sec 40

Sripriya Parthasarathy (24 Points)

08 February 2018  
u/s 40 it is given that EVER
Y company offering it's securities to the public SHALL list those securities in one or more recognised stock exchanges failing which it shall suffer penalty.
So doesn't this provision eliminate the concept of unlisted securities.
But still we find unlisted securities being offered and traded so is that against law??