MCA clarification regarding notice u/s 62(2) CA 2013 by listed cos for rights issues up to 31 July 2020
May 12, 2020
Following a one-time relaxation of procedures for Rights issues opening upto 31 July 2020 granted by SEBI, the MCA has clarified that in case of listed companies which have complied with SEBI circular dated 6 May 2020 in this regard [Refer KM update below], the inability to dispatch notice to shareholders through registered post/speed post/courier will not be considered a violation of section 62(2) of the Companies Act, 2013 [pertaining to further issue of capital].
To refer to the MCA circular dated 11 May 2020, click here.
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