Public offer of securities should be in dematerialized form. Section 29 of Indian Companies Act 2013

Section 29 Public offer of securities in dematerialized form - Indian Companies Act 2013

 

As per Section 29 of Indian Companies Act 2013 every public offer of securities should be in dematerialized form. Provision in the Indian Companies Act 2013 regarding Public offer and dematerialization is as under.


 

(1) Notwithstanding anything contained in any other provisions of this Act,


(a) every company making public offer; and


(b) such other class or classes of public companies as may be prescribed, shall issue the securities only in dematerialised form by complying with the provisions of the Depositories Act, 1996 and the regulations made thereunder.


(2) Any company, other than a company mentioned in sub-section (1), may convert its securities into dematerialised form or issue its securities in physical form in accordance with the provisions of this Act or in dematerialised form in accordance with the provisions of the Depositories Act, 1996 and the regulations made thereunder.

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