This Article deals with Section 42 of the Companies Act, 2013 and is in Continuation of the Series of Comparative Analysis of Companies Act, 2013 & Companies (Amendment) Bill, 2016 of both the Existing and Proposed provisions. I have also incorporated a summary of Process of Private Placement as per the revised provisions.
It was decided that the currently existing system of physical pre-printed certificates for KVP and NSC shall stand discontinued w.e.f. 1.4.2016 and shall be replaced by ‘National Savings Certificate/Kisan Vikas Patra Certificate on electronic – mode (e-mode) . Till the CBS system transits to that e-mode, banks and post offices may choose to issue a physical certificate recorded on a passbook.
