In a Press Conference held yesterday, the Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the Central government will allow direct listing of Securities by Indian Public Companies in Permissible Foreign Jurisdictions.
The Finance Minister also said that It will help to Improvement in rankings in ‘starting a business’ and ‘insolvency resolution’ have contributed to the overall improvement in India’s ranking on EoDB.
The Private companies which list NCDs on stock exchanges not to be regarded as listed companies.
The Government will make necessary changes in the Companies Act, 2013 for Including the provisions of Part IXA (Producer Companies) of Companies Act, 1956.
The Government will also introduce necessary changes in statutes for Power to create additional/ specialized benches for NCLAT.
The Finance Minister also proposed to Lower penalties for all defaults for Small Companies, One person Companies, Producer Companies & Start-Ups.
