Companies (Specification of definitions Details) Second Amendment Rules, 2021

Last updated: 24 February 2021

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The Companies (Specification of definitions Details) Second Amendment Rules, 2021, came into effect on April 1st, 2021. These rules introduce a new section, 2A, which clarifies which types of companies are not considered 'listed' companies. This includes certain public companies with privately placed non-convertible debt securities or preference shares, private companies with listed non-convertible debt securities, and public companies with equity shares listed on specific foreign stock exchanges.

Called as Companies (Specification of definitions Details) Second Amendment Rules, 2021.
Effective from the 1st of April, 2021.
Insertion after rule 2 which will be called 2A.

Amendment to, following which shall not be listed companies, namely:

Companies Amendment Rules 2021: What You Need to Know

1. Public Company which do not have their equity shares as listed on a recognized stock exchange but they have

Non-convertible debt securities issued on private placement basis in terms of SEBI( Issue and listing of Debt Securities) Regulations, 2008.
Non- convertible redeemable preference shares issued on private placement basis in terms of SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013
Both Categories (i) and (ii) above.

2. Private Companies which have listed their non-convertible debt securities on private placement basis on a recognized Stock Exchange in Terms of SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

3. Public Companies Which have not listed their equity shares on a recognized stock exchange but whose shares are listed in permitted stock exchanges in permissible foreign jurisdictions or such other jurisdictions, as may be prescribed.