Company Law - Corporate Law Reporter

SEBI clarification to FIIs on offering Corporate bonds and Government securities as collateral

CIRCULAR CIR/MRD/DRMNP/9/2013 March 20, 2013 To All Stock Exchanges & Clearing Corporations All Registered FIIs and Custodians Sir / Madam, Sub: Corporate bonds and Government securities as collateral 1. Please refer to SEBI circular Nos. SEBI/DNPD/Cir- 32/2007 dated September 11, 2007 and CIR/MRD/DP/15/2010 dated April 28, 2010 permitting FIIs to offer, as collateral, cash and… Read More

MCA – Companies (Acceptance of Deposits Amendment) Rules, 2013

[TO BE PUBLISI-IED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART - II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, Dated, 21st March, 2013 G.S.R. read with section (E). - In exercise of the powers conferred by section 58A 642 of the Companies Act, 1956 (1 of 1956), the… Read More

MCA Circular on Relaxation of additional fees and extension of last date in filing of various forms

Circular No.07/2013 F. No. 17/187/2011-CL-V Government of India Ministry of Corporate Affairs 5th Floor, "A" Wing, Shastri Bhawan Dr. R.P. Road, New Delhi-110001 Dated 20/03/2013 To, All the Regional Directors All the Registrar of Companies All Official Liquidators All Stakeholders. Sub: - Relaxation of additional fees and extension of last date in filing of various forms… Read More

Company Board (Group ‘B’ Post- Section Officer) Recruitment Rules, 2013

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Shastri Bhawan, 5th floor, A-Wing New Delhi -110001 NOTIFICATION New Delhi the 15TH March, 2013. G.S.R. - In exercise of the powers conferred by the proviso to article 309 of the Constitution and in supersession of… Read More

Arbitration Mechanism through Stock Exchanges – Introduction of Automatic Process and Common Pool of arbitrators

CIRCULAR CIR/MRD/ICC/ 8 /2013 March 18, 2013 All Stock Exchanges having nation-wide trading terminals Dear Madam/Sir, Sub: Arbitration Mechanism through Stock Exchanges - Introduction of Automatic Process and Common Pool of arbitrators. SEBI has received inputs from investors regarding functioning of the arbitration mechanism at the Stock Exchanges. In light of which, you are advised… Read More

MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds

Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and… Read More

Listing And Delisting Of Securities In India: An Analysis

1. Introduction Companies require huge investments for start ups. Among the many choices that they have, they often resort to calling for investments in their organization from the public. This is done by issuing securities to the investor. The investor thus has a stake in the capital of the company. A share is merely a… Read More

SEBI observes Irregularities in Acquisition of Shares under SAST Regulations

Securities and Exchange Board of India (SEBI) has not observed any irregularities in acquisition of shares by promotes in open offers. However, SEBI has observed instances where promoters have acquired shares without fulfilling the obligation to make an open offer. The data regarding the total number of cases where violation of SEBI (Substantial Acquisition of… Read More

Companies Directors Identification Number (Amendment) Rules, 2013

The Ministry of Corporate Affairs (MCA) vide its Notification dated 15th March, 2013 amended the Companies (Director Identification Number) Rules, 2006. These Rules may be called as Companies Directors Identification Number (Amendment) Rules, 2013 and they shall came into force on the date of their publication in the Official Gazette. ******** [TO BE PUBLISHED IN THE GAZETTE… Read More

MCA Clarification under Section 372A(3) of the Companies Act, 1956

The Ministry of Corporate Affairs (MCA) vide its General Circular No. 06 /2013 dated 14.03.2013 has provided a clarification under Section 372A (3) of the Companies Act, 1956, which says that in such cases where the effective yield (effective rate of return) on tax free bonds is greater than the yield on prevailing bank rate,… Read More

GoI clarification on SEBI (Credit Rating Agencies) Regulations, 1999

According to SEBI (Credit Rating Agencies) Regulations, 1999, a credit rating agency (CRA) shall not offer fee-based services to the rated entities, beyond credit ratings and research. Further, SEBI Guidelines require a CRA to disclose annually : (a) Its total receipt from rating services and non-rating services, (b) Issuer wise percentage share of non-rating income… Read More

GoI Clarification on SME Stock Exchanges

Securities and Exchange Board of India (SEBI) vide its circular dated May 18, 2010 has prescribed the guidelines regarding setting up of a Stock exchange/ a trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SME). Subsequently on request of BSE Ltd. (BSE) and National Stock Exchange of… Read More

SEBI clarification on sharing of information between Debenture Trustees and Credit Rating Agencies

CIR/MIRSD/3/2013 March 15, 2013 To All Debenture Trustees and Credit Rating Agencies registered with SEBI Sir/ Madam, Sub: Sharing of information regarding issuer companies between Debenture Trustees and Credit Rating Agencies SEBI (Debenture Trustee) Regulations, 1993 require the Debenture Trustees (DTs) to share information regarding the issuer companies that are their clients, with Credit Rating… Read More