CERTAIN CLASS OF COMPANIES NOT TO BE CONSIDERED AS LISTED COMPANY

The Ministry of Corporate Affairs, vide its notification dated 19th February 2021, has specified the following classes of companies which shall not be considered as listed companies for the purpose of Companies Act, 2013.

(a) The public companies which have not listed their equity shares on a recognized stock exchange but have listed their:

(i) non-convertible debt securities issued on private placement basis in terms of SEBI (issue and listing of debt securities) regulation, 2008; or

(ii) non-convertible redeemable preference shares issued on private placement basis in terms of SEBI (issue and Listing of Non- convertible Redeemable Preference Shares) Regulations, 2013; or

(iii) Both categories of (i) and (ii) above

(b) The private companies which has listed their non-convertible debt securities on private placement basis on recognised stock exchange in terms of SEBI ( Issue and Listing Of Debt Securities) Regulation, 2008;

(c) Public companies which have not listed their equity shares on recognised stock exchange but whose equity shares are listed on a stock exchange in a jurisdiction as specified in sub-section (3) of section 23 of the Act.

Effect of this amendment:

The Companies Act, 2013 make certain provisions specifically applicable to

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