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    Issue of Share in Public Company

    Posted By : Sachin / Published on : 28-Mar-2022 09:55 AM / View : 154 / Comment : 1
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    Dear All,

    Is every unlisted public company required to issue securities _only in_ de materialised form at the time of incorporation ?
    Read more on : company public share issue

    • Dear Sir,

      Greetings!!

      This query is in reference to Section 29 read with Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

       as per these provisions

      Every unlisted public company shall –

      • issue the securities only in dematerialized form; and
      • facilitate dematerialization of all its existing securities

      in accordance with provisions of the Depositories Act, 1996 and regulations made thereunder.

       

      therefore it is clear from the language of law that it is mandatory for an unlisted public company to issue securities in Demat form or atleast facilitate dematerialisation of shares ASAP.

      29-03-2022 / 05:56:59 AM
      Reply



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