthereof.

6.Fraud/Defaultsbypromoterorkeymanagerialpersonnelorbythe listedentityorarrestofkeymanagerialpersonnelorpromoter:

6.1.Atthetimeofunearthingoffraudoroccurrenceofthedefault/arrest:

a)natureoffraud/default/arrest;b)estimatedimpactonthelistedentity;c)timeofoccurrence;d)person(s)involved;e)estimatedamountinvolved(ifany);f) whether such fraud/default/arrest has been reported to appropriateauthorities.

6.2. Subsequently intimate the stock exchange(s) further details regarding thefraud/default/arrestincluding:

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a)actualamountinvolvedinthefraud/default(ifany);b) actual impact of such fraud /default on the listed entity and itsfinancials;andc) corrective measures taken by the listed entity on account of suchfraud/default.

7. Change indirectors, keymanagerial personnel (ManagingDirector, ChiefExecutiveOfficer, Chief Financial Officer, Company Secretary etc.), Auditor and ComplianceOfficer:

7.1. reason for change viz. appointment, resignation, removal, death orotherwise;

7.2. dateofappointment/cessation(asapplicable)&termofappointment;7.3. briefprofile(incaseofappointment);7.4. disclosureofrelationshipsbetweendirectors(incaseofappointmentofa

director).8.Appointmentordiscontinuationofsharetransferagent:

8.1. reasonforappointmentordiscontinuation;8.2. dateonwhichabovewouldbecomeeffective.

9.Corporatedebtrestructuring(“CDR”):

9.1. whether CDR is voluntary and reasons for opting or referred bylenders/creditors;

9.2. detailsoftheloantobesubjectedtorestructuringunderCDR;9.3. briefdetailsoftheCDRproposal(ifany);9.4. thefollowingupdatestobeprovidedatthetimeoftheexecutionandat

variousstagesoftheimplementationoftheCDRscheme;a) upon execution of any agreement in relation to the CDR proposal,disclose details such as date of execution, parties to the agreement andprincipalterms;b)detailsoffinalCDRpackageasapprovedbyRBIandthelenders;c)lendersinvolved;d) brief summary of theCDR scheme includingdetails of the securities,interest payment, repayment schedule, negative and other restrictivecovenants.

10.Onetimesettlement(OTS)withaBank:

10.1. reasonsforoptingforOTS;

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10.2. briefsummaryoftheOTS.11.ReferencetoBIFRandwinding‐uppetitionfiledbyanyparty/creditors:

11.1. reasonsforsuchareference/petition;11.2. impactofsuchreference/petitiononlistedentity.

12. Issuance of notices, call letters, resolutions and circulars sent to shareholders,

debentureholdersorcreditorsoranyclassofthemoradvertisedinthemediabythelistedentityandthefollowing:

12.1. dateofnotice/callletters/resolutionsetc.;12.2. briefdetailsviz.agenda(ifany)proposedtobetakenup,resolutiontobe

passed,mannerofapprovalproposedetc.13. Proceedings of annual and extraordinary general meetings of the listed entity

andthefollowingdetailsinbrief:

13.1. dateofthemeeting;13.2. briefdetailsofitemsdeliberatedandresultsthereof;13.3. mannerofapprovalproposedforcertainitems(e‐votingetc.).

14. Amendmentstomemorandumandarticlesofassociationoflistedentity,inbrief.15. Scheduleofanalystorinstitutionalinvestormeetandpresentationsonfinancial

resultsmadebythelistedentitytoanalystsorinstitutionalinvestors.B.Detailswhichalistedentityneedtodiscloseforeventsonwhichthelistedentitymayapplymateriality in termsofParaBofPartAofSchedule IIIofListingRegulationsofListingRegulations1. Commencement or any postponement in the date of commencement of

commercialproductionorcommercialoperationsofanyunit/division:

Thelistedentityshallnotifythestockexchange(s)regardingthecommencementof commercial production or the commencement of commercial operations ofanyunit/division.Incaseswherethe listedentityhasmadeprior intimationofdateofcommencementofcommercialproductionoroperations,thelistedentityshall be required to disclose details in case of postponement of the date ofcommencement.

