Capital and Debentures) Rules, 2014 (hereinafter
referred to as 'Debenture Rules') proposing to issue 1,92,900
Unsecured Fully Convertible Debentures (FCDs ... Provided further that in case of offer or invitation
for non-convertible debentures, it shall be
sufficient if the company passes a previous special
resolution
referred to as 'Neesa') in the nature of Optionally Convertible
Debentures (hereinafter referred to as 'OCDs'), the present appears
are preferred ... show cause notice showed that the
certificate was optionally convertible debentures certificate. It was
7
contained in the statement of the certificate that
cent of each class or kind of
equity shares or debentures convertible into equity
9
shares issued by the company was offered and allotted ... cent of each class or kind of equity
shares or debentures convertible into equity shares
issued by the company was offered and allotted to public
cent of each class or kind of
equity shares or debentures convertible into equity shares
issued by the company was offered and allotted to public ... cent of each class or kind of equity
shares or debentures convertible into equity shares issued
by the company was offered and allotted to public
short) in respect of issue of Secured
2
Redeemable Non-Convertible Debentures ('NCDs' for short)
and consequently made an investigation as to whether
secured loans as per details given here as under:
(a)Non-convertible debentures Rs.2391.64 lakhs
(b) Term loan Rs. 988,94 lakhs
Total ... these shares out of funds available after raising loans on non convertible debenture and term loan only. Investment in shares could not be made
Rrpr Holding Pvt. Ltd. vs Sebi on 20 July, 2022
Author: Tarun Agarwala
Bench: Tarun
Companies
(Share Capital and Debentures) Rule, 2014 (hereinafter
referred to as 'Share Capital and Debenture Rules")
and Regulation 52(1) read with Regulation ... reserve
and failed to invest 15% of the amount of non-
convertible debentures maturing as on 31st March,
2020 as required under the ILDS Regulations
short) directing the appellant to refund the amount collected
through Optionally Convertible Debentures (OCD) jointly and
severally along with other Directors together with interest
Regulations in respect of offer and issue of the
Non-Convertible Debentures (NCDs) by the Neesa Technologies
Ltd. (hereinafter referred
