Highlights of share capital and debenture 3rd Amendment rule 2016
(i)Now shares with differential rights can be issued after 5 years once the various defaults like non-payment of dividend/ interest etc made good
(ii) Start ups can issue sweat equity upto 50% of paid-up share capital upto 5 years from date of registration as start-ups
(iii)Start ups can issue ESOP to its promoters also upto 5 years
(iv)Now at preferential offer shares can be issued as partly paid-up shares as well.
(v)Now at preferential offer shares, convertible securities can be issued with an an option of fixing the conversion price at front (at time of issue) or fixing the price 30 days in advance to date of conversion based on a valuation report (not older than 60 days)
(vi)Now SH-7 can be used for filing of increase of members in case of company not having share capital
(vii) Now company issuing secured debenture can create charge on either its assets or assets of holding company or subsidiary company or associate company.
