Securities and Exchange Board Of India (Buy Back of Securities) (Amendment) Regulations, 2013. The Securities and Exchange Board Of India (“SEBI”) has made certain amendments to the SEBI (Buy Back of Securities) Regulations, 1998. The SEBI (Buy Back of Securities) (Amendment) Regulations, 2013 have come into force on 8th August, 2013, the day on which …
Foreign Institutional Investor (FII)/ Qualified Financial Institutions (QFI) investments in Security Receipts The SEBI has, vide circular no. CIR/IMD/FIIC/9/2013, dated, 09.07.2013, informed all the FIIs that – Department of Industrial Policy and Promotion(DIPP) issued consolidated FDI policy in April, 2013 stating that the FII’s can invest in security receipts given by ARC’s upto the limit …
Clarification on SEBI’s Circular dated August 13, 2012 providing for the “Manner of Dealing with Audit Reports filed by Listed Companies.” SEBI has vide circular no. CIR/CFD/DIL/9/2013 dated June 5, 2013, given clarification with regard to restatement of books of accounts of listed companies. The main concern raised is whether the restatement of books of …
Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism SEBI has through its recent Circular No. CIR/MRD/DP/17 /2013 dated May 30, 2013 amended the comprehensive guidelines on sale of shares through OFS mechanism issued vide earlier circular nos CIR/MRD/DP/18/2012 dated July 18, 2012 and circular CIR/MRD/DP/04/2012 dated January …
Redressal of investor grievance through SEBI Complaint Redress System (SCORES). SEBI issued circular No.CIR/OIAE/1/2013 dated April 17, 2013 for Redressal of investor grievance through SEBI Complaint Redress System (SCORES). Pursuant to the provisions of Section 15C of the SEBI Act, 1992 all listed companies are instructed to redress the grievances of the investors within 30 …
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013 SEBI vide notification dated March 26, 2013 has made the following amendments in SEBI (SAST) Regulations, 2011: Clarification on reckoning the period of ninety days in case of increase of voting rights due to buyback by Target Company. Relevant date …
Guidelines for Enabling Partial Two-Way Fungibility of Indian Depository Receipts (IDRs) : SEBI has in order to encourage more number of foreign companies to issue IDRs in the Indian market and also to enable the investors to take informed investment decision, decided to provide a detailed roadmap and guidelines for the future IDR issuances as …
Rationalisation process for obtaining PAN by Investors SEBI has with a view to bring about operational flexibility and in order to ease the PAN verification process, advised the intermediaries to verify the PAN of their clients online at the Income Tax website without insisting on the original PAN card, provided that the client has presented …
Clarification on Clause 36 of the Equity Listing Agreement: Securities and Exchange Board of India (hereinafter referred to as “SEBI”) has vide Circular No. CIR/CFD/DIL/2/2013 dated January 3, 2013 has informed that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not …
Mini derivative (Futures & Options) contract on Index (Sensex & Nifty): SEBI has vide Circular No. CIR/DRMNP/4/2012 dated 20th November, 2012 decided to discontinue mini derivative contracts on Sensex and Nifty Indices with a view to ensure that small/ retail investors are not attracted towards derivative segments. However, the existing unexpired contracts may be permitted to …
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