Producer Companies get 5-year transition to comply with securities allotment rules.

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Full Text of the Document

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....This notification amends the Companies (Prospectus and Allotment of Securities) Rules, 2014, by inserting a proviso in sub-rule (2) of rule 9B. The proviso states that a producer company covered under this sub-rule shall, within five years of the closure of such financial year, comply with the provision of this sub-rule. The amendment aims to provide a transitional period of five years for producer companies to comply with the requirements under sub-rule (2) of rule 9B.....