inability to dispatch the relevant notice to shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Act for rights issues opening upto 31st December, 2020.
F. No. 2/4/2020-CL-V
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R. P. Road, New Delhi
Dated: 3rd August , 2020
To
All Regional Directors,
All Registrar of Companies, All Stakeholders.
Sir/Madam,
Reference is drawn to this Ministry’s General Circular Number 21/2020 dated 11th May, 2020 regarding clarification on dispatch of notice under section 62(2) of Companies Act, 2013 by listed companies for rights issue opening upto 31st July, 2020..
Representations have been received for extending the validity of such clarification. The Circular (Number SEBI/HO/CFD/DIL1/CIR/P/2020/ 136) issued by SEBI on 24th July, 2020 has also been considered. In view of this, it has been decided that clarification given under para 2 of General Circular 21/2020 dated 11th May, 2020, would continue to be applicable for rights issues, in case of listed companies, opening upto 31st December, 2020.
Accordingly, in case of listed companies, which comply with relevant circulars issued by SEBI, inability to dispatch the relevant notice to shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Act for rights issues opening upto 31st December, 2020. Other requirement provided in the said General Circular remain unchanged.
2. This issues with the approval of the competent authority.
Yours faithfully,
(K. M. S. Narayanan)
Assistant Director (Policy)
CIT Revision notice u/s 263 quashed as the Assessing Officer rightly taken DVO value of property sold as actual sale…
Extension of timeline for implementation of mandatory "Ship To GSTIN" and Voluntary Closure of E-Way Bill functionalities GSTN Advisory dated…
No protective addition required in the hand of a third party when additions have been confirmed in the hands of…
Limitation for filing application u/s 34 of Arbitration Act commence from date on which application u/s 33 is disposed of…
Case remanded as no finding was given whether cash payments disallowed u/s 40A(3) were covered by Rule 6DD under Income…
In case of investment in share capital, the source of investment may remain outside the control of the investee company.…