Author name: ithelp

Amalgamation – Fixing Of Appointment Date And Effective Date

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Parties to the Case: Equitas Micro Finance Limited & Equitas Housing Finance Ltd. (“Transferor Companies”) Equitas Finance Ltd. (“Transferee Company”) Dates in a scheme of Amalgamation: A typical scheme of amalgamation provides for two dates, viz., ‘Appointed Date’ and the ‘Effective Date’. The Effective Date would be the date on which the scheme is sanctioned […]

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Amendments made to the Companies (Acceptance of Deposit) Rules, 2014

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A. Introduction: The MCA has issued the Companies (Acceptance of Deposits) Amendment Rules, 2016 on June 29, 2016, amending and expanding the list of exempted Deposits under the Companies (Acceptance of Deposit) Rules, 2014. These amendments shall come into force on the date of their publication in the Official Gazette.  These rules are summarised below

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Legal Jargon

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1. Word:Sine qua non Origin: Latin word Meaning: an indispensable and essential action, condition or ingredient. Example: Her presence was the sine qua non of every social event. 2. Word: De novo Origin: Latin word Meaning: “from the beginning”, “afresh”, “anew”, “beginning again”. Example: In a pure meritocracy, everyone must begin de novo.

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COMPARISION – TABLE F OF THE COMPANIES ACT, 2013 & TABLE A OF THE COMPANIES ACT, 1956

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S. No Basis Table F of the Companies Act, 2013 Table A of the Companies Act, 1956 Difference 1 Issue of share certificate in case of allotment to subscribers Within 2 months after incorporation No such provisions Now the Company has to issue share certificate within 2 months after incorporation to its subscribers 2 Issue

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Listing Compliances – Quarter ended June 2016

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S. No Activities Regulations Acts / Regulations, etc. Compliance Due Date 1.  Statement on Investor Complaints Specifying the number of investor complaints pending at the beginning of the quarter, those received during the quarter, disposed of during the quarter and those remaining unresolved at the end of the quarter. 13(3) SEBI Listing Regulations 2015 21st

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Reserve bank of India (RBI)

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P. (DIR Series) Circular No. 77 [(2)/10(R)] – Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 As a part of Government’s initiative for startups, it has been decided that Indian startups having overseas subsidiaries may open foreign currency account with a bank outside India for the purpose of crediting

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Securities and Exchange Board of India (SEBI)

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CIRCULAR- SEBI/HO/MRD/DP/CIR/P/2016/58 June 07- 2016 Subject: Investor Protection Fund (IPF) of Depositories The Depository System Review Committee (DSRC) had examined various aspects of the depository IPF including utilization and investment policy of IPF and quantum of funds to be transferred to IPF. The Expert Committee on Clearing Corporations also deliberated the issue with regard to

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