Company Law - Corporate Law Reporter

SEBI Board Meeting

The SEBI Board met in Mumbai today and took the following decisions: SEBI (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2013 The Board considered and approved the draft SEBI (Foreign Portfolio Investors) Regulations, 2013. The SEBI (Foreign Portfolio Investors) Regulations, 2013 have been framed keeping in view the provisions of SEBI (Foreign Institutional Investors) Regulations, 1995, Qualified Foreign… Read More

Facilitating transaction in Mutual Fund schemes through the Stock Exchange Infrastructure

CIRCULAR CIR/MRD/DSA/32/2013 October 04, 2013 All Recognised Stock Exchanges, All Recognised Clearing Corporation, All Depositories. Sir / Madam, Subject : Facilitating transaction in Mutual Fund schemes through the Stock Exchange Infrastructure. 1. SEBI vide circular SEBI /IMD / CIR No.11/183204/ 2009 dated November 13, 2009 and circular CIR/IMD/DF/17/2010 dated November 9, 2010, on captioned subject, facilitate purchasing… Read More

SEBI Notification under section 16 and 28 of Securities Contracts (Regulation) Act, 1956

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, OCTOBER 3, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 3rd October, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA Notification under section 16 and 28 of Securities Contracts (Regulation) Act, 1956 No. LAD-NRO/GN/2013-14/26/6667.- In exercise of the powers conferred… Read More

SEBI permits contracts for pre-emption and options in shareholders agreements

SEBI has issued a notification today, inter alia, permitting contracts for pre-emption including right of first refusal, tag-along or drag-along rights contained in the shareholders agreements or articles of association of companies. SEBI has also permitted contracts containing an option for purchase or sale of securities subject to the following: (a) the title and ownership… Read More

Standard Operating Procedure (SOP) for stock exchanges for suspension and revocation of trading of shares of listed entities for non-compliance of certain listing conditions

For non-compliance of listing conditions, exchanges have been suspending the trading of the shares of the listed companies, which affected the interest of non-promoters much more than the promoters as the exit route used to be closed for such investors after suspension of trading. Therefore, it is now decided that the exchange in case of… Read More

“Mergers & Acquisitions In the New Era of Companies Law” – Assocham Conference

Overview The new Company Bill 2012 promises to bring easy and efficient way of doing business in India, better governance, improves levels of transparency, enhance accountability, inculcating self compliance and making corporate socially responsible. Some of the key changes to look for are in merger/de-merger processes, cross border mergers, fast track mergers between small companies… Read More

SEBI releases Development Research Group study titled, Earnings Management in India

The Securities and Exchange Board of India released today the Development Research Group (DRG) Study titled, Earnings Management in India. The study is co-authored by Prof. D. Ajit, Dr. Sarat Malik and Shri Vimal Kumar Verma. About the Study Earnings Management (EM) by companies is widespread throughout the world. The motivation to meet earnings targets… Read More

SEBI Amends bye laws & Adopts SOPs for non-compliances of listing conditions by recognised stock exchanges

CIRCULAR CIR/MRD/ DSA / 31 /2013 September 30, 2013 The Managing Director/Executive Director, All recognised Stock Exchanges. The Managing Director/Executive Director, All Depositories. Dear Sir/Madam, Subject: Amendment to bye-laws of recognised stock exchanges with respect to non-compliance of… Read More

SEBI Simplifies registration requirements for Stock Brokers

CIRCULAR CIR/MIRSD/8/2013 September 30, 2013 All Recognized Stock Exchanges and Clearing Corporations Dear Sir / Madam, Subject: Simplification of registration requirements for Stock Brokers 1. Please find enclosed the Notification No. LAD-NRO/GN/2013-14/25/24775 dated September 27, 2013 amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as Broker Regulations). As per the amendment,… Read More

Arbitration Mechanism in Stock Exchanges

CIRCULAR CIR/MRD/ICC/29/2013 26.09.2013 The Managing Director/Executive Director, All Stock Exchanges. Dear Madam/Sir, Subject: Arbitration Mechanism in Stock Exchanges 1. Reference may be made to circular no. CIR/MRD/DSA/29/2010 dated August 31,2010 and MRD/DoP/SE/Cir-38/2004 dated October 28, 2004. Para 7.4 of the said circular no. CIR/MRD/DSA/29/2010 dated August 31,2010 is being modified. 2. The para 7.4 of aforementioned circular no.… Read More

SEBI circular w.r.t. Investor Grievance Redressal Mechanism

CIRCULAR CIR/MRD/ICC/30/2013 26.09.2013 The Managing Director/Executive Director, All Stock Exchanges. Dear Madam/Sir, Subject: Investor Grievance Redressal Mechanism 1) Reference may be made to CIR/MRD/DSA/03/2013 dated January 20, 2012, CIR/MRD/DSA/24/2010 dated August 11, 2010 and MRD/DoP/SE/Cir-38/2004 dated October 28, 2004. 2) With a view… Read More

Bring in the Foreign Investor – Drop the Retrospective Tax

It took the rupee to have a lowest ever fall for the Government to understand that the decision of retrospective amendments to tax was a big blow to the Indian economy. The foreign investor had lost trust in India after seeing the regulatory barriers and was reluctant to do business in India. There are 16… Read More

CSR Index to be developed – First of its kind in India

Indian Institution of Corporate Affairs (IICA) and BSE Ltd. today signed an MoU in Mumbai to work collaboratively to develop a Corporate Social Responsibility (CSR) index, take up capacity building on CSR, conduct education and awareness programmes, and other activities to facilitate a more effective corporate participation in CSR areas. Shri Sachin Pilot, Minister of… Read More