Section 22 of SCRA : Section 22: Right Of Appeal Against Refusal By Stock Exchanges To List Securities Of Public Companies
SCRA
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Explanation using Example
Imagine a public company, "XYZ Tech Ltd.," has applied to the National Stock Exchange (NSE) to list its shares so that the public can trade them on the exchange. The NSE, however, decides not to list XYZ Tech Ltd.'s shares, citing non-compliance with certain listing requirements as per its bye-laws.
Under Section 22 of The Securities Contracts (Regulation) Act, 1956, XYZ Tech Ltd. is entitled to receive the specific reasons for the refusal from NSE. If XYZ Tech Ltd. b...
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