The Reserve Bank of India (RBI), by way of Circular No. 84 issued on 6 January 2014, has provided clarifications on the issuance of non-convertible/redeemable bonus preference shares or debentures.
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.