February 22, 2021
Summary of the notification issued by MCA on 19/02/2021
MCA exempts certain class of Companies from the definition of ‘Listed Company’ under the Companies Act, 2013 with effect from 01/04/2021
In a move to further improve the ease of doing business in India by reducing compliance burden, MCA has excluded the following class of companies from the definition of Listed Company under Section 2(52) of the Companies Act, 2013 –
– Public limited companies which have not listed their equity shares on a recognized stock exchange in India but have listed their non-convertible debt securities and/or non-convertible redeemable preference shares issued on private placement basis
– Private limited companies having listed non-convertible debt securities on a private placement basis and
– Public companies who have listed their equity shares in the permitted stock exchanges in permissible foreign jurisdictions but not in the recognized stock exchange in India.
This notification is available on our free to use website www.ca2013.com for your quick reference.