2. Changeinthegeneralcharacterornatureofbusinessbroughtaboutby:

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2.1.Arrangementsforstrategic,technical,manufacturing,ormarketingtie‐up:a) Agreement/jointventure(JV)withcompanies:

i. nameoftheentity(ies)withwhomagreement/JVissigned;ii. areaofagreement/JV;iii. domestic/international;iv. shareexchangeratio/JVratio;v. scopeofbusinessoperationofagreement/JV;vi. detailsofconsiderationpaid/receivedinagreement/JV;vii. significanttermsandconditionsofagreement/JVinbrief;viii. whether the acquisition would fall within related party

transactions andwhether thepromoter/promoter group/ groupcompanies have any interest in the entity being acquired? If yes,nature of interest and details thereof and whether the same isdoneat“armslength;

ix. sizeoftheentity(ies);x. rationaleandbenefitexpected.

b) In the event that any such arrangement is calledoff for any reason, the

sameshallbedisclosedalongwiththereasonsforcallingofftheproposal.

2.2. Adoptionofnewline(s)ofbusiness:a)industryorareatowhichthenewlineofbusinessbelongsto;b)expectedbenefits;c)estimatedamounttobeinvested.

2.3. Closureofoperationsofanyunit/division‐(entiretyorpiecemeal):

a) date of such binding agreement, if any, entered for sale of such

unit/division,ifany;b) amount & percentage of turnover or revenue or income and net

worth of the listed entity contributed by such unit or divisionduringthelastfinancialyear;

c) dateofclosureorestimatedtimeofclosure;d) reasonsforclosure.

3. Capacityadditionorproductlaunch

3.1. Capacityaddition:a) existingcapacity;b) existingcapacityutilization;c) proposedcapacityaddition;

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d) periodwithinwhichtheproposedcapacityistobeadded;e) investmentrequired;f) modeoffinancing;g) rationale.

3.2. Productlaunch:

a) nameoftheproduct;b) dateoflaunch;c) categoryoftheproduct;d) whethercaterstodomestic/internationalmarket;e) nameofthecountriesinwhichtheproductislaunched(incaseof

international).4. Awarding, bagging/ receiving, amendment or termination of awarded/bagged

orders/contracts,notinthenormalcourseofbusiness:

4.1. Awarding of order(s)/contract(s): Only important terms and conditions whichmaybeasunderneedstobedisclosed:

a) nameoftheentitytowhichorder(s)/contract(s)isawarded;b) whether order(s) / contract(s) is awarded to domestic/

internationalentityc) significant termsandconditionsoforder(s)/contract(s)awarded,

inbrief;d) timeperiod,ifany,associatedwiththeorder(s)/contract(s);e) broad commercial consideration or size of theorder(s)/contract(s);f) whether the promoter/ promoter group/group companies have

any interest in that entity to whom the order(s)/contract(s) isawarded?IfYes,natureofinterestanddetailsthereof;

g) whetherthesamewould fallwithinrelatedpartytransactions? Ifyes,whetherthesameisdoneat“armslength”.

4.2. Bagging/Receiving of orders/contracts: Only important terms and

conditionswhichmaybeasunderneedstobedisclosed:a) nameoftheentityawardingtheorder(s)/contract(s);b) significant terms and conditions of order(s)/contract(s) awarded

inbrief;c) whether order(s) / contract(s) have been awarded bydomestic/ internationalentity;d) natureoforder(s)/contract(s);

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e) whetherdomesticorinternational;f) timeperiodbywhichtheorder(s)/contract(s)istobeexecuted;g) broadconsiderationorsizeoftheorder(s)/contract(s);h) whether thepromoter/promotergroup/groupcompanieshave

anyinterestintheentitythatawardedtheorder(s)/contract(s)?Ifyes,natureofinterestanddetailsthereof;

i) whether the order(s)/contract(s)would fall within related partytransactions?Ifyes,whetherthesameisdoneat“armslength”.

