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Corporate Laws Central Ministry of Corporate Affairs Companies Act, 2013

Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024

24-Jan-2024 | G.S.R. 61(E)

Ministry of Corporate Affairs has issued Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 applicable to Unlisted public companies and Listed public companies. Key highlights- 1. An unlisted public company, which does falls under eligibility and which has no partly paid-up shares, may issue equity shares for the purposes of listing on a stock exchange in a permissible jurisdiction. 2. The unlisted public company shall file the prospectus in e-Form LEAP-1 specified in the second schedule along with the fees within a period of seven days after the same has been finalised and filed in the permitted exchange. 3. Companies not eligible for issuing its equity shares for listing in accordance with these rules are- (a) which has been registered under section 8 or declared as Nidhi under section 406 of the Act; (b) is a company limited by guarantee and also having share capital; (c) has any outstanding deposits accepted from the public as per Chapter V of the Act and rules made thereunder; (d) has a negative net worth. For more details please refer the attachment.

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