Write short notes on the followings: Book Closure and Record Date

Book Closure and Record Date Book closure is the periodic closure of the Register of Members and Transfer Books of the company, to take a record of the shareholders to determine their entitlement to dividends or to bonus or right shares or any other rights pertaining to shares. Record date is the date on which the records of a company are closed for the purpose of determining the stock holders to whom dividends, proxies rights etc. are to be sent. In accordance with Section 91 of the Companies Act, 2013, a company may close the register of members for a maximum of 45 days in a year and for not more than 30 days at any one time, subject to giving at least seven days previous notice. If such company is a listed company, at least seven days previous notice is required to be given by advertisement at least once in a vernacular newspaper in the principal vernacular language of the district and having a wide circulation in the place where the registered office of the company is situated, and at least once in English language in an English newspaper circulating in that district and having wide circulation in the place where the registered office of the company is situated. Book closure/record date is necessary for the purpose of paying dividend, rights issue, bonus issue, etc. For the companies whose securities are listed on the Exchange are required to comply with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the companies are required to give at least seven working days (excluding the date of intimation and the record date) advance notice of book closure or record date to stock exchange where the securities of the companies are listed. In the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).