Bill for direct overseas listing of companies tabled in Lok Sabha

To bring greater accountability and transparency, specific classes of unlisted companies have been proposed to prepare and file their periodical financial results

The Centre on Tuesday introduced the Companies Amendment Bill 2020 in the Lok Sabha to decriminalise procedural and technical lapses and allow direct listing of securities by Indian companies in permissible foreign jurisdictions. 

The Bill has also laid down rules for incorporation, registration, amalgamation, and functioning of producer companies, apart from paving the way for the conversion of inter-state cooperatives into producer companies.

The proposed amendment is in line with the government’s aim to streamline the functioning of farmer-producer organisations in order to achieve the goal of promoting 10,000 new FPO in the next five years. A host of activities have been