Single registration for Depository Participants: SEBI has vide its CIR/ MIRSD/5/ 2014 dated 30th December, 2014 made an amendment to the existing registration requirements. The existing requirement of obtaining certificate of initial registration to act as a participant and subsequently permanent registration to continue to act as a participant for each depository has been done …
1. Revision in Bank Rate and change in Bank Rate: RBI has vide its two Circulars dated 15th January, 2015 announced that the bank rate has adjusted from 9% to 8.75% w.e.f January 15, 2015. All penal interest rates linked to the Bank Rate are also revised as follows: Item Existing Rate Revised Rate Penal …
1. Overseas Investments by Alternative Investment Funds (AIF) Reserve Bank of India (“RBI”) has vide its Circular No.48 dated December 09, 2014, decided to permit an Indian Alternative Investment Fund (“AIF”), registered with SEBI, to invest overseas in terms of the provisions issued under the A.P. (DIR Series) Circulars No. 49 and 50 dated April …
1. Redressal of investor grievances through SEBI Complaints Redress System (SCORES) platform: SEBI has vide its Circular No: CIR/OIAE/1/2014 dated December 18, 2014 re-issued the details of the centralized web based complaints redress system ‘SCORES’. The purpose of SCORES is to provide a platform for aggrieved investors, whose grievances, pertaining to securities market, remain unresolved …
The Companies(Cost Records and Audit) Amendment Rules, 2014: The Central Government has made an amendment to Companies (Cost Records & Audit) Rules, 2014. The rules are called Companies (Cost Records & Audit) Amendment Rules, 2014 and shall come into effect from 31st December, 2014. Application of Cost Records: Cost records for products and services shall …
1. Extension of time for holding Annual General Meeting (AGM) under section 96(1) of the Companies Act, 2013-Companies registered in State of Jammu and Kashmir. Ministry of Corporate Affairs (“MCA”) vide circular 45/2014 dated 18th November, 2014 granted the extension of Annual General Meeting (“AGM”) time up to 31st December, 2014 to those Companies registered …
1. Routing of funds raised abroad to India Reserve Bank of India (“RBI”) has vide Circular No. 41 dated 25th November, 2014 clarified that Indian companies or their AD Category – I banks are not allowed to issue any direct or indirect guarantee or create any contingent liability or offer any security in any form …
1. Conditions for issuance of Offshore Derivative Instruments under SEBI (Foreign Portfolio Investor) regulations, 2014 Securities Exchange Board of India (“SEBI”) has issued the circular CIR/IMD/FIIC/ 20 /2014 dated 24th November, 2014 with respect to alignment of applicable eligibility and investment norms between Foreign Portfolio Investor (FPI) regime and subscription through the Offshore Derivative Instruments …
1. Company Law Settlement Scheme, 2014 (CLSS-2014) – Clarification u/s 164(2) of the Companies Act, 2013 MCA has vide its Circular no.41/2014 dated 15th October, 2014 clarified that in case of companies, who have filed their balance sheet and annual returns on or after 01/04/2014 but prior to launch of CLSS-2014 , disqualification under Section …
1. Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses RBI has vide circular RBI/2014-15/257 A.P. (DIR Series) Circular No.35 dated 9th October, 2014 decided to permit remittances to the Prime Minister’s National Relief Fund through the Exchange Houses subject to the condition that the remittances …
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