4.3. Amendmentorterminationoforders/contracts:

a) nameofpartiestotheorder(s)/contract(s);b) natureoftheorder(s)/contract(s);c) dateofexecutionoftheorder(s)/contract(s)d) details of amendment or reasons for terminations and impact

thereof(totheextentpossible);5. Agreements(viz. loanagreement(s)(asaborrower)oranyotheragreement(s)

which are binding and not in normal course of business, revision(s) oramendment(s)andtermination(s)thereof:Onlyimportanttermsandconditionswhichmaybeasunderneedstobedisclosed:

a) name(s)ofpartieswithwhomtheagreementisentered;b) purposeofenteringintotheagreement;c) sizeofagreement;d) shareholding,ifany,intheentitywithwhomtheagreementisexecuted;e) significant terms of the agreement (in brief) special rights like right to

appointdirectors, first right to share subscription in caseof issuanceofshares,righttorestrictanychangeincapitalstructureetc.;

f) whether,thesaidpartiesarerelatedtopromoter/promotergroup/groupcompaniesinanymanner.Ifyes,natureofrelationship;

g) whether the transactionwould fallwithin related party transactions? Ifyes,whetherthesameisdoneat“armslength”;

h) incaseofissuanceofsharestotheparties,detailsofissueprice,classofsharesissued;

i) in case of loan agreements, details of lender, nature of the loan, totalamount of loan granted, total amount outstanding, date of execution oftheloanagreement/sanctionletter,detailsofthesecurityprovidedtothelendersforsuchloan;

j) anyotherdisclosuresrelatedtosuchagreements,viz.,detailsofnomineeontheboardofdirectorsofthelistedentity,potentialconflictofinterestarisingoutofsuchagreements,etc;

k) in case of termination or amendment of agreement, listed entity shalldiscloseadditionaldetailstothestockexchange(s):

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i. nameofpartiestotheagreement;ii. natureoftheagreement;iii. dateofexecutionoftheagreement;iv. details of amendment and impact thereof or reasons of

terminationandimpactthereof.6. Disruptionofoperationsofanyoneormoreunitsordivisionofthelistedentity

due to natural calamity (earthquake, flood, fire etc.), force majeure or eventssuchasstrikes,lockoutsetc.:

6.1. Atthetimeofoccurrence:

a) expectedquantumofloss/damagecaused;b) whether loss/damage covered by insurance or not including

amount;c) estimated impact on the production/operations in case of strikes/lockouts;d) factory/unit where the strike/lock out takes place including

reasonsforsuchstrike.6.2. Regularly,tillcompletenormalcyisrestored:

a) insuranceamountclaimedandrealizedbythelistedentityfortheloss/damage;

b) theactualamountofdamagecausedduetothenaturalcalamityorotherforcemajeureevents;

c) details of steps taken to restore normalcy and the impact of thenatural calamity/other force majeure events on production orservice,financialsoftheentity.

7. Effect(s) arising out of change in the regulatory framework applicable to the

listedentity.8. Litigation(s) / dispute(s) / regulatory action(s) with impact: The listed entity

shallnotifythestockexchange(s)uponitoritskeymanagementpersonneloritspromoter or ultimate person in control becoming party to any litigation,assessment, adjudication, arbitration or dispute in conciliation proceedings oruponinstitutionofanylitigation,assessment,adjudication,arbitrationordisputeincluding any ad‐interim or interim orders passed against or in favour of thelisted entity, the outcome of which can reasonably be expected to have animpact.

8.1. Atthetimeofbecomingtheparty:

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a) briefdetailsoflitigationviz.name(s)oftheopposingparty,court/tribunal/agency where litigation is filed, brief details ofdispute/litigation;

b) expected financial implications, if any, due to compensation,penaltyetc.;

c) quantumofclaims,ifany;

8.2. Regularlytillthelitigationisconcludedordisputeisresolved:a) thedetailsofanychangeinthestatusand/oranydevelopmentin

relationtosuchproceedings;b) in the caseof litigationagainstkeymanagementpersonnelor its

promoter orultimateperson in control, regularlyprovidedetailsofanychangeinthestatusand/oranydevelopmentinrelationtosuchproceedings;

c) in the event of settlement of the proceedings, details of suchsettlement including‐terms of the settlement, compensation/penaltypaid(ifany)andimpactofsuchsettlementonthefinancialpositionofthelistedentity.

9. Frauds/ defaults by directors (other than key managerial personnel) or

employeesofthelistedentity:9.1. Atthetimeofunearthingoffraudoroccurrenceofthedefault/arrest:

a) natureoffraud/default/arrest;b) estimatedimpactonthelistedentity;c) timeofoccurrence;d) person(s)involved;e) estimatedamountinvolved(ifany);f) whethersuchfraudhasbeenreportedtoappropriateauthorities.

