https://www.taxtmi.com/article/detailed?id=1950 Section 2(45AA) of the Companies Act and Section 2(h) of the SCR Act adopt inclusive definitions of securities that encompass hybrid securities; hybrids combining debt and equity characteristics, such as OFCDs, qualify as securities when they are marketable or transferable. Where an offering cannot be shown to be confined to closely connected persons and exhibits attributes of a marketable instrument, it may be characterised as a public issue and fall within the regulator's jurisdiction to investigate and enforce securities law. en-us Mon, 19 Nov 2012 13:11:31 +0530 Mon, 19 Nov 2012 13:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1950 Section 2(45AA) of the Companies Act and Section 2(h) of the SCR Act adopt inclusive definitions of securities that encompass hybrid securities; hybrids combining debt and equity characteristics, such as OFCDs, qualify as securities when they are marketable or transferable. Where an offering cannot be shown to be confined to closely connected persons and exhibits attributes of a marketable instrument, it may be characterised as a public issue and fall within the regulator's jurisdiction to investigate and enforce securities law. Articles Corporate Laws / IBC / SEBI Mon, 19 Nov 2012 13:11:31 +0530 https://www.taxtmi.com/article/detailed?id=1950