Legal Updates - Corporate Law Reporter

MCA issues clarification on Section 135(5) of Companies Act, 2013

General Circular No. 06/2018 F. No. 08/05/2018-CSR Governement of India Ministry of Corporate Affairs 5th Floor, 'A' Wing , Shastri Bhawan, Dr. R.P. Road , New Delhi-110001 Dated: 28.05.2018 Subject: Clarification with regard to provisions under section 135(5) of the Companies Act, 2013 Sir, I am directed to say that concerns have been raised … Read More

RBI revises Bank rate Monetary Policy Statement 2018-19 to 6.50 percent

RBI/2017-18/185 DBR.No.Ret.BC.107/12.01.001/2017-18 June 06, 2018 The Chairperson / CEOs of all Scheduled and Non Scheduled Banks Dear Sir / Madam, Change in Bank Rate Please refer to our circular DBR.No.Ret.BC.82/12.01.001/2017-18 dated August 02, 2017 on the captioned subject. 2. As announced in the Second Bi-Monthly Monetary Policy Statement 2018-19 dated June 06, 2018, the Bank Rate stands adjusted… Read More

Govt. notifies Rate of Exchange of different Foreign Currencies to Indian Currency

Ministry of Finance 07 JUN 2018 In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification of the Central Board of Indirect Taxes and Customs(CBIC) No.43/2018-CUSTOMS (N.T.), dated 17thMay, 2018 except as respects things done or omitted to be done before such… Read More

SEBI(Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2018

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th of June, 2018 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2018 No. SEBI/LAD-NRO/GN/2018/24. ─ In exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of… Read More

SEBI(Registrars to an Issue and Share Transfer Agents) (Second Amendment) Regulations, 2018

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th of June, 2018 SECURITIES AND EXCHANGE BOARD OF INDIA (REGISTRARS TO AN ISSUE AND SHARE TRANSFER AGENTS)(SECOND AMENDMENT) REGULATIONS, 2018 No. SEBI/LAD-NRO/GN/2018/25- In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the… Read More

Circular on Go Green Initiative in Mutual Funds:SEBI

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2018/92 June 05, 2018 All Mutual Funds/ Asset Management Companies (AMCs)/ Trustee Companies/ Boards of Trustees of Mutual Funds Sir / Madam, Subject: Circular on Go Green Initiative in Mutual Funds A. A copy of the Gazette Notification No.SEBI/LAD-NRO/GN/2018/14 dated May 30, 2018 on Amendments to SEBI (Mutual Funds) Regulations, 1996 is enclosed for… Read More

SEBI Circular on Total Expense Ratio for Mutual Funds

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2018/91 June 05, 2018 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/ Madam, Subject: Total Expense Ratio for Mutual Funds A. A copy of the Gazette Notification No.SEBI/LAD-NRO/GN/2018/14 dated May 30, 2018 on Amendments to SEBI (Mutual Funds) Regulations, 1996 is enclosed for implementation. B. Charging of additional… Read More

RBI releases Second Bi-monthly Monetary Policy Statement, 2018-19

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25 per cent. Consequently, the reverse repo rate under the LAF stands adjusted to 6.0… Read More

RBI releases Statement on Developmental and Regulatory Policies on 6th June 2018

This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency and debt management; fostering innovation in payment and settlement system; and, facilitating data management. I. Regulation and Supervision 1. Increase in Liquidity Coverage Ratio (LCR) carve-out from Statutory Liquidity Ratio (SLR) As per… Read More

Govt. amends Prevention of Money-laundering (Maintenance of Records) Rules, 2005

CIRCULAR SEBI/HO/MIRSD/DOSR1/CIR/P/2018/93 June 6, 2018 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. All Recognized Depositories 4. Depository Participants through Depositories 5. Association of Mutual Funds in India 6. Mutual funds through AMFI 7. Portfolio Managers 8. KYC Registration Agencies (KRAs) 9. Alternative Investment Funds (AIFs) 10. Collective Investment Schemes… Read More

SEBI amends Credit Rating Agencies Regulations, 1999

CIRCULAR SEBI/ HO/ MIRSD/ DOP2/CIR/P/2018/ 95 June 06, 2018 All Credit Rating Agencies Registered with SEBI Dear Sir/ Madam, Sub: Amendment to Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 1. Please find enclosed Gazette Notification No. SEBI/LAD-NRO/GN/2018-15 dated May 30, 2018 in respect of Securities and Exchange Board of India (Credit… Read More

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018

President approves Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018 Dear Professional Colleague: The President gave assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 on 6th June,2018. The complete ordinance can be accessed at the link below: IBC Ordinance - June 6, 2018 The Key highlights of the Ordinance are as follows: 1.… Read More

President Approves Promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018

The President gave assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 on 6th June,2018. The Ordinance provides significant relief to home buyers by recognizing their status as financial creditors. This would give them due representation in the Committee of Creditors and make them an integral part of the decision making process. It will also… Read More