The Ministry of Corporate Affairs vide its notification dated 5th August 2021 has published the Companies (Specification of definitions details) Third Amendment Rules, 2021 and Companies (Registration of Foreign Companies) Amendment Rules, 2021 in which the term electronic mode has been explained.
The term electronic mode has been defined under rule 2(1)(h) of Companies (Specification of definitions details) Rules, 2014 and under rule 2(1)(c) of Companies (Registration of Foreign Companies) Rules, 2014, however, the explanation for the above term has been inserted through this amended as follows:
The electronic-based offering of securities, subscription thereof or listing of securities in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005) shall not be construed as ‘electronic mode’ for the purpose of clause (42) of section 2 of the Act.”
Click here to read the Companies (Specification of definitions details) Third Amendment Rules, 2021.
Click here to read the Companies (Registration of Foreign Companies) Amendment Rules, 2021
