Legal Updates - Corporate Law Reporter

MCA extends date for inviting comments on National Voluntary Guidelines till 10th September 2018

The Ministry of Corporate Affairs (MCA) issued the National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs) in July 2011 with a view to provide a clear, broad-based framework for carrying out responsible business and be accountable to all its stakeholders. The NVGs were developed based on India’s socio-cultural context and priorities… Read More

SEBI extends trading hours of Securities Lending and Borrowing Segment

CIRCULAR SEBI/CIR/MRD/DoP-1/P/125/2018 August 24, 2018 All recognized Stock Exchanges and recognized Clearing Corporations (except those in International Financial Services Centre) Depositories Dear Sir/Madam, Sub: Extension of Trading hours of Securities Lending and Borrowing (SLB) Segment 1. With a view to facilitate physical settlement of equity derivatives contracts, it has been decided to permit Stock Exchanges… Read More

Companies (Registration offices and Fees)Fourth Amendment Rules, 2018

Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated 21stAugust 2018 G.S.R. ......(E)-ln exercise of the powers conferred by sections 396,398,399, 403 and 404 read with sub sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the… Read More

Last date of DIR-3 KYC extended upto 15th Sept, 2018

MCA has extended the last date of filing DIR -3KYC without any filing fees upto 15/09/2018 from 31/08/2018. The fees of ₹5,000/- shall be applicable & payable on all delayed filings w.e.f 16/09/2018. MCA has also revised the form DIR-3 KYC. Download the MCA notification F No. 01/06/2013 CL-V (Pt-I) dated 21st August, 2018. Read More

Know Your Client (KYC) Requirements for Foreign Portfolio Investors (FPIs)

SECURITIES EXCHANGE BOARD OF INDIA PRESS RELEASE Aug 21, 2018 PR No.: 36/2018 Know Your Client (KYC) Requirements for Foreign Portfolio Investors (FPIs) SEBI had issued circular No. CIR/IMD/FPIC/CIR/P/2018/64 dated April 10, 2018 in order to strengthen know your client (KYC) framework for foreign portfolio investors (FPIs) in accordance with Prevention of Money–laundering (Maintenance of Records)… Read More

Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 notified

THE INSOLVENCY AND BANKRUPTCY CODE (SECOND AMENDMENT) ACT, 2018 NO. 26 OF 2018 [17th August, 2018.] An Act further to amend the Insolvency and Bankruptcy Code, 2016. BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:— 1. (1) This Act may be called the Insolvency and Bankruptcy Code… Read More

NCLT New Delhi bench to start e-filing w.e.f.27 August 2018

National Company Law Tribunal 6th Floor,Block -3, CGO Complex, Lodhi Road , New Delhi-110003 Dated-16 th August 2018 NOTICE The National Company Law Tribunal, New Delhi is at the advance stage to start e-filing, therefore, all concerned are hereby requested to file complete application /petition/appeal/reply, etc in soft copy in pendrive (Pdf format) along with… Read More

SEBI clarifies on electronic book mechanism for issuance of securities on private placement basis

CIRCULAR SEBI/HO/DDHS/CIR/P/2018/122 August 16, 2018 To All Recognized Stock Exchanges (except Commodity Exchanges) All Recognized Depositories Issuers of debt securities/NCRPS Merchant Bankers and Brokers registered with SEBI Registrars to an Issue Primary Dealers registered with RBI Dear Sir / Madam, Sub: Electronic book mechanism for issuance of securities on private placement basis - Clarifications 1.… Read More

SEBI to streamline the process of public issue under the its Regulations

CIRCULAR CIR/DDHS/P/ 121/2018 Date: August 16, 2018 To Recognized Stock Exchanges (other than commodity stock exchanges) Self-Certified Syndicate Banks, Depositories Merchant Bankers, Stock Brokers Registrars to an Issue and Share Transfer Agents Depository Participants, Bankers to an Issue Dear Sir/Madam, Sub.: Streamlining the process of public issue under the SEBI (Issue and Listing of Debt… Read More

IBBI issues discussion paper on governance of Insolvency Professional Agencies and Information Utilities

Insolvency and Bankruptcy Board of India 14 th August, 2018 Discussion Paper Subject: Governance of Insolvency Professional Agencies and Information Utilities The institutional infrastructure under the Insolvency and Bankruptcy Code, 2016 (Code) envisages four key pillars, namely, the Adjudicating Authority (National Company Law Tribunal and Debt Recovery Tribunal), the Insolvency and Bankruptcy Board of India… Read More

MCA extends time for National Voluntary Guidelines till 31st August 2018

The Ministry of Corporate Affairs (MCA) issued the National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs) in July 2011 with a view to provide a clear, broad-based framework for carrying out responsible business and be accountable to all its stakeholders. The NVGs were developed based on India’s socio-cultural context and priorities… Read More

SEBI clarifies applicability of amendment to (LODR) Regulations mandating transfer of securities in demat form with a depository

Aug 10, 2018 PR No.: 34/2018 Amendment to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandating transfer of securities in dematerialized form with a depository SEBI amended Regulation 40 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 wherein it was intimated that transfer of securities shall not be processed unless the securities are held… Read More

SEBI enhances monitoring of Qualified Registrars to an Issue and Share Transfer Agents

CIRCULAR SEBI/HO/MIRSD/DoP/CIR/P/2018/ 119 August 10, 2018 To, All Registrars to an Issue and Share Transfer Agents registered with SEBI Dear Sir/ Madam, Subject: Enhanced monitoring of Qualified Registrars to an Issue and Share Transfer Agents 1. SEBI constituted a Committee under the Chairmanship of Shri R. Gandhi, Former Deputy Governor, Reserve Bank of India to… Read More