QUERY ABOUT MAINTENANCE OF CRR & SLR

Fortnight”. (a) It shall mean the period from Saturday to second following Friday, both days inclusive.

I already knew definition of FORTNIGHT but the meaning of the words " Friday of the second preceding fortnight" remain unexplained.

Dear Sir/ Madam 1. This is my quarries and for my knowledge that if a new born Puplic limited company which is not register by SEBI guidelines wants to issue Redeemable Preference Share to the market as private placement basic what are rules and regulation to be maintained by Limited Company as per companies Act. 2. What is the limit ( In Amount or Numbers ) to issue Redeemable Preference Share in Market as private placement basic Regards Sibapada Mukherjee Email ID:- Sibo_999 @ yahoo.co.in

Example of Friday of second preceding fortnight:

1. Today is 14.2.2012 (Tuesday)

2.  Preceding fortnight was from 28.1.2012 (Saturday) to 10.2.2012 (Friday).

3.  Second preceding fortnight was from 14.1.2012 (Saturday) to 27.1.2012 (Friday).

Hence last Friday of second preceding fortnight was 27.1.2012.

Thanks

Does it mean last friday of month