Legal Question in Securities Law in India
SEBI disclosure norms for a listed company on stock exchanges.
Need to know, there are winding up petitions and monetary suits filed by various petitioners against a listed company. But the same have not been admitted as yet and are in the process of coming up for hearing/ admittance. Is the listed company under obligation to report to the stock exchanges about the filing of suits and petitions or they have to inform once it is admitted. Please note the petitions have been filed almost a year ago but the same have not been come up for hearing.
1 Answer from Attorneys
To the best of my knowledge, it is not mandatory to report each and every suit filed against the company. But it is better to be transparent and inform every crucial thing affecting the company to the shareholders.
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