Guidelines for approval under clause (xix) of sub-section (2) of section 80C or under clause (xvi) of sub-section (2) of section 88

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....al to a public company, under clause (xix) of sub-section (2) of section 80C or under clause (xvi) of sub-section (2) of section 88, shall satisfy itself that the application made to it fulfils the following requirements, namely : (1) An application for approval has been made in the Form No. 59 by the public company three months before the [eligible issue of capital]. Explanation. For the pu....

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....ence. (3) Every such public company shall invest its total paid-up capital (hereinafter referred to as such capital) raised through equity issue or debentures in the following manner : (i) twenty-five per cent or more of such capital shall be invested in the infrastructure facility before the end of one year from the date of approval of the Board; (ii) the balance of such capi....