Companies LawLegal Updates

Companies (Prospectus and Allotment of Securities) Rules will not be applicable to the following unlisted public companies

MCA Updates

MCA issues Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019 (‘Amended Rules’) wherein Sub- rule (11) has been inserted under Rule 9A (Issue of securities in dematerialised form by unlisted public companies). As per Amended Rule the Companies (Prospectus and Allotment of Securities) Rules will not be applicable to the following unlisted public company :-
a) a Nidhi;
(b) a Government company or
(c) a wholly owned subsidiary
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