Now issue, allotment, transfer of securities by an unlisted public company must be in dematerialised form

 

Ministry of Corporate Affairs  has released  the Companies (Prospectus and  Allotment of Securities) Third Amendment Rules 2018 on 10th September 2018.

 

Accordingly on or after 2nd October 2018 any issue/allotment/transfer of securities by an unlisted public company must be in dematerialised form. The company shall also facilitate dematerialisation of its existing securities.

Additionally such unlisted public company shall obtain a half yearly share audit report from a practicing company secretary and submit the same with Registrar of Companies of its jurisdiction.