eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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Clarification with regard to holding of shares or exercising power in a fiduciary capacity – Holding and Subsidiary relationship under Section 2(87) of the Companies Act, 2013
General Circular No. 20 /2013, Dated: 27th December. 2013 No.1/1212013-CL-V Government of lndia Ministry of Corporate Affairs Sth Floor, 'A'Wing, Shastri Bhawan, Dr. R.P. Road. New Delhi-110001 Dated: 27th December. 2013. To All Registrar of Companies, All Regional Directors . Subject: Clarification with regard to holding of shares or exercising power in a fiduciary capacity Holding and Subsidiary relationship under Section… Read More
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
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
RBI sets up Committee on Data and Information Management in the Reserve Bank of India
The information requirement for monetary and macro financial policies as well as supervision has become more demanding with the increasing integration of the Indian economy and markets with the global economy. Periodic assessment of the institutional process of data capture and management, therefore, becomes important to strengthen the information base of policy making. However, for… Read More
Borrowing and Lending in Rupees – Investments by persons resident outside India in the tax free, secured, redeemable, non-convertible bonds
RBI/2013-14/416 A.P. (DIR Series) Circular No.81 December 24, 2013 To All Authorised Dealer Category - I Banks Madam / Dear Sir Borrowing and Lending in Rupees - Investments by persons resident outside India in the tax free, secured, redeemable, non-convertible bonds Attention of Authorized Dealer Category - I (AD Category - I) banks is invited… Read More
RBI cautions users of Virtual Currencies against Risks
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records… Read More
Merry Christmas to all our Patrons – Team @ Corporate Law Reporter
SEBI Consultation paper on Infrastructure Investment Trusts
SEBI is inviting Public comments on the consultative paper on the aforesaid proposals as laid out in the Document attached here. Comments may be forwarded by email to Ms. Nila Salil Khanolkar, Assistant General Manager (nila@sebi.gov.in) or Mr. Naveen Gupta, Assistant Manager (naveeng@sebi.gov.in) latest by January 20, 2014. The Comments should be given in the… Read More
Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961
RBI/2013-14/412 DBOD. No.BP.BC.77/21.04.018/2013-14 December 20, 2013 The Chairmen and Managing Directors / Chief Executive Officers of all Commercial Banks (excluding Regional Rural Banks) Dear Sir, Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961 Please refer to our mailbox clarification dated November 6, 2009 with respect to… Read More
MCA Clarification with regard to applicability of section 182(3) of the Companies Act, 2013
Circular No 19/2013 No. 17/27/2013-CL-V Government of India Ministry of Corporate Affairs Shastri Bhawan, 5th Floor, 'A' Wing, Dr. Rajendra Prasad Road, New Delhi 110001 Dated 10.12.2013 To All Registrar of Companies All Regional Director Sub:- Clarification with regard to applicability of section 182(3) of the Companies Act, 2013. Sir, Ministry has received representations seeking clarification… Read More
MCA Notification on Exemption from Vessel Sharing Agreements
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 11 th December, 2013 S.O. 3641(F).- In exercise of powers conferred by clause (a) of Section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Vessel Sharing Agreements (VSAs) of Liner Shipping Industry from the provisions of Section… Read More
SEBI Rationalization of Periodic Call Auction for Illiquid Scrips
Securities and Exchange Board of India CIRCULAR CIR/MRD/DP/38 /2013 December 19, 2013 To All Stock Exchanges Dear Sir/Madam, Sub: Rationalization of Periodic Call Auction… Read More
Declaration and Undertaking regarding PCC, MCV or equivalent structure by FIIs
CIRCULAR CIR/IMD/FIIC/21/ 2013 December 19, 2013 To, All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/ Madam, Sub: Declaration and Undertaking regarding PCC, MCV or equivalent structure by FIIs. SEBI vide circular CIR/IMD/FIIC/1/2010 dated April 15, 2010 had mandated all Foreign Institutional Investors/ Sub Accounts to submit Declaration and Undertaking… Read More
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