Company Law - Corporate Law Reporter

SEBI : SMS and E-mail alerts to investors by stock exchanges

CIR/MIRSD/15/2011 August 02, 2011 To All Recognized Stock Exchanges Dear Sir/Madam, Sub: SMS and E-mail alerts to investors by stock exchanges 1. SEBI receives complaints from investors against stock brokers which include alleged unauthorized trading in their accounts. SEBI has taken steps in the past to address this issue. 2. As an additional measure, it… Read More

SEBI releases new Takeover Regulations based on recommendations of Takeover Regulations Advisory Committee

PR No. 119/2011 SEBI Board meeting The Board met today in Mumbai and took the following major decisions: (I) Proposed new Takeover Regulations based on recommendations of Takeover Regulations Advisory Committee The Board considered the Report of the Takeover Regulations Advisory Committee (TRAC) and accepted most of the recommendations of TRAC. Major among them include the following: a)… Read More

SEBI Circular on Indicative portfolio or yield in close ended debt oriented mutual fund schemes

Cir/ IMD/ DF/12 /2011 August 1, 2011 All Mutual Funds, Asset Management Companies (AMCs) Sir/Madam, Sub: Indicative portfolio or yield in close ended debt oriented mutual fund schemes 1. This refers to circular SEBI/IMD/CIR No. 14/151044/09 dated January 19, 2009 regarding indicative portfolio and yields in mutual fund schemes. It was mentioned that mutual funds… Read More

SEBI Notification on Allocation of Government debt long term limits to FIIs

CIR/IMD/FIIC/11/2011 July 29, 2011 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub: Allocation of Government debt long term limits to FIIs 1. Based on the assessment of the allocation and the utilization of the limits to FIIs for investments in debt, it has been decided to allocate the unutilized… Read More

Extension of date for filing of Balance Sheet and Profit and Loss Account in XBRL mode

General Circular 57/2011; GOI; MCA; Dated 28th July, 2011 All the Regional Directors, All the Registrar of Companies/ Official Liquidators, All Stakeholders Sub: Filing of Balance Sheet and Profit and Loss Account in extensible Business Reporting Language (XBRL) mode. The Para 3 of the Circular no. 37/2011 dated 07.06.2011 may be read as under:- "… Read More

Program on Schedule VI (Companies Act 1956) and XBRL

Achromic Point is organizing a Business Program Changing Paradigm Schedule VI (Companies Act 1956) and Financial Reporting with our Knowledge Partner Deloitte, scheduled in the cities of New Delhi - 4th August, Bangalore - 19th August and Chennai - 26th August. The seminar would focus on the key concepts as well as the carve outs made to… Read More

Blocking of DIN consequent to non-filing of Statement of Affairs (SOA) in case of winding up

GENERAL CIRCULAR No.56 /2011; F. No. 35/6/2011/Insolvency GOI; MCA; Dated 28th July, 2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Subject: Blocking of DIN consequent to non-filing of Statement of Affairs (SOA) It has been observed that companies are not filing Statement of Affairs (SOA) in time in terms of section 454… Read More

Corrigendum to Gen Circular No. 54/2011 – CS & CWA in practice can also verify the docs for OL

GENERAL CIRCULAR NO. 58/2011; GOI; MCA; Dated August, 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Corrigendum to General Circular No. 54/2011. In view of the representations from professional Institutes, it has been decided to amend Para (c) the Circular No. 54/2011 dated 26th July, 2011. Para (c) of the said Circular may… Read More

MCA- Master Circular on Prosecution of Directors

Master Circular No. 1/2011; No.3/57/2011/CL- II Government of India; Ministry of Corporate Affairs; Dated 29th July, 2011 All Regional Directors, All Registrars of Companies, All Official Liquidators. Sub: Master Circular on Prosecution of Directors Regarding The question of treating a person as an officer in default by ROCs when prosecutions are launched against a company… Read More

Procedure of Shifting of Registered Office From one State to Another State Simplified

In order to simplify the procedures and cut timelines, the Ministry has decided to notify section 8 of the Companies (Second Amendment) Act, 2002 (1) of 2003 thereby the work relating to confirmation of shifting of registered office from one state to another state and consequent alteration to Memorandum of Association of the company under… Read More

Guidelines for ROC and OL for Scrutiny inspection and investigation in all winding up cases

GENERAL CIRCULAR No. 55/2011; GOI; MCA; Dated 26th July 2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Subject: Scrutiny inspection and investigation in all winding up cases. It has been noticed that winding up petitions are being filed by management after having committed major violations under the Companies Act, 1956 as well as misappropriation of… Read More

Guidelines for RDs/ROCs in the matter of scheme of arrangement /amalgamation under section 391-394

GENERAL CIRCULAR NO. 53/2011; GOI; MCA; Dated 26th July, 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Guidelines for RDs/ROCs in the matter of scheme of arrangement /amalgamation under section 391-394. It has been observed that various field formations are following different practices while sending comments to the Hon™ble High Courts in respect… Read More

Pro-active action in case of winding up petitions

GENERAL CIRCULAR NO. 54/2011; GOI; MCA; Dated 26th July 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Pro-active action in case of winding up petitions It has been noticed that winding up petitions are filed by creditors, stake holders and management before Hon™ble High courts without providing full information. This leads to waste of… Read More