Ammendment to section 2(52)

harish biyani (Articled clerk) (48 Points)

23 April 2021  

The below amendment has become applicable from 1 April 2021.

MCA has, vide Companies (Specification of definition details) Second Amendment Rules, 2021 dated 19.02.2021, prescribed the class of companies which shall not be considered as listed company in the context of Companies Act, 2013 (CA, 2013). These are:

(1) Debt (NCD) listed public / private companies;

(2) preference shares (NCRPS) listed public companies; and

(3) public companies listed outside India


My question is if a private company or unlisted public Company wants to issue a debt security which has to be listed, what compliance will be applicable? Want to understand what relaxations will such Company get post this amendment.

ex: Will it get exemption from submitting financials to exchanges. Currently audited financials/limited review needs to be submitted within 45 days from end of quarter. Will the new amendment give relaxation of this requirement?