All Listed Companies

 

Dear Sir/Madam,

 Sub.: Frequent change of names by listed companies

 The SEBI vide its circular no. SEBI/MRD/Policy/AT/Cir-20/2004 dated 30^th April, 2004 has advised all the Stock Exchanges to amend the Listing Agreement. Accordingly, clause 32 of the Listing Agreement has been amended to include (in addition to the existing clause 32) the following:

 “A listed company which decides to change its name shall also be required to comply with the following conditions:

 

• A time period of atleast 1 year should have elapsed from the last name change.

 

• Atleast 50% of its total revenue in the preceding 1-year period should have been accounted for by the new activity suggested by the new name”.

 

The new name along with the old name shall be disclosed through the web site of the Stock Exchange and also through the EDIFAR website for a continuous period of one year, from the date of the last name change.