Code of Conduct
I, INDU ENGINEERING & TEXTILES LIMITED (the Company), |having our Registered Office at 12/16-A NAWAL GANJ, NUNHAI, AGRA-282006 hereby giving the following declarations and undertaking for non applicability of Corporate Governance, As Company is having equity share capital and net worth of less than Rs 10 crore and Rs 25 crore respectively:
Applicability of Clause 49 of the Listing Agreement (Read with Regulation 27(2) of SEBI listing Regulations 2015 (LODR)
Applicability of Clause 49 shall extend to all listed companies except:
- companies with equity share capital of less than Rs 10 crore,
- companies having net worth not exceeding of Rs 25 crore, and
- Companies listed on SME and SMEITP platforms of the stock exchanges.
However, it has been clarified by SEBI that the exemption is “for the time being”, and in case applicability of Clause 49 is extended to the exempted categories in future, then such companies shall have 6 (six) months to comply with the provisions of Clause 49.