Companies (Acceptance of Deposits) Amendment Rules, 2016

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....publication in the Official Gazette. 2. In the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter referred to as the principal rules), in rule 2, in sub-rule (1), in clause (c),- (i) in sub-clause (ix), for the words "five years" the words "ten years" shall be substituted; (ii) after sub-clause (ix), the following slab-clause shaII be inserted, namely,- "(ixa) any amount raised by issue of non-convertible debenture not constituting a charge on the assets of the company and listed on a recognised stock exchange as per applicable regulations made by Securities and Exchange Board of India."; (iii) for sub-clause (xi), the following sub-clause shall be substituted, namely:- "(xi) any non-....

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....egulations framed  by the Securities and Exchange Board of India; (xvii) an amount of twenty five lakh rupees or more received by a start-up company, by way of a convertible note (convertible into equity shares or repayable within a period not exceeding five years from the date of issue) in a single tranche, from a person. Explanation.- For the purposes of this sub-clause,- 1. "start-up  company"   means  a  private  company  incorporated  under  the Companies Act, 2013 or Companies Act, 1956 and recognised as such in accordance with notification number   G.S.R. 180(E) dated 17^th, February, 2016 issued by the Department of Industrial Policy and Promotion, Ministry o....

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.... credit rating referred to in clause (a) shall not be below the minimum investment grade rating or other specified credit rating for fixed deposits, from any one of the approved credit rating agencies as specified for Non-Banking Financial Companies in the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, issued by the Reserve Bank of India, as amended from time to time." 4. in rule 4 of the principal rules, for sub-rule (2), the following sub-rule shall be substituted, namely:- "(2)  Every eligible company intending; to invite deposits shall issue a circular in the form of an advertisement in form DPT-1 for the purpose in English language in an English newspaper having country w....