Skip to content

CS Executive · Capital Market and Securities Laws · Issue and Listing of Non-Convertible Securities

Kaveri Finance Ltd, a listed debt issuer, is alleged to have breached a provision of the Companies Act, 2013 relating to issue and transfer of securities. Who may file a written complaint enabling the court to take cognizance of that offence, in addition to the usual complainants?

A person authorised by SEBI may file the written complaint. Section 439(2) of the Companies Act, 2013 names the Registrar, a shareholder or member, or a Central Government authorised person, and its proviso adds a SEBI-authorised person for offences relating to issue and transfer of securities.

  1. AAny debenture trustee acting on its own
  2. BA person authorised by the Securities and Exchange Board of IndiaCorrect
  3. CAny stock exchange broker
  4. DOnly the company's statutory auditor

Explanation

Section 439(2) says courts take cognizance on the complaint of the Registrar, a shareholder or member, or a person authorised by the Central Government. The first proviso allows cognizance of offences on issue and transfer of securities on a written complaint by a person authorised by SEBI.

Did you get it right without looking?

One question tells you little. A timed set on Issue and Listing of Non-Convertible Securities shows your real accuracy, how long you take and where you lose marks.

Practise Issue and Listing of Non-Convertible SecuritiesFree diagnostic mock

More Issue and Listing of Non-Convertible Securities questions