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ARTICLE · 19 JANUARY 2024

Dematerialization Mandate - A WOS Perspective

Singhania & Partners LLP
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In the dynamic realm of corporate governance, the dematerialization of securities has emerged as a transformative force, particularly impacting wholly owned subsidiaries ...

IndiaCorporate/Commercial Law
Gunjan Gupta
Gunjan Gupta
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Introduction:

In the dynamic realm of corporate governance, the dematerialization of securities has emerged as a transformative force, particularly impacting wholly owned subsidiaries (WOS) established as private companies under the provisions of the Companies Act, 2013 (CA 2013). This article delves into the intricacies of the dematerialization mandate issued by the Ministry of Corporate Affairs (MCA) through the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 (Amended PAS Rules), outlined in a Notification dated October 27, 2023 (Notification). It examines the implications, challenges, and benefits specific to WOS operating under the new regulatory framework.

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