The
Ministry has decided to allow Infrastructure Finance companies and
Infrastructure Debt Fund Non-Banking Financial Companies (ID-NBFCs) to issue
secured debentures for a period up to thirty years. Similarly, Housing Finance
companies have been allowed relaxed terms for maintaining Debenture Redemption
Reserve on lines similar to NBFCs registered with RBIs. Necessary amendments in
Rules have been notified.
It
has also been clarified that an independent Merchant Banker who is registered
with SEBI or an independent Chartered Accountant in practice having a minimum
experience of ten years may be engaged by companies for preparing valuation
reports required before making preferential allotment of shares.
The
relevant notification is available on the Ministry’s website at www.mca.gov.in.
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