MCA specifies class of companies not to be considered as listed companies

MCA has amended the  Companies (Specification of definitions details) Rules, 2014 in terms of listed companies. The brief summary of the amendment is detailed below:

1 Rule date 19.02.2021
2 Subject (Specification of definitions details) second amendment rules, 2021
3 Effective date  01.04.2021
4 Applicability As per rules attached
5  Brief description MCA has amended the definition of the listed companies by inserting rule “2A. Companies not to be considered as listed companies –

(a)  Public companies which have not listed their equity shares on a recognised stock exchange but have listed their-

(i)           Non – convertible debt securities issued on private placement basis in terms of SEBI Regulations 2008.

(ii)          Non- convertible redeemable preference shares issued on private placement basis in terms of SEBI Regulations 2013.

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

(b)  Private companies which have listed their non-convertible debt securities on private placement basis on a recognised stock exchange in terms of SEBI Regulations 2008.

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

Please also find attached notification herewith for your ready reference.