Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016

Central Government has amended the Companies (Share Capital and Debentures) Rules, 2014 to carry out the necessary changes in regard to Issuance of bonds to overseas investors by Indian Companies via Notification dated 12th August, 2016. In the rule 18 of Companies (Share Capital and Debentures) Rules, 2014 sub-rule 11 has been added stating:

“(11) Nothing contained in this rule shall apply to rupee denominated bonds issued exclusively to overseas investors in terms of A.P. (DIR Series) Circular No. 17 dated September 29, 2015 of the Reserve Bank of India.”

MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, 12th August, 2016
G.S.R. 791(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely:—
1.           (1) These rules may be called the Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016.
(2) They shall come into force on the date of their publication in the Official Gazette.

2.      In the Companies (Share Capital and Debentures) Rules, 2014, in rule 18, after Sub-rule (10), the following sub-rule shall be inserted, namely:-
“(11) Nothing contained in this rule shall apply to rupee denominated bonds issued exclusively to overseas investors in terms of A.P. (DIR Series) Circular No. 17 dated September 29, 2015 of the Reserve Bank of India.”
[F. No. 01/04/2013-CL-V- Part-II]
AMARDEEP SINGH BHATIA, Jt. Secy.



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