Legal Updates - Corporate Law Reporter

External Commercial Borrowings (ECB) Policy – Revised framework

RBI/2015-16/255 A.P. (DIR Series) Circular No.32 November 30, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy – Revised framework Attention of Authorised Dealer Category – I (AD Cat I) banks is invited to A.P. (DIR Series) Circular No. 5 dated August 1, 2005 containing the basic framework under which… Read More

Stringent Authentication mechanism through Corporate Head Quarter Server for filing of Correction statements and download of TDS certificates, Consolidated files etc. by Banks/Corporates

F.No.: DGIT(S)/CPC(TDS)/Corp_Authentication Mech/2015-16/14557-14690 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi Notification No. 3/2015 New Delhi, 1st of December 2015 Subject: Stringent Authentication mechanism through Corporate Head Quarter Server for filing of Correction statements and download of TDS certificates, Consolidated files etc. by Banks/Corporates - regarding Section 200… Read More

Simplification of procedure for Form No.15G & 15H

F.No.: DGIT(S)/CPC(TDS)/DCIT/15GH /2015-16/14425-556 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi Notification No. 4/2015 New Delhi, 1st of December 2015 Subject: Simplification of procedure for Form No.15G & 15H — regarding Section 197A of the Income tax Act provides for no deduction in certain case by submitting… Read More

Introduction of system-driven disclosures in Securities Market

CIRCULAR CIR/CFD/DCR/17/2015 December 01, 2015 To All Listed Entities All Registered Registrar & Share Transfer Agents All Depositories All Nationwide Stock Exchanges Dear Sir/Madam, Introduction of system-driven disclosures in securities market 1. SEBI has specified the disclosure requirements relating to acquisition, sale and pledge of securities under the SEBI (Substantial Acquisition of Shares and Takeovers)… Read More

Format for financial results for listed entities which have listed their debt securities and/or non-cumulative redeemable preference shares

CIRCULAR CIR/IMD/DF1/9 /2015 November 27, 2015 All Listed Entities All the Recognized Stock Exchanges Dear Sir/Madam, Sub: Format for financial results for listed entities which have listed their debt securities and/or non-cumulative redeemable preference shares 1. In order to enable investors to make well-informed investment decisions, timely, adequate and accurate disclosure of financial results on… Read More

Version of Form 4 and 11 LLP is modified w.e.f 29th Nov 2015.

The Ministry Of Corporate Affairs has notified that Version of Form 4 and 11 LLP is modified with effective from 29th Nov 2015. All Stakeholders are requested to plan accordingly. Read More

Formats for publishing financial results

CIRCULAR CIR/CFD/CMD/15/2015 November 30, 2015 To All Listed Entities All Recognized Stock Exchanges Dear Madam / Sir, Sub.: Formats for publishing financial results 1. In order to enable investors to make well-informed investment decisions, timely, adequate and accurate disclosure of financial results on a periodical basis is critical. At the same time, to ensure comparability,… Read More

Signing Advance Pricing Agreements (APAs)

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 27th November, 2015 Subject : Signing Advance Pricing Agreements (APAs) - regarding It has been the endevour of the Government to foster an environment of co-operation in matters… Read More

Guidance Note on Annual Return

Guidance Note on Annual Return The Institute of Company Secretaries of India(ICSI) has issued a Draft Guidance Note on Annual Return dated November 28, 2015. As you are aware,the Ministry of Corporate Affairs vide its notification dated November 16, 2015 has substituted Form MGT-7 through the Companies (Management and Administration) Third Amendment Rules, 2015. The Institute has come out… Read More

CLR Flash: MCA extends due date of Annual Filing Forms under Companies Act, 2013 till 30th December, 2015

Dear Professional Colleague, The Ministry of Corporate Affairs(MCA) has issued circular no. 15/2015 today to extend the due date of filing of Forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) and relax the additional fees for the forms filed till 30th December, 2015. The circular is appended below for your kind reference. General Circular No.15/2015 F.No.01/34/2013-CL-V… Read More

Timelines for Compliance with various provisions of Securities Laws by Commodity Derivatives Exchanges

CLR Note:The Securities and Exchange Board (SEBI) of India has issued as circular with reference number CIR/CDMRD/DEA/03/2015 dated November 26, 2015 for Timelines for Compliance with various provisions of Securities Laws by Commodity Derivatives Exchanges. CIRCULAR CIR/CDMRD/DEA/03/2015 November 26, 2015 To, The Managing Directors / Chief Executive Officers of all Commodity Derivatives Exchanges Dear Sir / Madam, Sub: Timelines… Read More

Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.IBD.BC. 61/23.07.001/2015-16 dated November 26, 2015 for Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks. RBI/2015-16/252 DBR.IBD.BC. 61/23.07.001/2015-16 November 26, 2015 All Foreign Banks operating in India Dear Sir/Madam, Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks Please… Read More

Central KYC Records Registry (CKYCR) – template for Know Your Customer (KYC) and reporting requirements under Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standards (CRS)

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.AML.BC.No.60/14.01.001/2015-16 dated November 26, 2015 for Central KYC Records Registry (CKYCR) - template for Know Your Customer (KYC) and reporting requirements under Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standards (CRS) RBI/2015-16/251 DBR.AML.BC.No.60/14.01.001/2015-16 November 26, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/… Read More