MCA vide Notification No. G.S.R.642 dated 16/10/2020 has issued Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020 thereby further amending Companies (Prospectus and Allotment of Securities) Rules, 2014 wherein, in rule 14(1) a new provision is inserted which provides that in case of offer or invitation of any securities to qualified institutional buyers, it will be considered sufficient if the company passes a previous special resolution only once in a year for all the allotments to such buyers during the year.

The said Notification can be accessed through the following link: MCA_Notif_GSR.642(E)_16.10.2020_Co.(Prospectus and Allotment of Securities) Amendment Rules, 2020