MCA UPDATE

Constitution of Benches of NCLT

The President, NCLT has constituted Principal Benches, Divisional Benches and Single Benches for the purpose of exercising and discharging the Tribunal's power and functions.

MCA UPDATE

Clarification on the jurisdiction of Division and Single Bench

NCLT has clarified vide order dated 06.07.2016 that the Division bench (DB) is entitled to function as a bench irrespective of any class of cases except those specified by an order of the President. Single Member Benches are authorized in addition to DB, the cases which have been transferred from erstwhile CLB and all new petitions where...Continue Reading

MCA UPDATE

e-Form AOC-04

eForm AOC-04 for filing Annual Financial Statement is likely to be amended w.r.t filing of CSR expenditure details. The revised AOC-04 eForm is likely to be available on MCA portal by 3rd week of Jul-2016. Stakeholders are requested to note that filing CSR details are mandatory. Therefore, Annual filing may be planned as per revised AOC-04

SEBI UPDATE

Consultation paper for Disclosure of financial information in offer document/placement memorandum and for Valuation in respect of SEBI (Infrastructure investment trusts) Regulations, 2014

In order to enable investors to make well-informed investment decisions, SEBI has issued Consultation paper for Disclosure of financial information in...Continue Reading

SEBI UPDATE

Electronic book mechanism for issuance of debt securities on private placement basis

SEBI has issued a circular dated April 21, 2016, wherein the use of an Electronic Book Mechanism (EBM) has been made mandatory from July 01, 2016 for issuance of debt securities on private placement basis in the primary market with an issue size of Rs. 500 crores and above, inclusive of the green shoe option.

The circular stated...Continue Reading

RBI UPDATE

Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India

Reserve Bank of India has issued Master Circular to facilitate the Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers to have all the extant instructions on the subject at one place.

MCA UPDATE

Corporate Seva Kendra (0124-4832500) 

Stakeholders are requested to select Option '1' for queries related to Name Reservation and Company Incorporation, and Option '2' for all other queries

RBI UPDATE

Master Direction on Money Market Instruments: Call/Notice Money Market, Commercial Paper, Certificates of Deposit and Non-Convertible Debentures (original maturity up to one year)

The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to the eligible market participants in regard to call/notice money market, Commercial Paper (CP), Certificates of...Continue Reading

SEBI UPDATE

FAQ's on Foreign Portfolio Investors (FPI)

With a view to guide market participants on SEBI (Foreign Portfolio Investors) Regulations, 2014 ("the Regulations"), SEBI has issued Frequently Asked Questions (FAQs) covering the following:

• Transition from FII to FPI Regime
• Transition from QFI to FPI Regime
• Eligibility of FPIs
• Role and Responsibilities of Designated Depository Participant...Continue Reading

SEBI UPDATE

Revised Formats for Financial Results and Implementation of Ind-AS by Listed Entities

SEBI, in consultation with the market participants viz. Listed Entities, Stock Exchanges and Members of the Institute of Chartered Accountants of India ('ICAI'), has prescribed the revised formats for Financial Results and Implementation of Ind-AS by Listed Entities. 

The Quarterly / Annual...Continue Reading