Dematerialisation requirement: unlisted companies must issue and maintain securities in dematerialised form and obtain ISINs before offers. Unlisted public companies must issue securities only in dematerialised form and facilitate dematerialisation of existing securities; before offers, buybacks, bonus or rights issues promoters', directors' and key managerial personnel holdings must be dematerialised. Companies must apply to a depository, obtain ISINs, inform security holders, pay admission and annual fees, maintain a minimum security deposit with the depository and registrar-to-an-issue and share transfer agent, and comply with depository and related regulations. Defaults bar further offers until cured. Companies must file prescribed half-yearly certification (Form PAS-6) and notify depositories of capital discrepancies; grievances lie with the Investor Education and Protection Fund Authority. Exemptions apply for Nidhi, Government companies and wholly owned subsidiaries.
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Provisions expressly mentioned in the judgment/order text.
Dematerialisation requirement: unlisted companies must issue and maintain securities in dematerialised form and obtain ISINs before offers.
Unlisted public companies must issue securities only in dematerialised form and facilitate dematerialisation of existing securities; before offers, buybacks, bonus or rights issues promoters', directors' and key managerial personnel holdings must be dematerialised. Companies must apply to a depository, obtain ISINs, inform security holders, pay admission and annual fees, maintain a minimum security deposit with the depository and registrar-to-an-issue and share transfer agent, and comply with depository and related regulations. Defaults bar further offers until cured. Companies must file prescribed half-yearly certification (Form PAS-6) and notify depositories of capital discrepancies; grievances lie with the Investor Education and Protection Fund Authority. Exemptions apply for Nidhi, Government companies and wholly owned subsidiaries.
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