Jan 23, 2024

Listing of Securities by Indian Public Companies on Foreign Exchanges

The MCA by way of a Notification dated October 30, 2023, has made effective the amendments to Section 23 of the Act providing public companies with the flexibility to list their securities on permitted foreign stock exchanges. Further, the Central Government has been empowered to exempt any class or classes of public companies to this effect from any of the provisions of Chapter III (Prospectus and Allotment of Securities); Chapter IV (Share Capital and Debentures), Section 89 (declaration of beneficial interest in shares), Section 90 (register of SBOs) and Section 127 (punishment for failure to distribute dividends) of the Act. Notifications in this regard from the Central Government are awaited.




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