Section 2   [ View Judgements ]

Amendment of rule 2


In the Companies (Acceptance of Deposits) Rules, 1975:- in rule 2, in clause (b), for sub clause (x), the following sub-clause shall be substituted, namely:-



"(x) any amount raised by the issue of bonds or debentures secured by the mortgage of any fixed assets referred to in Schedule VI of the Act excluding intangible assets of the company or with an option to convert them into shares in the company:



Provided that in the case of such bonds or debentures secured by the mortgage of any fixed assets referred to in Schedule VI of the Act excluding intangible assets the amount of such bonds or debentures shall not exceed the market value of such fixed assets";

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