Category - Company Law

Dealing between Client and Stock Broker – SEBI Clarification

CIRCULAR SEBI/ MIRSD /Cir/ 01/ 2011 May 13, 2011 The Managing Directors/Chief Executive Officers/ Executive Directors/Officiating Executive Directors of all the Recognized Stock Exchanges Dear Sir/Madam, Sub: Clarification on circular dated December 3, 2009 on ˜Dealings between a Client and a Stock broker 1. This is with reference to SEBI circular No. MIRSD/SE/Cir-19/2009 dated December… Read More

Companies (Amendment) Regulations, 2011

GSR - (E):- In exercise of the powers conferred by sub-sections (1), (2),(5) and (8) of section 25 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following regulations further to amend the Companies Regulations, 1956, namely:- 1. (1) These regulations may be called the Companies (Amendment) Regulations, 2011 (2)… Read More

MCA: Companies (Accounting Standards) Amendment Rules, 2011

GOVERNMENT OF INDIA, MINISTRY OF CORPORATE AFFAIRS New Delhi, dated 11 May, 2011 G.S.R. (E).- In exercise of the powers conferred by clause (a) of sub-section (1) of Section 642 read with sub-section (1) of Section 21A and sub-section (3C) of Section 211 of the Companies Act, 1956 ( 1 of 1956), the Central Government… Read More

Murli Deora Stresses to expedite the Process of Liquidation Of Companies

Union Minister for Corporate Affairs Shri Murli Deora has desired that concerted action to be taken to expedite the process of liquidation of companies which is currently taking inordinately long. In the conference of Official Liquidators organised by the Ministry recently to discuss ways for expediting liquidation process the it was opined that one of… Read More

MCA issues Corrigendum to its circular on XBRL reporting

MCA issues corrigendum on filing of Balance Sheet and Profit & Loss Account in extensible Business Reporting Language (XBRL) mode The Ministry of Corporate Affairs has issued a corrigendum after noticing some errata on the circular issued on March 31st, 2011 regarding the filing of Balance Sheet and Profit & Loss Account in extensible Business… Read More

SEBI- Reporting of Offshore Derivative Instruments(ODIs)/ Participatory Notes(PNs)

SEBI- New reporting format for ODIs / PNs to be implemented from July, 2011 Circular- CIR/IMD/FIIC/6/2011 dated-May 12, 2011 All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam, Sub: Reporting of Offshore Derivative Instruments(ODIs)/ Participatory Notes(PNs) activity 1. Please refer to SEBI Circular No. CIR/IMD/FIIC/1/2011 dated January 17, 2011 related to the… Read More

Tags: Offshore Derivative InstrumentsParticipatory Notes

Clarification of applicability of XBRL for FY 2009-10 – MCA

The MCA has excluded the banking companies, insurance companies, power companies, NBFCs and overseas subsidiaries of these companies from the applicability of reporting of Balance sheet and Profit & Loss A/c for the year 2009-10 in XBRL language.   General Circular No.25/2011, dated 12.5.2011 All Regional Directors; All Registrar of Companies Subject: Filling of Balance Sheet and Profit… Read More

Govt. redrafting Rules for Appointment of Merchant Bankers

The Government is in the process of redrafting the proposal document format for appointment of merchant bankers to avoid the conflict of interest between public and private share sale issues. There was an issue in SAIL... That part (appointment of merchant bankers) of the document was drafted way back in 2001, we are trying to… Read More

CCI Releases Regulation of Combinations for Corporate Sector

The Competition Commission of India (CCI) today released the regulation of Combinations related with the implementation of provisions of Section 5 & 6 of Competition Act (the Combination Provisions, which have  been envisaged to prevent creation of anti competitive environment in Indian economy),are coming into effect from 1st June, 2011. Elaborating the modalities of new rules  to the media… Read More

Tags: cciCombination RegulationsCompetition Commission

Approval for FDI in Limited Liability Partnership firms

The Cabinet Committee on Economic Affairs today approved the proposal to amend the policy on allowing Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) firms.   The FDI in LLPs will be implemented in a calibrated manner, beginning with the ˜open™ sectors where monitoring is not required, subject to the following conditions: (a) LLPs… Read More

Tag: FDI in LLP

CCI notifies Combination Regulations to regulate M&As

Competition Commission of India (CCI) (Procedure in regard to the transaction of business relating to combination) Regulation 2011 The Competition Commission of India (CCI) today  notified regulations requiring corporates to seek its approval before going in for high value mergers and acquisitions. Only those proposals would need the CCI™s nod where the companies have combined assets… Read More

Tags: cciCombination RegulationsCompetition CommissionM&A

BSE seeks to revive its wholesale debt trading platform

The country's oldest stock exchange, the BSE, is looking to revive its wholesale debt trading platform with the waiver of annual charges and lower net worth requirements for those willing to trade on the bourse. The exchange has decided to waive off the annual subscription fee of Rs 25,000 for its wholesale debt market (WDM)… Read More

Tag: BSE

SEBI cautions bourses on money laundering from Iran and North Korea

Sebi has asked stock exchanges in the country to be cautious in dealings with funds and entities from Iran and North Korea fearing possible black money flow and terror financing risks from those countries into the Indian stock market, The country's top bourse NSE's investigation department today said in a circular to the bourse's members… Read More

Tags: black moneymoney laundering

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