Collective Investment Scheme | Corporate Law Reporter

Excerpts from SEBI Board Meeting

The SEBI Board met in Mumbai today and took the following decisions: 1. The Amendment to Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 The Securities Laws (Amendment) Ordinance, 2013 provides for regulation of pooling of funds under any scheme or arrangement, involving a corpus amount of one hundred crore rupees or… Read More

Tags: Collective investment scheme, Financial Stability Board, Mumbai, National Housing Bank, Search and seizure, SEBI, Securities & Exchange Board of India, Shelf registration

SEBI issues changes in Know Your Client (KYC) Requirements in Part 1 of Account Opening Form

CIRCULAR CIR/MIRSD/ 13 /2013 December 26, 2013 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. Depository Participants through Depositories 4. Association of Mutual Funds in India 5. Mutual funds through AMFI 6. Portfolio Managers 7. KYC Registration Agencies (KRAs) 8. Alternative Investment Funds (AIFs) 9. Collective Investment Schemes (CIS) 10.… Read More

Tags: AOF, Collective investment scheme, India, KYC, Mutual fund, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992, Stock exchange

MCA Measures to Prevent and Deal with Occurrence of Frauds

During the last three years and the current year (till date), the Ministry of Corporate Affairs has ordered investigations under section 235 and section 237 of the Companies Act, 1956 in 139 cases of alleged corporate frauds through the Serious Fraud Investigation Office (SFIO) of the Ministry. Giving this information in written reply to a question… Read More

Tags: Collective investment scheme, Companies Act, Companies Act 1956, Corporate Affairs Ministry, Corporate Governance, LokSabha, Sachin Pilot, West Bengal

Amendments to SEBI (Alternative Investment Funds) Regulations, 2012

1. Giving effect to the announcement in Budget for FY 2013-14 by Hon'ble Finance Minister on angel investor pools, amendments to SEBI (Alternative Investment Funds) Regulations, 2012 (AIF Regulations) have been notified thereby providing a framework for registration and regulation of angel pools under a sub-category 'Angel Funds' under Category I- Venture Capital Funds. 2. Salient features… Read More

Tags: Alternative investment, Angel investor, Australian Imperial Force, Categories of New Testament manuscripts, Collective investment scheme, Investment, Securities & Exchange Board of India, Venture capital

SEBI Finalizes Regulations for Angel Funds

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, SEPTEMBER 16, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 16th September, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) (AMENDMENT) REGULATIONS, 2013 No. LAD-NRO/GN/2013-14/24/6573.- In exercise of the powers conferred by sub-section (1) of section 30 read… Read More

Tags: Alternative investment, Alternative Investment Fund, Angel investor, Collective investment scheme, New Delhi, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992, Venture capital

SEBI (Alternative Investment Funds) Regulations 2012 (AIFR) Certain Critical Issues

By Uday N Kajaria Chartered Accountant and Company Secretary uday.kajaria@gmail.com Introduction SEBI (Alternative Investment Funds) Regulations 2012 (hereinafter referred to as ˜AIFR™) notified on 21st May, 2012 provides a platform to the investor to pool their resources for investment in specified sectors such as start-ups, early stage ventures, SME, Infrastructure sector, subscribing to unsubscribed portion… Read More

Tags: AIF, AIFR, Collective investment scheme, India, Initial Public Offer, Investment, Mutual fund, SEBI, SEBI (Alternative Investment Funds) Regulations 2012, Venture capital

Salient Points of SEBI Board Meeting Held on 12th August 2013

The SEBI Board met in Mumbai today and took the following decisions: 1. Amendment to the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 Illegal mobilization of money by unregistered Collective Investment Schemes The Board has approved the proposal to declare illegal mobilization of funds without… Read More

Tags: Collective investment scheme, Fraud, Mumbai, Prohibition of Fraudulent, SEBI, Securities & Exchange Board of India, Securities market, Unfair Trade Practices

Ordnance to Amend the Securities Laws – SEBI empowered to Regulate Pooling of Funds

An Ordinance to Amend the Securities Laws Promulgated; SEBI would have now Powers to Regulate any Pooling of Funds Under An Investment Contract Involving A Corpus Of Rs.100 Crore Or More, Attach Assets In Case Of Non-Compliance And Chairman SEBI would have Powers to Authorize The Carrying out of Search and Seizure Operations, As Part… Read More

Tags: Collective investment scheme, Crack Down, Investment, Regulate, Search and seizure, SEBI, Securities & Exchange Board of India, Special Courts

DTAA with Monaco

NOTIFICATION NO. 43/2013 DATED 12/06/2013 SO 924(E) - Whereas an Agreement (hereinafter referred to as the said Agreement) between the Government of the Republic of India and the Government of the Principality of Monaco for the exchange of information relating to tax matters was signed at Monaco on the 31st day of July, 2012 ; And… Read More

Tags: Business and Economy, Collective investment scheme, Contract, India, Monaco, Public company, Ronaldo, Securities & Exchange Board of India

RBI FAQs :: Deposit Taking Activities of Financial Entities

1. What is a Non-Banking Financial Company? A Non-Banking Financial Company (NBFC) is a company a) registered under the Companies Act, 1956, b) its principal business is lending, investments in various types of shares/stocks/bonds/debentures/securities, leasing, hire-purchase, insurance business, chit business, and c) its principal business is receiving deposits under any scheme or arrangement in one… Read More

Tags: Collective investment scheme, Financial institution, India, Mutual fund, National Housing Bank, Non-banking financial company, Reserve Bank, Reserve Bank of India

RBI Advisory :: Check before Depositing Money with Financial Entities

The Reserve Bank of India has today issued an advisory to members of public urging them to carefully evaluate their investment decisions, including making deposit with NBFCs. The advisory is part of the Frequently Asked Questions (FAQs) issued by the central bank. The FAQs explain in detail the various kinds of financial entities and the regulations governing… Read More

Tags: Collective investment scheme, finance, NBFC, Non-banking financial company, Registrar of Companies, Reserve Bank, Reserve Bank of India, Run batted in

CLR Snippets | Proper Enforcement of Regulatory Framework for Multi-Level Marketing Companies

The Government has constituted a High-Level Inter-Ministerial Group (IMG) for proper enforcement of regulatory framework for Multi-Level Marketing Companies, Non-Banking Finance Companies and Companies running Collective Investment Schemes, under the Chairmanship of Additional Secretary, Department of Financial Services, Ministry of Finance. The Group consists of Joint Secretary level officers from the Department of Economic Affairs,… Read More

Tags: Collective investment scheme, Financial services, Government, IMG, Multi-level marketing, Reserve Bank of India, Secretary of State for Economic Affairs, Securities and Exchange Board of India

Action Taken in Cases of Corporate Frauds

From the years 2009-10 to 2013-14 (till date), 132 cases of fraud/ illegal transaction have been brought to the notice of the Ministry of Corporate Affairs. Giving this information in written reply to a question in the Rajya Sabha today Shri SachinPilot, Minister of Corporate Affairs, gave details of the action taken in respect of these cases as follows: (i) In 89… Read More

Tags: Collective investment scheme, Corporate Affairs Ministry, Fraud, Securities and Exchange Board of India, Serious Fraud Investigation Office, SFIO, The Companies Act 1956