Mukesh Ambani becomes the first tycoon to comply with new BSE listing norms

Reliance Industries signed the revised listing agreement with the market bellwether Bombay Stock Exchange.

RIL became the first corporate to do so with the BSE under the newly introduced Listing Regulation notified by SEBI.

The listing agreement, earlier, was a bilateral agreement between the BSE and the company and market regulatory SEBI didn't have regulations on this. Following this, agreement of every company with the stock exchange could be at variance and lacking the full force of SEBI's rigour.

Now, SEBI has mandated all existing listed entities to execute a fresh and simplified Listing Agreement with the stock exchange where they are listed.

Last month in September, SEBI came out with such regulations and a six-month deadline for all companies in which it prescribed the listing agreement.

The new Listing Regulations will be effective from December 1, 2015.

BSE said it expected all listed companies to sign the new agreement within the time frame given by SEBI.

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