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of <h1>MCA Clarifies No Violation u/s 186(7) if Tax-Free Bonds Yield Exceeds Similar Government Securities.</h1> The Ministry of Corporate Affairs clarifies that under sub-section (7) of section 186 of the Companies Act, 2013, there is no violation if the effective yield on tax-free bonds exceeds the yield of government securities with a similar tenor. This clarification aligns with a previous circular under the Companies Act, 1956, regarding tax-free bonds and their yield compared to bank rates. The circular ensures compliance with the law when yields on such bonds are favorable compared to government securities. This clarification is issued with the approval of the competent authority and is directed to relevant corporate stakeholders.
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