Listed company definition narrowed: privately placed non-convertible securities and certain foreign-only equity listings excluded. The amendment inserts rule 2A excluding specified classes from being treated as listed companies, effective April 1, 2021: (a) public companies without equity listings domestically but with privately placed listed non-convertible debt securities and/or non-convertible redeemable preference shares under SEBI regulations; (b) private companies listing non-convertible debt securities on a recognized exchange via private placement under SEBI regulations; and (c) public companies whose equity is listed only on a foreign exchange specified under the Act.
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Provisions expressly mentioned in the judgment/order text.
Listed company definition narrowed: privately placed non-convertible securities and certain foreign-only equity listings excluded.
The amendment inserts rule 2A excluding specified classes from being treated as listed companies, effective April 1, 2021: (a) public companies without equity listings domestically but with privately placed listed non-convertible debt securities and/or non-convertible redeemable preference shares under SEBI regulations; (b) private companies listing non-convertible debt securities on a recognized exchange via private placement under SEBI regulations; and (c) public companies whose equity is listed only on a foreign exchange specified under the Act.
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