Updates & Amendments

Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism: SEBI has in order to facilitate promoters to dilute/offload their holding in listed companies in a transparent manner with wider participation, decided to allow the offer for sale of shares by promoters of such companies through a separate window provided by the stock exchange(s). […]

Compounding of Contraventions under FEMA, 1999: RBI Vide Circular RBI/2011-12/298 A.P. (DIR Series) Circular No.57 dated 13th December, 2011 notified that as a measure of customer service and for operational convenience, powers have been delegated to the Regional Offices of the Reserve Bank of India to compound certain contraventions of FEMA 1999. The contraventions include:

Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism: SEBI has in order to facilitate promoters to dilute/offload their holding in listed companies in a transparent manner with wider participation, decided to allow the offer for sale of shares by promoters of such companies through a separate window provided by the stock

The Companies (Accounting Standards) (Second Amendment) Rules, 2011 : MCA vide notification G.S.R­ dated 29th December, 2011 has made amendments in Companies (Accounting Standards) Rules, 2006 which will be called the Companies (Accounting Standards) (Second Amendment) Rules, 2011. The Companies (Accounting Standards) Amendment Rules, 2011: MCA vide Notification G.S.R dated 29th December, 2011 has made

Filing of Balance Sheet and Profit and Loss Account in extensible  Business Reporting Language (XBRL) mode– In partial modification of Para 1 of MCA’s Circular no. 57/2011 dated 28.07.2011, the last date for filing financial statements in XBRL mode without any additional fee due to delay by those Phase-l class of companies (excluding exempted class)

External Commercial Borrowings (ECB) Policy:RBI Vide its circular: RBI/2011 -12/273 A.P. (DIR Series) Circular No. 51 dated 23rd November, 2011 has notified that in lieu of the borrowers experiencing difficulties in raising ECBs within the existing all-in-cost ceiling in the global financial markets, it has been decided to revise the all-in-cost ceiling for ECB. The

Increase in FII debt limit in Government & Corporate Debt Category: Government vide press release dated November 18, 2011 has decided to: a. Increase the current limit of FII investment in Government Securities by US $ 5 billion raising the cap to US $ 15 billion. The incremental limit of US $ 5 billion can

SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011: SEBI in continuation of the circular No SEBI/CFD/DCR/SAST/ 1/2011/09/23 dated September 23, 2011 has issued a circular bearing No. CFD/DCR/SAST/2/2011/10/20, dated 20-10-2011,specifying the formats for disclosures under Regulation 29(1) and (2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Amendments to the Equity, IDR

Registration of Companies and LLPs with one of their objectives to do business of Architect: MCA has observed that the Registrar of companies (ROC) and the Registrar of LLP’s are incorporating companies in contravention to the provisions of Architect Act, 1972. In terms of Sec 36 & 37 Sec of the Architect Act, 1972, only

Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011: MCA Vide Notification G.S.R.(E) dated 23rd September 2011, amended form 5. Same shall come into force w.e.f 25th September 2011. Companies (Amendment) Regulations 2011: MCA Vide Notification   G.S.R.(E) dated 22nd September 2011, has informed that the Registrar shall not keep any document pending for approval