9.2. Subsequentlyintimatethestockexchange(s)furtherdetailsregardingthe

fraud/defaultincluding:a) actualamountinvolvedinthefraud/default(ifany);b) actual impact of such fraud /default on the listed entity and its

financials;c) correctivemeasurestakenbythe listedentityonaccountofsuch

fraud/default.10. Options to purchase securities (including any Share Based Employee Benefit

(SBEB)Scheme)atthetimeofinstitutingtheschemeandvestingorexerciseofoptions:

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a) briefdetailsofoptionsgranted;b) whethertheschemeisintermsofSEBI(SBEB)Regulations,2014

(ifapplicable);c) totalnumberofsharescoveredbytheseoptions;d) pricingformula;e) optionsvested;f) timewithinwhichoptionmaybeexercised;g) optionsexercised;h) moneyrealizedbyexerciseofoptions;i) thetotalnumberofsharesarisingasaresultofexerciseofoption;j) optionslapsed;k) variationoftermsofoptions;l) briefdetailsofsignificantterms;m) subsequentchangesorcancellationorexerciseofsuchoptions;n) diluted earnings per share pursuant to issue of equity shares on

exerciseofoptions.11. Givingofguaranteesorindemnityorbecomingasuretyforanythirdparty:

a) nameof party forwhich such guarantees or indemnity or suretywasgiven;

b) whether the promoter/ promoter group/ group companies haveany interest in this transaction? If yes, nature of interest anddetailsthereofandwhetherthesameisdoneat“armslength”;

c) briefdetailsofsuchguaranteeorindemnityorbecomingasuretyviz.briefdetailsofagreemententered(ifany)includingsignificanttermsandconditions,includingamountofguarantee;

d) impactofsuchguaranteesorindemnityorsuretyonlistedentity.12. Granting, withdrawal, surrender, cancellation or suspension of key licenses or

regulatoryapprovals:

a) nameoftheregulatoryorlicensingauthority;b) brief details of the approval/license obtained/ withdrawn/

surrendered;c) impact/relevanceofsuchapproval/licensetothelistedentity;d) withdrawal/cancellationorsuspensionoflicence/approvalbythe

regulatory or licensing authority, with reasons for such action,estimatedimpact(monetaryorotherwise)onthelistedentityandpenalty,ifany;

e) periodforwhichsuchapproval/licenseis/wasvalid;f) Subsequently,thelistedentityshall informthestockexchange(s),

the actual impact (monetary or otherwise) alongwith corrective

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actions taken by the listed entity pursuant to the withdrawal,cancellationorsuspensionofthekeylicense/approval.

AnnexureCAnnexureII(ofSEBICircular9.9.2015)

Guidanceonwhenanevent/informationhasoccurred1. The listed entity may be confronted with the question as to when an

event/informationcanbesaidtohaveoccurred.2. Incertaininstances,theanswertoabovequestionwoulddependuponthestage

ofdiscussion,negotiationorapprovaland inother instanceswhere there isnosuch discussion, negotiation or approval required viz. in case of naturalcalamities, disruptions etc., the answer to the above question would dependuponthetimingwhenthelistedentitybecameawareoftheevent/information.

2.1. Intheformer,theevents/informationcanbesaidtohaveoccurredupon

receipt of approval of Board ofDirectors e.g. further issue of capital byrights issuance and in certain events/information after receipt ofapprovalofbothi.e.BoardofDirectorsandShareholders.

However,consideringthepricesensitivityinvolved,forcertaineventse.g.decision on declaration of dividends etc., disclosure shall be made onreceipt of approval of the event by the Board of Directors, pendingShareholder’sapproval.

2.2. Inthelatter,theevents/informationcanbesaidtohaveoccurredwhena

listedentitybecomesawareoftheevents/information,orassoonas,anofficeroftheentityhas,oroughttohavereasonablycomeintopossessionoftheinformationinthecourseoftheperformanceofhisduties.

Here, the term ‘officer’ shall have the samemeaningasdefinedunder theCompaniesAct,2013andshallalsoincludepromoterofthelistedentity.