Bonus issue of non-convertible redeemable securities to non-residents allowed after approved scheme, subject to conditions. Where an NCLT- or Competent Authority-approved scheme of arrangement exists, an Indian company may distribute by way of bonus out of general reserves non-convertible redeemable preference shares or non-convertible redeemable debentures to shareholders resident outside India, provided (a) the original non-resident investment complied with the Regulations and relevant Schedule, (b) the issuance complies with the Companies Act, 2013 and the approved scheme's terms, and (c) the company is not engaged in a sector prohibiting foreign investment.