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.
Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh - ITAT…
Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be…
When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation…
ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of…
Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of…
Corporate guarantees executed by the corporate debtor constitute “financial debt” under IBC and banks to be recognized as financial creditors…