equity shares held by LOAs to optionally convertible
debentures (in short 'OCDs'), with the approval from the Jurisdictional
High Court. Scheme of reorganization ... equity shares held by four LOAs were converted into
1750 OCDs each. Aggregate value of 7000 OCDs in the books of the
assessee was shown
reply explained as
under:-
"1. The investment in Optional Convertible Debentures (OCD's) of
referred six companies is very old and they have ... public for subscription. In view of the fact that all the
OCDs were issued by private limited companies there would be no
requirement
nature of Optionally Convertible
Debentures (hereinafter referred to as 'OCDs'), the present appears
are preferred.
2. Appellant Neesa in the years ... issued
OCDs to total 156 entities. Those were issued to 85 investors in the
year 2012-13 and 71 investors during the financial year
directing the appellant to refund the amount collected
through Optionally Convertible Debentures (OCD) jointly and
severally along with other Directors together with interest ... investors, issuance of NCDs and issuance of OCDs.
The appellant filed Criminal Writ Petition No. 1117 of 2017
which was allowed by judgment
company) by the Appellants. On 31.5.2000 The company issued Optionally Convertible Debentures (OCDs) on preferential allotment basis to the promoters. The terms of issue ... OCDs provided that 50% of the OCDs were compulsorily convertible into equity shares at the end of 18 months and the balance
urged that the allegations into the investment of
Rs. 315 crores through OCD are sub judice before the NCLT/NCLAT
and no parallel proceedings ... upper ceiling of leverage ratio and it is
denied that conversion of OCD to CCPS is any where contrary to the
guidelines
KUMAR BABBAR
Signing Date:12.02.2025
17:40:12
(hereinafter as the "OCD") and the said investment was done between
October, 2021 and March ... written opinion was obtained wherein it was observed
that the infusion of OCDs were likely to disturb the leverage ratio of the
ECL and hence
against the issuance of Optionally Convertible Debentures
(hereinafter as the "OCD") and the said investment was done between
October, 2021 and March ... written opinion was obtained wherein it was observed
that the infusion of OCDs were likely to disturb the leverage ratio of the
ECL and hence
KUMAR BABBAR
Signing Date:12.02.2025
17:46:31
(hereinafter as the "OCD") and the said investment was done between
October, 2021 and March ... written opinion was obtained wherein it was observed
that the infusion of OCDs were likely to disturb the leverage ratio of the
ECL and hence
CORSO DTTALIA, 38, 00198, ROMA, REPRESENTED BY
SUPERIOR GENERAL FR. SAVERIO CANNISTRA, OCD,
ROMA.
2 FR. SAVERIO CANNISTRA, OCD,
SUPERIOR GENERAL OF CASA GENERALIZIA CARNELITANI ... REPRESENTED BY ITS
PROVINCIAL FR. SEBASTIAN KOODAPPATTU.
4 FR. KOODAPPATTU,
OCD RESIDING AT MOUNT CARMEL PROVINCIAL HOUSE,
COTTON HILL, THIRUVANANTHAPURAM-695 014,
PROVINCIAL OF MALABAR
