TMI BlogCompanies (Share Capital and Debentures) Amendment Rules, 2019.X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Share Capital and Debentures) Rules, 2014 , in rule 4 (hereinafter referred to as the principal rules), in sub-rule (1), - i) for clause (c), the following clause shall be substituted, namely:- (c) the voting power in respect of shares with differential rights of the company shall not exceed seventy four per cent. of total voting power including voting power in respect of equity shares with differential rights issued at any point of time; ; ii) clause (d) shall be omitted. 3. In the principal rules , in rule 5, in sub-rule (3), in the Explanation, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated by Reserve Bank of India and Banking Companies for both public as well as privately placed debentures; (ii) For other Financial Institutions within the meaning of clause (72) of section 2 of the Companies Act, 2013, Debenture Redemption Reserve shall be as applicable to Non -Banking Finance Companies registered with Reserve Bank of India. (iii) For listed companies (other than All India Financial Institutions and Banking Companies as specified in sub-clause (i)), Debenture Redemption Reserve is not required in the following cases - (A) in case of public issue of debentures A. for NBFCs registered with Reserve Bank of India under section 45-IA of the RBI Act, 1934 and for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or deposited, as the case may be, shall not at any time fall below fifteen percent. of the amount of the debentures maturing during the year ending on 31 st day of March of that year. (vi) for the purpose of sub-clause (v), the methods of deposits or investments, as the case may be, are as follows:- (A) in deposits with any scheduled bank, free from any charge or lien; (B) in unencumbered securities of the Central Government or any State Government; (C) in unencumbered securities mentioned in sub-clause (a) to (d) and (ee) of section 20 of the Indian Trusts Act, 1882; (D) in unencumbered bonds issued by any other company which is notified under sub-clause (f) of section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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