Companies Act

Issue of securities in demat form not apply to Nidhi, Govt Co. or wholly owned subsidiary 

Issue of securities in dematerialised form not to apply to Nidhi Government company or wholly owned subsidiary. 

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 22nd January, 2019

G.S.R. 43(E).—In exercise of the powers conferred by section 26, sub-section (1) of section 27, section 28, section 29, sub-section (2) of section 31, sub-sections (3) and (4) of section 39, sub-section (6) of section 40 and section 42 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, namely:—

1. Short title and commencement.—(1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019.

(2) They shall come into force on the date of their notification in the Official Gazette.

2. In the Companies (Prospectus and Allotment of Securities) Rules, 2014, in rule 9A, after sub-rule (10), the following shall be inserted, namely:—

“(11) This rule shall not apply to an unlisted public company which is:—

(a) a Nidhi;

(b) a Government company or

(c) a wholly owned subsidiary.”.

[F. No. 1/21/2013-CL-V-part]

K. V. R. MURTY, Jt. Secy.

Note : The Principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification number G.S.R. 251(E), dated the 31st March, 2014 and were subsequently amended:—
(1) Vide notification number G.S.R. 424(E), dated the 30th June, 2014;
(2) Vide notification number G.S.R. 430 (E) dated the 7th May, 2018;
(3) Vide notification number G.S.R. 752 (E) dated the 7th August, 2018; and
(4) Vide notification number G.S.R. 853 (E) dated 10th September, 2018.

Share

Recent Posts

  • ICSI

Empanelment of General Observers for ICSI Examinations December 2026. Last date 16.11.2026

Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…

13 hours ago
  • Income Tax

ITAT address some important issues relating to deduction u/s 80IA

ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…

16 hours ago
  • Income Tax

Mere carry forward of loss can not be denied for belated return – ITAT

Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…

1 week ago
  • Income Tax

Sales duly recorded in books & VAT returns, can’t be held bogus without cogent adverse material

Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…

2 weeks ago
  • Income Tax

ITAT allows Diwali expenses incurred by assessee as business expenses

Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…

2 weeks ago
  • Income Tax

Section 292BB does not bar assessee to raise objection for non issuance of notice u/s 143(2) – SC

Section 292BB of the Income Tax Act, 1961 does not preclude Assessee raising objection for non issuance of notice u/s…

2 weeks ago