can anyone explain me what is Listed public company?
like for eg.149(4) of companies act,2013 states that Every "listed public company" shall have 1/3 of total director as independent director
what I understood is that every listed company is public company. then what is this listed public company?
can there be listed private company too..?
Listed co is basically the co whose name mentioned in National stock exchange/ Bombay stock exchange. And generally listed for trading by public. Here public investment is exist that's why it's called public co. Sebi is controlled all the regulatory matter. And yes every listed co have to rotate directors as per sec152(6).
the term listed public company is used in this section only to imply it's applicability to listed company, which means any other public company which is not listed on a stock exchange need not follow this provision. here we have to distinguish between only listed and unlisted public companies. private companies cannot be listed.
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Pvt companies can list there debentures... so 149(4) clearly used listed PUBLIC companies.... If it uses listed companies.. then Pvt companies which has listed there debentures also will fall
CAclubindia
