1. Clarification on Government Debt Investment Limits SEBI has issued a circular CIR/IMD/FIIC/19/2014 dated 9th October, 2014 which clarifies that all investments by Long Term FPIs (Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in the USD 5 billion Government debt limit shall continue to be made …
1. Foreign Direct Investment (FDI) in India – Issue of equity shares under the FDI Scheme against legitimate dues: An Indian company under the automatic route may issue shares/convertible debentures to a person resident outside India against lump-sum technical know-how fee, royalty External Commercial Borrowings (ECBs) (other than import dues deemed as ECB or Trade …
SEBI Amendments to Clause 49 of Equity Listing Agreement – SEBI has vide its circular CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 made amendments in Clause 49 of the Listing Agreement : Some of them are as follows : The Clause 49 of the Listing Agreement shall be applicable to all companies whose equity shares are …
1. National Advisory Committee on Accounting Standards – In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956, the Central Government has decided to constitute an Advisory Committee to be called as the National Advisory Committee on Accounting Standards, which will advise the Central Government on the formulation …
1. Formats for disclosure under Regulation 30 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011(Regulations). The format for the reports/disclosures to be filed under regulation 30(1) and 30(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 has been revised. The revised format is available in the circular. 2. Information regarding Grievance …
1. External Commercial Borrowings (ECB) in Indian Rupees RBI has with a view to provide greater flexibility for structuring of ECB arrangements announced vide its circular RBI/2014-15/207 A.P. (DIR Series) Circular No.25 dated September 3, 2014, that recognised non-resident ECB lenders may extend loans in Indian Rupees subject to the following conditions: The lender should …
1. Amendment to Schedule II of Companies Act, 2013 In exercise of the powers conferred by sub-section (l) of section 46:- of the Companies Act, 2013 (18 of 2013), the Central Government has made further amendments to amend schedule II of the said Act with effect from the date of publication of this notification in …
1. Constitution of Special Investigating Team – sharing of information. In pursuance of the Hon’ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon’ble Justice M.B. Shah. In this regard, the Hon’ble Supreme Court has directed that: “All organs agencies, departments and …
1. Change in Government Debt Investment Limits. The present debt investment limits available for Foreign Portfolio Investments (FPIs) in Government securities (G-Secs) include a USD 20 billion limit for all FPIs and another USD 10 billion limit for Long Term FPIs. While the USD 20 billion limit has been fully utilized, the USD 10 billion …
1. Notification with regard to Section 203(1) of the Companies Act, 2013: In exercise of the powers conferred by the second proviso to sub-section (1) of section 203 of the Companies Act, 2013, the Central Government has notified that public companies having paid-up share capital of rupees one hundred crore or more and annual turnover …
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