Maintenance of Collateral by Foreign Institutional Investors (FII’s) in Cash and F&O segment. The Reserve Bank of India (hereinafter referred to as “RBI”) had earlier issued a circular, in terms of which FIIs may offer such securities as permitted by the Reserve Bank from time to time as collateral to the recognized Stock Exchanges in
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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
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Amendment of Companies (Acceptance of Deposit) Rules, 1975. The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) has issued a General Circular dated 21st March, 2013, amending the Companies (Acceptance of Deposit) Rules, 1975. These rules will be called Companies (Acceptance of Deposit Amendment) Rules, 2013. The amendment substitutes the following sub clauses: Amendment
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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
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Foreign Exchange Management Act,1999 – Import of precious and semi precious stones- Clarification The Reserve Bank of India (hereinafter referred to as “RBI”) has vide notification RBI/2012-13/418 A.P. (DIR Series) Circular No.83 dated 20th Feb, 2013 clarified that AD Category – I banks which are permitted to approve Suppliers and Buyers Credit including the Usance
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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
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External Commercial Borrowings (ECB) Policy – Non-Banking Financial Company – Infrastructure Finance Companies (NBFC-IFCs) RBI has decided to enhance the ECB limit for NBFC-IFCs under the automatic route from 50 % of their owned funds to 75 % of their owned funds, including the outstanding ECBs. NBFC-IFCs desirous of availing ECBs beyond 75 % of
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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
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Definition of ‘Infrastructure Loan’ of NBFCs – Harmonisation The Reserve Bank of India (hereinafter referred to as “RBI”) has vide Circular No. DNBS.PD.CC.No. 317/03.10.001/2012-13 dated 28th December, 2012 amended the definition of Infrastructure Loan for the for the purpose of NBFC Prudential Norms Directions, 2007, to read as follows: Infrastructure loan means a credit facility
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Extension of due date for filing of Cost Audit Report and Compliance Report in eXtensible Business Reporting Language (XBRL) mode The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) has in continuation to its General Circular Nos. 8/2012 dated 10th May, 2012 (as amended on 29th June, 2012) and 18/2012 dated 26th July, 2012,
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