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

  • Excise/Custom

SC recommends action against Customs Officer who relied upon AI generated fake case laws

Supreme Court recommends action against Commissioner of Customs who relied upon non-existent AI generated case laws. Supreme Court recommends action…

14 hours ago
  • Income Tax

Non- payment of cost imposed can’t trigger automatic confirmation of an invalid exparte assessment.

ITAT power to pass such orders "as it thinks fit" implies a judicial discretion to be exercised within the parameters…

3 days ago
  • Income Tax

Non-deduction of TDS does not make transaction as unexplained in the hands of deductee – ITAT

Mere non-deduction of TDS by the deductor on a transaction does not change the character of the transaction to make…

5 days ago
  • ICAI

Last date to submit MEF 2026-27 extended to 09.09.2026

ICAI has extended the last date to online submit Multipurpose Empanelment Form (MEF)- 2026-27 from 29th August 2026 to 9th…

5 days ago
  • Income Tax

Validity of demand u/s 156 for default u/s 115-O, if assessment order u/s 143(3) has Nil demand

Can a demand notice be issued u/s 156 for non-payment of Dividend tax u/s 115-O, when as per assessment order…

7 days ago
  • Income Tax

Issue already examined and adjudicated by CIT(Appeals), can’t be reopened on same set of facts

The issue already examined and adjudicated by the quasi-judicial authority, i.e., CIT(Appeals), cannot be reopened on the same set of…

1 week ago