All Stocks, debentures etc, to be in DMAT form only - Suggestions invited
THE Ministry of Corporate Affairs (MCA) is proposing to issue the Companies (Dematerialization of Certificates) Rules, 2011 with effect from 1 st October 2011 stipulating that:
All public Companies and their subsidiaries which have raised money by issue of shares, debentures, by accepting public deposits, stock, bond or any other financial instruments from public, other than from directors of the company, shall issue and keep such share certificates, debenture certificates and certificates issued for receipt of deposits, stock, bond or any other financial instruments in dematerialized form only, in the manner prescribed in the Depositories Act, 1996 and regulation made there under.
The Ministry has invited comments / recommendations to the Ministry latest by 30th June, 2011 by e-mail to monika.gupta@mca.gov.in