New Definition of “listed company”
- The private or public company which do not have equity shares listed on recognized stock exchange but have other securities listed by way of private placements are kept out of preview of listed company status
- The public company has equity listed in Foreign jurisdiction but do not have equity shares listed on recognized stock exchange are also kept out of preview of listed company status
- Section 2(52)(2A) inserted
- Public Companies which have listed there Non convertible debt securities , and / or Non convertible redeemable preference shares on recognized stock exchanges on Private placement basis but the same public companies have not listed there equity shares on a recognized stock exchange , such companies shall not be considered as listed company
- Public Companies which have issued Equity shares on permitted stock exchanges in permissible foreign jurisdictions or such other jurisdictions under Section 23(3) of the Act but the same Public Companies have not issued Equity shares on recognised Stock Exchange, such companies shall not be considered as listed company
- Private Companies which have listed there Non convertible debt securities , on recognized stock exchanges on Private placement basis but the same private companies have not listed there equity shares on a recognized stock exchange , such companies shall not be considered as listed company
MCA notification