Legal Updates

SEBI releases circular on Acceptance of Bank Guarantees by Clearing Corporations in IFSC

CIRCULAR CIR/MRD/DRMNP/41 /2018 February 20, 2018 To All recognized Clearing Corporations in International Financial Services Centre Dear Sir / Madam, Sub: Acceptance of Bank Guarantees by Clearing Corporations in International Financial Services Centre (IFSC) 1) SEBI vide circular no. SEBI/HO/MRD/DSA/CIR/P/2016/125 dated November 28, 2016, specified the guidelines for functioning of Stock Exchanges and Clearing Corporations… Read More

Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018

In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to introduce the following bills in the Parliament:- (a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament & (b) Chit Funds (Amendment) Bill, 2018   The Banning of Unregulated… Read More

CBEC to notify Customs Tariff (Determination of Origin of Goods agreement between India and Japan) Amendment Rules, 2018

[To be Published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notificationnotifi New Delhi, the 19th February, 2018 No. 14/2018 - Customs (N.T.) G.S.R. ________ (E).- In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act,… Read More

India and Iran signs DTAA on 17th February, 2018

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17th February, 2018 PRESS RELEASE Signing of DTAA by India and Iran on 17th February, 2018 India and Iran signed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on… Read More

Computation of Daily Contract Settlement Value – Interest Rate Futures :SEBI

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/27 February 20, 2018 All recognized Stock Exchanges and Clearing Corporations Dear Sir/Madam Computation of Daily Contract Settlement Value – Interest Rate Futures Kindly refer to SEBI circular CIR/MRD/DRMNP/35/2013 dated December 05, 2013 and circular CIR/MRD/DRMNP//11/2015 dated June 12, 2015 on Exchange Traded Cash Settled Interest Rate Futures (IRF) on Government of India security.… Read More

Easing of Access Norms for investment by Foreign Portfolio Investors: SEBI

CIRCULAR CIR/IMD/FPIC/26/2018 February 15, 2018 To, 1. All Foreign Portfolio Investors (“FPIs”) through their Designated Depository Participants (“DDPs”)/ Custodian of Securities. 2. All Recognized Stock Exchanges 3. The Depositories (NSDL and CDSL) Sir/ Madam, Subject: Easing of Access Norms for investment by FPIs SEBI in consultation with stakeholders has decided to make following changes in extant… Read More

RBI circular on Acceptance of coins

RBI/2017-18/132 DCM (RMMT) No.2945/11.37.01/2017-18 February 15, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Dear Sir Acceptance of coins We invite a reference to Paragraph 1 (d) of our Master Circular DCM (NE) No. G – 1/08.07.18/2017-18 dated July 03, 2017 on Facility for Exchange of Notes and Coins… Read More

CBEC clarifies field formations can obtain SDR/CDR details directly from telecom service providers

Instruction No. 03/2018—Customs F.No. 394/21/2018-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) *** New Delhi, dated 16th February 2018 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners of Customs & CGST, All Principal Commissioners/Commissioners of Customs /… Read More

Compensation to Retail Individual Investors (RIIs) in an IPO: SEBI

Securities And Exchange Board of India CIRCULAR SEBI/HO/CFD/DIL2/CIR/P/2018/22 February 15, 2018 Registered Bankers to an Issue Registered Merchant Bankers Registered Registrars to an Issue and Share Transfer Agents Dear Sir/Madam, Sub: Compensation to Retail Individual Investors (RIIs) in an IPO 1. While the process of Applications Supported By Block Amount (ASBA) has resulted in almost complete elimination… Read More

RBI releases revised framework of resolution of stressed assets

RBI/2017-18/131 DBR.No.BP.BC.101/21.04.048/2017-18 February 12, 2018 All Scheduled Commercial Banks (Excluding Regional Rural Banks (RRB)), All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir/Madam, Resolution of Stressed Assets – Revised Framework 1. The Reserve Bank of India has issued various instructions aimed at resolution of stressed assets in the economy, including introduction of certain… Read More

MCA notifies certain sections of the Companies Amendment Act , 2017

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub' section (ii)l Government of India Ministry of Corporate Affairs Notification New Delhi, the 9th February, 2018 S.O. -(E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act 2017 (1' of 2018), the Central… Read More

Companies (Registered Valuers and Valuation) Amendment Rules, 2018 notified

[TO BEPUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY' PART II' SECTION 3, SUB-SECTION (i)l Government of India Ministry of Corporate Affairs Notification New Delhi, the 9th February, 2018 G.S.R…….(E).- In exercise of the powers conferred by section 247 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes… Read More

CBDT appoints Pr. DGIT(Systems) as the ‘designated authority’ under section 138 of the IT Act

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 12th of February, 2018 NOTIFICATION In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act,… Read More

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