SEBI UPDATE

The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference Shares) (Amendment) Regulations, 2016

SEBI has amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013.

These regulations may be called the Securities and Exchange Board of India (Issue and...Continue Reading

SEBI UPDATE

The Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2016 

SEBI has amended the Securities and Exchange Board of India (Intermediaries) Regulations, 2008

These regulations may be called the Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2016.

They shall come into force on the date...Continue Reading

Frequently Asked Questions ‐ In the matter of PACL Ltd.

BACKGROUND:

1. PACL Ltd., (PACL) had claimed to have raised/mobilisedliability aggregating to Rs.49000Crore(approx.) from various Collective Investment Schemes (CIS). SEBI vide Order dated August 22, 2014 held that schemes of PACL are in the nature of CIS and inter alia directed to return the monies collected with returns which are...Continue Reading

MCA UPDATE

New Version of e-Forms

New Version of Forms AOC-4 XBRL (Form for filing XBRL document in respect of financial statement and other documents with the Registrar), CHG-1 (Application for registration of creation, modification of charge (other than those related to debentures), CRA-4 (Form for filing Cost Audit Report with the Central Government), DIR-3C (Intimation of Director Identification Number by the company...Continue Reading

RBI UPDATE

RBI aligns Rules for Investment in Credit Information Companies (CICs)

The RBI has, in supersession of its directive dated November 29, 2013, revised its directions (DBR. CID. BC. No.98/20.16.042/2015-16 dated May 19, 2016), allowing higher Foreign Direct Investment (FDI) limits in Credit Information Companies (CICs) to entities which have an established track record of...Continue Reading

MCA UPDATE

New Version of e-Forms

New Version of e-Form CRA-4 is likely to be revised on the MCA21 w.e.f 22nd May 2016 and LLP e-Form 11 was recently updated on the MCA21. Stakeholders are advised to check the latest version before filing

MCA UPDATE

Special courts under section 435 of Companies Act, 2013

In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government hereby, after obtaining the concurrence of the respective Chief Justices of the High Courts, designates the following Courts mentioned in the Table below as Special Courts for the purposes of trial of...Continue Reading

MCA UPDATE

Commencement of Section 2(29), Sections 435 to 438 and 440 of the Companies Act, 2013 

In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 18th day of May, 2016 as the date on which the provisions of clause (iv) of sub-section (29) of section 2, sections 435...Continue Reading

MCA UPDATE

New Version of e-Forms

New Version of e-Form INC-22 (Notice of situation or change of situation of registered office) is likely to be updated on MCA21 Company Forms page w.e.f 19th May 2016. Stakeholders are advised to check the latest version before filing.

Investment by Foreign Portfolio Investors (FPI) in Corporate Debt Securities

RBI, in consultation with Ministry of Finance proposes to permit investment by FOREIGN PORTFOLIO INVESTORS (FPIs) in unlisted debt securities and securitised debt instruments. As of now FPI are permitted to invest only in listed or to-be-listed debt securities. Investment in unlisted debt securities is...Continue Reading