XPS Limited, a company of Chennai, have issued non-convertible debentures and got listed their debt securities on BSE. After listing of the above-mentioned debentures, the Managing Director prefers to use the word 'Liste

Section 2(52) of the Companies Act, 2013 stipulates that a listed company means a company which has any of its securities listed on any recognized stock exchange. Provided that such class of companies, which have listed or intend to list such class of securities, as may be prescribed in consultation with the Securities and Exchange Board, shall not be considered as listed companies. For the purposes of the proviso to clause (52) of section 2 of the Companies Act, 2013, the following classes of companies shall not be considered as listed companies, namely: Public companies which have not listed their equity shares on a recognized stock exchange but have listed their— non-convertible debt securities issued on private placement basis in terms of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 [Now the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021]; or non-convertible redeemable preference shares issued on private placement basis in terms of SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 [Now the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021]; or Private companies which have listed their non-convertible debt securities on private placement basis on a recognized stock exchange in terms of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008[Now the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021]; Public companies which have not listed their equity shares on a recognized stock exchange but whose equity shares are listed on a stock exchange in a jurisdiction as specified in Section 23(3) of the Companies Act, 2013. Assumption 1: Issuance of non-convertible debentures on private placement Since XPS Limited, is a public company which has issued non-convertible debentures on private placement basis and got listed its debt securities on BSE, shall not be considered as Listed Company in accordance with the above-mentioned provisions and hence cannot use the word Listed in its name. Assumption 2: Issuance of non-convertible debentures through public issuance Since XPS Limited, is a public company which has issued non-convertible debentures on public issuance basis and got listed its debt securities on BSE, shall be considered as Listed Company in accordance with the above-mentioned provisions and hence can use the word Listed in its name.