News And Updates


The Companies (Share Capital and Debentures) Third Amendment Rules, 2016

MCA UPDATE

The Companies (Share Capital and Debentures) Third Amendment Rules, 2016

Ministry of Corporate Affairs has further amended the Companies (Share Capital and Debenture) Rules, 2014.

These rules may be called the Companies (Share Capital and Debentures) Third Amendment Rules, 2016

They shall come into force on the date of their publication in the Official Gazette.


Provision of Section 381(1)(a) of the Companies Act, 2013

MCA UPDATE

Provision of Section 381(1)(a) of the Companies Act, 2013

Central Government vide notification dated 19th July, 2016 has directed that the requirement of clause (a) of sub-section (1) of section 381 of the Act shall apply to a foreign company which is an airlines company having a share capital, subject to the exceptions and modifications as specified.

This notification shall come...Continue Reading


New Version of E-Forms - INC-23, MR-1 and MR-2

MCA UPDATE

New Version of E-Forms

Forms INC-23, MR-1 and MR-2 are likely to be revised on MCA21 Company Forms Download page w.e.f 21st July 2016. Stakeholders are advised to check the latest version before filing


Consultation paper for amendments to the SEBI (Real Estate Investment Trusts) Regulations, 2014

SEBI UPDATE

Consultation paper for amendments to the SEBI (Real Estate Investment Trusts) Regulations, 2014

SEBI has invited comment / suggestion on the below proposed amendments / clarification to certain provisions of the REIT regulations:

  • Removing the restriction on the SPV (only in case of such SPV being a Holding Company) to invest in other SPVs holding the assets
  • Clarifying the definition of...Continue Reading

Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations

SEBI UPDATE

Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations

To align the risk management practices of the securities market with the Principles for Financial Market Infrastructures (PFMIs), SEBI advised Clearing Corporation to implement the following:

a)        Clearing corporation shall not accept Fixed Deposit Receipts (FDRs) from trading/clearing members as...Continue Reading


SEBI (FOREIGN PORTFOLIO INVESTORS) (AMENDMENT) REGULATIONS, 2016

SEBI UPDATE

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2016 

SEBI has made amendment in SEBI (Foreign Portfolio Investors) Regulations, 2014 whereby in regulation 22, for the sub-regulation (2), the following shall be substituted:

“(2) A foreign portfolio investor shall ensure that any transfer of offshore derivative instruments issued by or on behalf...Continue Reading


Companies (cost records and audit) Amendment Rules, 2016

MCA UPDATE

Companies (cost records and audit) Amendment Rules, 2016

The Central Government has amended the Companies (Cost Records and Audit) Rules, 2014 whereby the definition of Cost Audit Report has been substituted with the following:

“(d) “cost audit report” means the duly signed cost auditor’s report on the cost records examined and cost statements which are prepared as per these...Continue Reading


Simplification of Account Opening Kit

SEBI UPDATE

Simplification of Account Opening Kit

To simplify the account opening kit, the stock broker/ DP shall make available certain standard documents to the clients, either in electronic or physical form, depending upon the preference of the client as part of account opening kit. The preference of the client shall be sought as part of the account opening form. In case the documents are made available in...Continue Reading


SEBI (LODR) (Second Amendment) Regulations, 2016

SEBI UPDATE

SEBI (LODR) (Second Amendment) Regulations, 2016

SEBI has further amended the SEBI (LODR) Regulations, 2016 whereby top 500 listed entities based on market capitalization (calculated as on March 31 of every FY) shall formulate a dividend distribution policy which shall be disclosed in their AR and on their websites. (SEBI (LODR) (Second Amendment) Regulations,2016). They shall come into force...Continue Reading


Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs)

RBI UPDATE

Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs)

Reserve Bank of India has made amendment in Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 whereby the existing Section 57 of the Master Direction has been modified as follows:

57. CDD Procedure and sharing KYC information...Continue Reading