SEBI- Reporting of Offshore Derivative Instruments(ODIs)/ Participatory Notes(PNs)
SEBI- New reporting format for ODIs / PNs to be implemented from July, 2011 Circular- CIR/IMD/FIIC/6/2011 dated-May 12, 2011 All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam, Sub: Reporting of Offshore Derivative Instruments(ODIs)/ Participatory Notes(PNs) activity 1. Please refer to SEBI Circular No. CIR/IMD/FIIC/1/2011 dated January 17, 2011 related to the… Read More
Clarification of applicability of XBRL for FY 2009-10 – MCA
The MCA has excluded the banking companies, insurance companies, power companies, NBFCs and overseas subsidiaries of these companies from the applicability of reporting of Balance sheet and Profit & Loss A/c for the year 2009-10 in XBRL language. General Circular No.25/2011, dated 12.5.2011 All Regional Directors; All Registrar of Companies Subject: Filling of Balance Sheet and Profit… Read More
Govt. redrafting Rules for Appointment of Merchant Bankers
The Government is in the process of redrafting the proposal document format for appointment of merchant bankers to avoid the conflict of interest between public and private share sale issues. There was an issue in SAIL... That part (appointment of merchant bankers) of the document was drafted way back in 2001, we are trying to… Read More
CCI Releases Regulation of Combinations for Corporate Sector
The Competition Commission of India (CCI) today released the regulation of Combinations related with the implementation of provisions of Section 5 & 6 of Competition Act (the Combination Provisions, which have been envisaged to prevent creation of anti competitive environment in Indian economy),are coming into effect from 1st June, 2011. Elaborating the modalities of new rules to the media… Read More
Approval for FDI in Limited Liability Partnership firms
The Cabinet Committee on Economic Affairs today approved the proposal to amend the policy on allowing Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) firms. The FDI in LLPs will be implemented in a calibrated manner, beginning with the ˜open™ sectors where monitoring is not required, subject to the following conditions: (a) LLPs… Read More
CCI notifies Combination Regulations to regulate M&As
Competition Commission of India (CCI) (Procedure in regard to the transaction of business relating to combination) Regulation 2011 The Competition Commission of India (CCI) today notified regulations requiring corporates to seek its approval before going in for high value mergers and acquisitions. Only those proposals would need the CCI™s nod where the companies have combined assets… Read More
BSE seeks to revive its wholesale debt trading platform
The country's oldest stock exchange, the BSE, is looking to revive its wholesale debt trading platform with the waiver of annual charges and lower net worth requirements for those willing to trade on the bourse. The exchange has decided to waive off the annual subscription fee of Rs 25,000 for its wholesale debt market (WDM)… Read More
SEBI cautions bourses on money laundering from Iran and North Korea
Sebi has asked stock exchanges in the country to be cautious in dealings with funds and entities from Iran and North Korea fearing possible black money flow and terror financing risks from those countries into the Indian stock market, The country's top bourse NSE's investigation department today said in a circular to the bourse's members… Read More
Cabinet likely to approve FDI in LLP firms
The Cabinet is likely to approve a proposal to allow foreign direct investment (FDI) in Limited Liability Partnership (LLP) firms tomorrow. Giving go ahead to FDI in LLPs would enable them to choose among domestic and foreign investors and make these more competitive. This move will also encourage more partnership firms to convert into LLPs.… Read More
Amendments in the Companies Regulations, 1956
GOI, Ministry of Corporate Affairs; Notification dated 9th May, 2011 G.S.R (E):- In exercise of the powers conferred by sub sections (1), (2), (5) and (8 ) of section 25 of the Companies Act, 1956 ( 1 of 1956), the Central Government herby makes the following regulations further to amend the Companies Regulations, 1956, namely:-… Read More
6th Annual Summit on Capital Markets by ASSOCHAM
The 6th Annual Summit on Capital Markets is being organised on the 26th May, 2011 in New Delhi wherein the guest of honour will be Shri R. Gopalan, Secretary, Department of Economic Affairs, Ministry of Finance, GOI and Dr. Thomas Mathew, Joint Secretary (CM) Department of Economic Affairs, Ministry of Finance, GOI. The discussion would be focused on… Read More
Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities
The Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities issued by the Indian Institute of Corporate Affairs (IICA) are a refinement over the Corporate Social Responsibility Voluntary Guidelines 2009, released by the Ministry of Corporate Affairs in December 2009. The Guidelines are designed to be used by all businesses irrespective of size, sector or location laying down the… Read More
Restrictions on Mutual Funds to pay Commissions to Distributors to continue
New Sebi chief UK Sinha said he does not intend to reverse rules put in place by his predecessor, by CB Bhave, that restricted the ability of mutual funds to pay commissions to distributors. Indian fund houses, which manage equity and debt schemes with a corpus of over Rs 7,000,00 crore, were hopingfor change in policies… Read More
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