Circulars: Clarification regarding filing of Form DPT4 under Companies Act, 2013: MCA has issued circular no.27/2014 dated June 30, 2014 granting extension of 2 months upto 31-08-2014 without any additional fee in terms of Section 403 of the Act to enable the companies for filing of statement under Form DPT-4 with the Registrar. Clarification with …
Financial Commitment (FC) by Indian Party under Overseas DirectInvestments (ODI) – Restoration of Limit The Reserve Bank of India (“RBI”) has issued a circular A.P. (DIR Series) Circular No.1 dated July 3, 2014 restoring the limit of Overseas Direct Investments (ODI)/ Financial Commitment (FC) to be undertaken by an Indian Party under the automatic route …
Circulars: Circular on extension of timeline on alignment of employee benefit scheme with SEBI (ESOS and ESPS) Guidelines, 1999 SEBI has issued a circular CIR/CFD/POLICYCELL/3/2014 dated 27th June, 2014. SEBI Board has approved certain proposals for framing a new set of regulations concerning employee benefit schemes dealing in shares of the company. The new regulations …
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs Reserve Bank of India has vide its circular DNBS (PD) CC.No.376/03.10.001/2013-14 dated May 26, 2014 notified that NBFCs both Deposit accepting and non-deposit accepting registered with RBI will requiring prior written approval of the Reserve Bank in the following …
CIR/MRD/DSA/18/2014: Circular on Companies exclusively listed on De-recognized /Non-operational Stock Exchanges – 22nd May, 2014 1.SEBI vide circular dated May 30, 2012 (Exit Circular) issued guidelines in respect of exit options to stock exchanges. In terms of these guidelines, if the stock exchange is not able to achieve the prescribed turnover of Rs 1000 Crore …
Delegation of powers under section 458 of CA 2013 to Regional Director In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), Central Government has delegated to the Regional Directors at Mumbai, Kolkata, Chennai, Noida, Ahmedabad, Hyderabad and Shillong, the power and functions vested in it under the …
Availability of e-forms/non-eforms under the Companies Act, 2013. MCA has issued circular no.09/2014 dated on 25th April, 2014 notifying the availability of 46 new e-forms including 3 general e-forms with effect from 28th April, 2014. The 3 general e-forms will be used for filing 17 forms which are not available as e-forms as on date …
Corporate Governance in listed entities – Amendments to Clauses 35B and 49 of the Equity Listing Agreement. Securities Exchange Board of India vide Circular No. CIR/CFD/POLICY CELL/2/2014, dated April 17, 2014 has amended clause 35B and 49 of Listing agreement in order to align with the provisions of the Companies Act, 2013, adopt best practices …
Foreign Direct Investment (FDI) in India – Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures As per Reserve Bank of India’s circular dated September 6, 2013, a non-resident (NR) [including a Non Resident Indian (NRI)], who has acquired and continues to hold control in an …
Format for Auditors’ Certificate required under Clause 24(i) of the Equity Listing Agreement The Securities and Exchange Board of India has through Circular No . CIR/CFD/DIL/1/2014 dated March 25, 2014 prescribed a standard format for Auditors’ Certificate, which is required to be filed by the Company while filing for approval of any draft Scheme of …
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