Controller of Capital Issues (CCI)

Controller of Capital Issues (CCI) The officer in the Department of Economic Affairs, Ministry of Finance, Government of India, who formerly administered control over capital issues in accordance with the Capital Issues (Control) Act, 1947, and its related order and rules made from time to time. This act aimed to modulate and channelise investments in desired directions, and helped maintain the health of the capital market. To do so, the Controller of Capital Issues was empowered as the sanctioning authority for any reorganization of the capital structure of public limited companies through the issue of shares – whether fresh of additional, including at a premium, rights or bonus – and debentures, etc. In other words, companies wanting to make any change in their capital structures had to obtain prior approval of their proposals from the Controller of Capital Issues. While examining such proposals, the Controller of Capital Issues acted as a “last checkpost’ to make sure that the company had obtained al government and mandatory clearances, such and industrial licenses, approval from financial institutions, etc. The office is now defunct.

You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.

Powered by WordPress