1. Companies (Share Capital and Debentures) 2nd Amendment Rules, 2016: (Notified vide Notification dated 29th March, 2016) In the Companies (Share Capital and Debentures) Rules, 2014, in rule 12, after sub-rule (5), the following proviso shall be inserted, namely: “Provided that where all members of a company agree, the offer for buy-back may remain open …
Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism by Listed Stock Exchanges:SEBI has issued Circular No. CIR/MRD/DP/36/2016 dated February 15, 2016 regarding Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism: Comprehensive guidelines on sale of shares through Offer for Sale mechanism were issued vide circular no CIR/MRD/DP/18/2012 …
Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of physical filing from February 8, 2016: With a view to promote the ease of reporting of transactions related to Foreign Direct Investment (FDI), the Reserve Bank of India, under the aegis of the e-Biz …
Circulars: Whether Hindu Undivided Family HUF)/ its Karta can become partner/Designated Partner (DP) in Limited Liability Partnership (LLP) vide MCA Circular No. 02/2016 Reference is invited to General Circular No. 13/2013 wherein, in paragraph 2, it has been clarified that “as per section 5 of LLP Act, 2008 only an individual or body corporate may …
Circulars: Procedures for ensuring compliance with Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 (SECC Regulations) by Listed Stock Exchanges vide Circular No. CIR/MRD/DSA/01/2016 Regulation 45 of the SECC Regulations provides for listing of stock exchanges. As per Regulation 45(2) of the SECC Regulations, the Board may specify such conditions as it may …
Amendments in Rules Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: The Central Government has on 14th Dec, 2015 amended the Companies (Meetings of Board and its Powers) Rules, 2014. These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: Rule 6A is inserted after …
Introduction of system-driven disclosures in securities market: The Securities Exchange Board of India (SEBI) vide Circular No. CIR/CFD/DCR/17/2015 dated 1st December, 2015 has adopted advanced systems relating to acquisition, sale and pledge of securities under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “SAST Regulations”) and SEBI (Prohibition of …
Amendment in Regulations: Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015: Reserve Bank of India has issued Notification No. FEMA. 359/2015-RB, dated 2nd Dec, 2015 further amending Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 by inserting the following provisos: a. Amendment to Regulation 21(2)(ii) After …
Circulars: Format for Voting Results: SEBI has in exercise of the powers conferred under Regulation 44(3) read with Regulation 101(2) of Listing Regulations, vide Circular No – CIR/CFD/CMD/8/2015 dated 04.11.2015 specified the format of Voting Results prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in Annexure I to the …
Amendment in Regulations: Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015: Reserve Bank of India has in consultation with the Central Government issued Notification No. FEMA. 345/2015-RB, dated 16.11.2015 further amending Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 by substituting the existing Explanation (i) in sub-regulation (b) of Regulation 4 …
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