MCA Amends Prospectus and Allotment Rules | Extends Dematerialisation Compliance Period for Producer Cos. to 5 Years
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- By Chetan Kulasri
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- Last Updated on 23 September, 2024
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Notification No. G.S.R 583(E); Dated: 20.09.2024
MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024. An amendment has been made to Rule 9B(2), which states that a private company, which is not a small company as of the FY ending on or after March 31, 2023, must dematerialise its securities within 18 months of the closure of FY. A new proviso has been inserted to Rule 9B(2), stating that a producer company must comply with dematerialisation provisions within a period of 5 years from the closure of such FY.
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