Company Law - Corporate Law Reporter

Govt proposes setting up of the NCLT & NCLAT

The Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT). Provisions have been incorporated in the Companies Bill, 2011 which has been introduced in the Lok Sabha on 14.12.2011. The establishment of NCLT and NCLAT as specialized Quasi Judicial Bodies with professional approach will have the following… Read More

SEBI-Allocation of debt limits in corporate debt old and Government Debt long term category to FIIs

CIR/IMD/FIIC/09/2012 March 12, 2012 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub Allocation of debt limits in corporate debt old and Government Debt long term category to FIIs 1. Based on the assessment of the utilization of the limits to FIIs for investments in corporate debt old and Government Debt long… Read More

General Circular No. 4/2012 – Extension of time for filing of DIN 4 upto 30th April, 2012

General Circular No. 4/2012 No 2/1/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ˜A™ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated the 9th March, 2012 To All Regional Directors All Registrar of Companies. Sub: Allotment of Director™s Identification Number (DIN) under Companies Act, 1956 Sir, In continuation of General Circular… Read More

Procedure for introduction of a Share Capital Clause in yhe Memorandum of a Company Limited by Guarantee

PROCEDURE FOR INTRODUCTION OF A SHARE CAPITAL CLAUSE IN THE MEMORANDUM OF A COMPANY LIMITED BY GUARANTEE Ishita Chatterjee Lecturer, Faculty of Law, UniversityofAllahabad, Allahabad(U.P.),India Introduction For the formation of a company, the Memorandum of Association is regarded as a fundamental document of a company. In the view of Palmer[1]- It is a document of… Read More

MCA- Constitution of a Committee to formulate a Policy Document on Corporate Governance

General Circular No. 3/ 2012; No.17/46/2012-CL.V Government of India; Ministry of Corporate Affairs' Dated :07th March, 2012 OFFICE MEMORANDUM Subject:-Constitution of a Committee to formulate a Policy Document on Corporate Governance. The undersigned is directed to state as under:- 1. While the issue of how corporates decide to carry on their affairs is largely a matter of… Read More

SEBI- Clearing and Settlement of OTC trades in Commercial Paper (CPs) & Certificates of Deposit (CDs)

Cir. /IMD/DF/8/2012 March 05, 2012 All Intermediaries registered with SEBI under Section 12 of the SEBI Act. (Through the stock exchanges for stock brokers, sub brokers, depositories for depository participants, custodians for FIIs and FVCIs, AMFI for Asset Management Companies.) Dear Sir/ Madam, Sub: Clearing and Settlement of OTC trades in Commercial Paper (CPs) & Certificates… Read More

SEBI-Guidelines for Credit Rating Agencies

CIR/MIRSD/3/2012 March 01, 2012 To All Credit Rating Agencies Registered with SEBI Dear Sir/Madam, Guidelines for Credit Rating Agencies 1. According to SEBI (Credit Rating Agencies) Regulations, 1996 (the Regulations), a credit rating agency (CRA) has been defined as a body corporate which is engaged in the business of rating of securities offered by way of public or rights… Read More

Registration of Companies or LLPs with the object to carry on the profession of CA, Cost Accountant, CS shall be initiated on production of NOC etc. from concerned dept.

General Circular No. 2/2012; F. No. 17/165/2011-CL V Government of India; Ministry of Corporate Affairs; Dated the 1st March, 2012 To, All Regional Director, All Registrars of Companies, Registrar of LLPs Subject: Registration of Companies or LLPs which have one of their objects is to carry on the profession of Chartered Accountant, Cost Accountant, Architect, Company Secretary… Read More

Comptroller and Auditor General of India, Mr. Vinod Rai is the new chairman of the 45 nation strong Asian Organization of the Institutions of the Accountants General

India today took over the chair of assembly and governing board of Association of Supreme Audit Institutions (ASOSAI). Comptroller and Auditor General of India, Mr. Vinod Rai is the new chairman of the 45 nation strong Asian Organization of the Institutions of the Accountants General. ASOSAI is the largest regional organization of the government auditors.… Read More

Circular on Amendments to SEBI (Mutual Funds) Regulations, 1996 & Valuation of Debt and Money Market Instruments

CIRCULAR Cir/IMD/DF/6/201 2 February 28, 2012 All Mutual Funds/Asset Management Companies (AMCs) Sir/Madam, Sub: Circular on Mutual Funds A. Amendments to SEBI (Mutual Funds) Regulations, 1996 1. Please find enclosed a copy of the gazette notification No. LAD-NRO/GN/201 1-12/38/4290 dated February 21, 2012 pertaining to Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2012 for your… Read More

Circular for Mutual Funds on Distributor Due Diligence & Clarification to Regulation 24 of SEBI (Mutual Funds) Regulations, 1996

Circular No. Cir/IMD/DF/7/2012 , Dated- February 28, 2012 All Mutual Funds/ Asset Management Companies (AMCs) Sir/Madam, Sub: Circular for Mutual Funds A. Distributor Due Diligence 1. Please refer to SEBI circular no. SEBI/IMD/DF/13/201 1 dated August 22, 2011 regarding the captioned matter. 2. It is hereby clarified that the due diligence of distributors is solely the… Read More

Amendments to the Combination Regulations Relief to Corporate entities by making process of filings simpler

The provisions of the Competition Act, 2002 (Act) relating to regulation of combinations and the Competition Commission of India (Procedure in regard to thetransaction of business relating to combination) Regulation, 2011 (CombinationRegulations) have been in force with effect from 1st June, 2011. The Competition Commission of India, after gaining experience of implementation of the Combination Regulations for… Read More

SEBI-Standardized lot size for SME Exchange / Platform

CIRCULAR CIR/ MRD / DSA /06/2012 February 21, 2012 To Managing Director / Chief Executive Officer of Stock Exchanges and their Clearing Houses/Corporations Dear Sir/Madam, Sub: Standardized lot size for SME Exchange / Platform 1. SEBI vide circular dated May 18, 2010 prescribed the framework for setting up of a stock exchange/trading platform by a recognized… Read More