Material Subsidiary Listing Agreement

The concept of “significant transaction or agreement” used for the compliance of unlisted subsidiaries, i.e. any transaction or agreement that exceeds or is likely to exceed 10% of total revenues or total expenses or the total amount of unlisted for the previous year. If the sale of the units of the equipment subsidiary or the sale/sale/leasing of equipment thieves` assets trigger the above limits, The proposal, after being approved by the audit committee and the board of directors of the companies concerned, must also be submitted to the shareholders of the company or subsidiary concerned at a general meeting or by postal vote, within the meaning of the Listing Agreement and/or the Companies Act 2013 and its rules or rules, which require the approval of these shareholders by decision of the company or subsidiary concerned, if applicable. The proposal must be reviewed by the audit committee and the board of directors of the holding company as well as the subsidiary and decision concerned in accordance with the provisions of Clause 49 of the Listing Agreement and Companies Act 2013 and its rules/S/s, if applicable. A company cannot sell shares in its core subsidiary that would reduce its stake (alone or in conjunction with other subsidiaries) to less than 50% or cease to exercise control of its subsidiary without making a particular decision at its general meeting. (ii) exercises or controls more than half of the total capital, either alone or jointly with one or more of its subsidiaries. Section 2 [87]” It would be appropriate to identify a “material subsidiary” of the company, which would include, if necessary: – Indian subsidiaries listed on the stock exchange, – the materials of foreign publicly traded subsidiaries, – the materials of unlisted Indian subsidiaries, – the materials of unlisted foreign subsidiaries. In view of Article 49 of the Good Corporate Governance Agreement, it becomes very critical for companies whose shares are listed on the stock exchange to address the issues of their subsidiaries according to legal parameters. These include the identification by holding companies of equipment or non-material listed in India or to foreign subsidiaries and compliance with disclosure requirements or other requirements relating to these subsidiaries. These include regulating the disinvestment of their shares in these subsidiaries by holding companies, as well as the sale/sale/lease of the subsidiaries` assets. Where a publicly traded holding company has a listed subsidiary that is itself a holding company, the above provisions apply to the listed subsidiary to the extent that its subsidiaries are concerned.