The Ministry of Corporate Affairs have brought in changes to the Companies (Specification of Definitions Details) Rules, 2014.
Under the Companies (Specification of definitions details) Second Amendment Rules, 2021, a rule has been added for the Companies not to be considered as Listed companies. Those public companies shall not be categorized as Listed companies under the Companies Act, 2013, which have listed their non-convertible debt securities or/and non-convertible redeemable preference shares, but have not listed their equity shares on a recognized stock exchange.
Moreover, those private companies shall not be considered as listed companies that have listed their non-convertible debt instruments on a recognized stock exchange as per SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
Those public companies shall not be considered as listed companies which have listed their equity shares in “permissible foreign jurisdictions or such other jurisdictions” (Section 23(3) of the Act) and have not listed their equity shares on the recognized stock exchange.
Find the copy of the Amendment here http://www.kpalegal.com/companies-acts/
