Section 110 in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
110. Obligation of stock exchange(s). - The stock exchange(s) shall grant in-principle approval/list the securities or reject the application for in principle approval /listing by the issuer or issuing company, as the case maybe, within thirty days from the later of the following dates:
(a)the date of receipt of application for in-principle approval/listing from issuer or the issuing company, as the case may be,;(b)the date of receipt of satisfactory reply from the issuer or the issuing company, as the case may be, in cases where the stock exchange(s) has sought any clarification from them."(xi)In Schedule VIII, in part E in clause 5, in item XVI, after sub-item B and before sub-item C, the following sub-item shall be inserted, namely:-"(BA) Dealing with Fractional Entitlement:Manner of dealing with fractional entitlement viz. payment of the equivalent of the value, if any, of the fractional rights in cash etc."(xii)In Schedule XIX, in part A, in item 13, after sub-item(e), the following sub-item shall be inserted, namely:-"(f) Different classes of shares based on different criteria, if any."(xiii)In Schedule XIX, in part A, in item 14, before sub-item (a), the following general instructions shall be inserted, namely:-General Instructions:(1)The format of disclosure of financial results may be as per the disclosure requirements of the issuing company in the home country where the Issuing Company is listed.(2)The issuing company shall intimate to the investors in the offer document the type of disclosures that it will follow i.e. whether as per Indian GAAP, IFRS or US GAAP and any change in such format shall be informed to the IDR Holders by way of notices to the stock exchange.(xiv)In Schedule XIX, in Part B, in item 2, after sub-item (d), the following sub-item shall be inserted, namely:-"(e) Different classes of shares based on different criteria, if any."(xv)In Schedule XX in the reference title the number "110" shall be substituted, with the number "114".
