TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Amendment Exempts Unlisted Firms from Listing Requirements if 'Effective Steps' Taken Before August 31, 2005</h1> The Central Government has amended the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, effective from the notification date. The amendment introduces paragraph 3(1)(Ba), exempting unlisted companies that took 'effective steps' before August 31, 2005, from prior or simultaneous listing requirements if they complete their issues by December 31, 2005. 'Effective steps' include due diligence, filing offering circulars, obtaining overseas exchange approval, paying listing fees, or securing Reserve Bank of India approval for issue-related expenses. Similar exemptions apply to listed companies regarding pricing guidelines under paragraphs 5(4)(ca) and 5(4)(e)(i). Private placements without offering circulars do not qualify.
TaxTMI 
TaxTMI 
