The Ministry of Corporate Affairs on February 19, 2021, has announced the notification on Companies Specification of definitions details Second Amendment Rules, 2021 to further revise the Companies (Specification of definitions details) Rules, 2014. In this article, we will discuss the Companies Specification and Definitions details.
Companies Specification and Definitions details
The Ministry of Corporate Affairs (MCA) has vided its notification dated February 1, 2021, has announced the notification on Companies (Specification of definitions details) Second Amendment Rules, 2021 to further amend the Companies Rules, 2014.
In exercise of the powers deliberated by the provision to clause (52) with sub-sections (1) and (2) of section 469 of the Companies Act, 2013, the Central Government thus declares the subsequent rules further to amend the Companies Rules, 2014.
New Amendments Rules, 2021
The new Amendments Rules, 2021 specifies below:
Rule 2A, which illuminates the companies not considered as listed companies, has been inserted For the proviso to clause (52) of section 2 of the Act, the following categories of companies shall not be deemed as listed companies, namely:
- Public companies which have not registered their equity shares on a distinguished stock exchange but have listed their:
- Non-convertible debt securities assigned on a private placement basis in terms of SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
- Non-convertible redeemable preference shares assigned on a private placement basis in terms of SEBI Regulations, 2013.
Further Notification by MCA
MCA further notifies Private companies which have registered their non-convertible debt securities on a private placement basis on a known stock exchange in terms of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and Public companies which have not registered their equity shares on a recognized stock exchange but whose equity shares are registered on a stock exchange in a jurisdiction as particularised in sub-section (3) of the company act. Read Official Notification.
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