Photo of Hiresh Dhakan

Corporate Secretarial Services at the Mumbai office of Cyril Amarchand Mangaldas. Hiresh is a qualified company secretary with over 15 years of experiences. He is the Head - Corporate Secretarial Services at the Firm and advises many clients on their company secretarial matters, including incorporations, director appointments, holding board and shareholder meetings, routine compliances matter, etc. He can be reached at hiresh.dhakan@cyrilshroff.com

Enforcing progressive compliance: Push for digitalisation by dematerialising shares of all companies

Pursuant to the issuance of the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023, with effect from September 30, 2024, both public and private limited companies are required to convert the existing shares and issue new shares exclusively in dematerialised form, bringing an end to physical share certificates. While this seems like a small change, this post seeks to trace the transformation of ‘dematerialisation’ from a progressive and secure option for security holders to a compliance requirement, signifying an increased and progressive threshold of regulation. The post also highlights the key challenges that companies and investors may face with this change.Continue Reading Enforcing progressive compliance: Push for digitalisation by dematerialising shares of all Companies