Net Owned Fund definition is different for both clauses, definition for clause xvi has some additional deduction i have highlighted difference in bold please see below text
 
For Clause XII
As per Rule 3(d) Net Owned Funds are defined as the aggregate of paid up equity share capital and free
reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance
sheet:
Provided that, the amount representing the proceeds of issue of preference shares, shall not be included for calculating Net Owned Funds.
 
 
For Clause XIV
The Reserve Bank of India defined “net owned fund” as
(a) the aggregate of the paid-up equity capital and free reserves as disclosed in the latest balance-sheet of the company after deducting there from 
(i) accumulated balance of loss; 
(ii) deferred revenue expenditure; and
(iii) other intangible assets; and
(b) further reduced by the amounts representing– 
(1) investments of such company in shares of– 
(i) its subsidiaries; 
(ii) companies in the same group; 
(iii) all other nonbanking financial companies; and 
(2) the book value of debentures, bonds, outstanding loans and advances
(including hire-purchase and lease finance) made to, and deposits with,– 
(i) subsidiaries of such company;
and (ii) companies in the same group, to the extent such amount exceeds ten per cent of (a) above.