Compliance with the provisions of Equity Listing Agreement by listed companies-Monitoring by Stock Exchanges: Sebi has vide its Circular CIR/CFD/POLICYCELL/13/2013 dated 18th November, 2013 raised concerns that even though listed companies make disclosures to Stock Exchanges within the timeframe stipulated under the Listing Agreement; the contents of the disclosures made by such companies are not …
Clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956: Consequent to the notification of Section 185 of the Companies Act, 2013 dealing with loans to directors which corresponds to Section 295 of the Companies Act, 1956, the Ministry had been approached with a number of representations. Section 186 of …
Foreign Direct Investment (FDI) in India –definition of ‘group company’ Reserve Bank of India has reviewed the extant FDI Policy so as to incorporate the definition for ‘group company’. The same has been announced by RBI vide its notification RBI/2013-14/356 A.P. (DIR Series) Circular No.68 dated November 01, 2013. As per the definition, ‘Group company’ …
Issues pertaining to primary issuance of debt securities – Amendment to Simplified Debt Listing Agreement SEBI has decided to implement the following measures for the development of Corporate Bond Market. This decision has been taken consequent to its discussion with issuers and various other market participants and has been circulated vide Circular No CIR/IMD/DF/18/2013 dated …
Amendment to bye-laws of recognised stock exchanges with respect to non-compliance of certain listing conditions and adopting Standard Operating Procedure for suspension and revocation of trading of shares of listed entities for such non compliances. SEBI vide its circular CIR/MRD/ DSA / 31 /2013 dated September 30, 2013 has decided to streamline the processes and …
Opening of Trading Office / Non-Trading Office / Branch Office/ Representative Office abroad- RBI had vide its notification informed that the, statement in Form ORA was to be submitted to the Regional Offices of Reserve Bank on half yearly basis instead of on a monthly basis by the Authorized Dealers. RBI has now vide its …
Companies (Removal of Difficulties) Order, 2013: Ministry of Corporate Affairs (MCA)Vide Companies (Removal of Difficulties) Order, 2013 dated 20/09/2013 notified as under. The order may be called Companies (Removal of Difficulties) Order, 2013. Continuance of matters, proceedings or cases before the Company Law Board until there are transferred to tribunal under Section 434:- It is …
The Ministry of Corporate Affairs had issued a notification on 12.09.2013 bringing into force 98 sections or part thereof of the companies Act, 2013. The Ministry has vide its Circular No. 16 /2013 dated 18th September, 2013 clarified that with effect from 12.09.2013, the relevant provisions of the companies Act, 1956, which correspond to provisions …
Clarification on the notification dated 12.9.2O13. Read More »
Overseas Direct Investments – Rationalization/Clarifications – Reserve Bank of India has vide notification RBI/2013-14/220 A.P. (DIR Series) Circular No.30 dated 4th September, 2013 issued clarifications on revised guidelines pertaining to Overseas Direct Investment (ODI) by Indian companies, which was notified on August 14, 2013 wherein RBI has clarified as under: That all the financial commitments …
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 …
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