Company cannot issue differential shares if it has been penalised during the last three years of any...........

Companies Act-Phase (I & II) Share capital and debentures

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Company cannot issue differential shares if it has been penalised during the last three years of any offence under-

RBI and SEBI

SEBI and SCRA

RBI, SEBI, SCRA and FEMA

Only FEMA

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Explanation:

Company should not have penalised for an offence under Reserve bank of India Act, 1934, The securities exchange board of India act 1992, Securities Contract Regulation Act, 1999 and Foreign Exchange Management Act 1999 in order to issue differential right shares.

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