India:
Listing Of Securities On Foreign Stock Exchanges
20 November 2023
Stratage Law Partners
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The Companies (Amendment) Act, 2020
has been notified, bringing into force the following
provisions:
- Public companies can issue such a class of securities for the
purposes of listing on permitted stock
exchanges in permissible foreign
jurisdictions.
- Central government can exempt certain
classes of public companies, including the above, from provisions
of certain chapters of the Companies Act, 2013, such as the chapter
regarding 'Prospectus and Allotment of Securities', the
chapter regarding 'Private Placement', the chapter
regarding 'Share Capital and Debentures', provisions
regarding beneficial ownershipunder section 89 and
section 90 or punishment to failure to distribute
dividends under section 127 of the
Companies Act, 2013
Ministry of Corporate Affairs has appointed October
30, 2023, as the date on which the abovementioned
provisions would come into force.
The contents of this article do not necessarily reflect the
views/position of Stratage Law Partners but remain solely those of
the author(s). This article is meant for general information and
shall not be deemed to be a legal advice or opinion. This article
is neither intended to be an advertisement or
solicitation.
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