Corporate Governance – Clause 49 of the Listing Agreement - SEBI - SEBI/CFD/DIL/CG/1/2005/29/3

Amarjeet Singh General Manager Division of Issues Listing Corporation Finance Department Phone: +91 22 2285 0451-56, (Extn: 226) Fax: +91 22 2204 5633. Email: [email protected] SEBI/CFD/DIL/CG/1/2005/29/3 March 29, 2005 The Managing Director/Executive Director/Administrator Of all the Stock Exchanges Dear Sir/Madam, Sub: Corporate Governance Clause 49 of the Listing Agreement Please refer to SEBI circular no. SEBI/CFD/DIL/CG/1/2004/12/10 October 29, 2004 containing the revised provisions of Clause 49 of the listing agreement. It has been brought to our notice that a large number of companies are still not in a state of preparedness to be fully compliant with the requirements as contained in the aforesaid circular. As it is our wont that all listed companies and companies desirous of getting listed should achieve best corporate governance status, it was felt that more time should be allowed to them to conform to Clause 49 of the listing agreement as revised in terms of the aforesaid circular. Accordingly, the date for ensuring compliance with the revised Clause 49 of the listing agreement has been now extended upto December 31, 2005. Yours faithfully, Amarjeet Singh