The Ministry of Corporate Affairs 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.
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