10.1 The Committee is of the view that the fact of delisting of securities of a company should be disclosed by the company in its Directors’ Report, relating to the year in which the delisting has taken place with a statement of reasons and justification for the delisting. This requirement should apply regardless of whether the delisting was voluntary or compulsory.

10.2 Incidentally the Committee also suggests that every listed company should specify in every annual report, the names and addresses the Stock Exchange/s where the securities of the company are listed. The Committee also recommends that every listed company whose securities had been suspended for trading by a Stock Exchange, should disclose that fact together with reasons therefor in the Directors’ Report of the concerned financial year.

The Committee, therefore, recommends that:

1. The Directors’ Report should disclose the fact of delisting, together with a statement of reasons and, in the case of voluntary delisting justification therefor. Likewise, disclosure as to suspension of trading in the securities should be made by the company in its Directors’ Report.
2. Every listed company should in each annual report specify the name and address of each Stock Exchange at which the company’s securities are listed and whether the company has paid the annual listing fees to each such Exchange.