Securities And Exchange Board Of India - Subsection
Section 45(1) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(1)The listed entity shall be allowed to change its name subject to compliance with the following conditions:(a)a time period of at least one year has elapsed from the last name change;(b)at least fifty percent. of the total revenue in the preceding one year period has been accounted for by the new activity suggested by the new name;or(c)the amount invested in the new activity/project is atleast fifty percent. of the assets of the listed entity:Provided that if any listed entity has changed its activities which are not reflected in its name, it shall change its name in line with its activities within a period of six months from the change of activities in compliance of provisions as applicable to change of name prescribed under Companies Act, 2013.Explanation. - For the purpose of this regulation, -(i)'assets' of the listed entity means the sum of fixed assets, advances, works in Progress / Inventories, investments, trade receivables, cash & cash equivalents;(ii)`advances' shall include only those amounts extended to contractors and suppliers towards execution of project, specific to new activity as reflected in the new name.
