Legal Updates - Corporate Law Reporter

SEBI issues Master Circular for Stock Broker

MASTER CIRCULAR SEBI/HO/MIRSD/DOP1/CIR/P/2018/87 June 01, 2018 To, All Stock Exchanges All Registered Stock Brokers Dear Sir / Madam, Subject: Master Circular for Stock Brokers 1. Securities and Exchange Board of India (SEBI), from time to time, has been issuing various circulars/directions to Stock Brokers. In order to enable the users to have access to the… Read More

Task Force engages stakeholder for drafting the new Direct Tax Law

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 28th May, 2018 PRESS RELEASE Stakeholder engagement by the Task Force drafting the new Direct Tax Law Consequent to constitution of the Task Force to review the existing Income tax Act, 1961 and to draft a new direct tax… Read More

SEBI releases circular on System-driven Disclosures in Securities Market

CIRCULAR SEBI/HO/CFD/DCR1/CIR/P/2018/85 May 28, 2018 To All Listed Entities All Depositories All Nationwide Stock Exchanges Dear Sir/Madam, System-driven Disclosures in Securities Market 1. SEBI, vide circular dated December 01, 2015, had introduced system-driven disclosures in securities market detailing the procedure to be adopted for its implementation with effect from January 01, 2016. The procedure was… Read More

SEBI issues circular on Segregated Nominee Account Structure in IFSC

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/83 May 24, 2018 All recognized Stock Exchanges and recognized Clearing Corporations in IFSC Dear Sir/Madam Segregated Nominee Account Structure in International Financial Service Centre (IFSC) With a view to further facilitate ease of market access for foreign investors in IFSC and based on feedback received from market participants, it has been decided to… Read More

Govt. extends time of the Task Force for drafting a New Direct Tax Legislation

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 22nd May, 2018 PRESS RELEASE Extension of time of the Task Force for drafting a New Direct Tax Legislation A Task Force was constituted by the Government in November,2017 to review the existing Income-tax Act, 1961 and to draft… Read More

SEBI issues circular on Investment of own funds by Clearing Corporations in IFSC

Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/82 May 21, 2018 All recognized Clearing Corporations in International Financial Services Centre (IFSC) Dear Sir / Madam Investment of own funds (excluding funds lying in Core Settlement Guarantee Fund) by Clearing Corporations in International Financial Services Centre (IFSC) SEBI vide circular SEBI/HO/MRD/DRMNP/CIR/P/2016/54 dated May 04, 2016, has… Read More

RBI issues directions for setting up of IFSC Banking Units (IBUs)

RBI/2017-18/177 DBR.IBD.BC. 105/23.13.004/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs). 2. In terms of para… Read More

SEBI amends Circular on Monitoring of Foreign Investment limits in listed Indian companies

CIRCULAR SEBI/HO/IMD/FPIC/CIR/P/2018/81 May 17, 2018 To, 1. All Foreign Portfolio Investors (through their designated Custodian of Securities) 2. The Depositories (NSDL and CDSL) 3. The Stock Exchanges (BSE, NSE and MSEI) Sir/ Madam, Subject: Amendment to SEBI Circular No. IMD/FPIC/CIR/P/2018/61 dated April 5, 2018 and Circular No. IMD/FPIC/CIR/P/2018/74 dated April 27, 2018 on Monitoring of… Read More

MCA issues corrigendum to Companies (Audit and Auditors) Second Amendment Rules, 2018

MINISTRY OF CORPORATE AFFAIRS CORRIGENDUM New Delhi, the 17th May, 2018 G.S.R. 461(E).— In the notification of the Government of India in the Ministry of Corporate Affairs number G.S.R. 432(E), dated the 7th May, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 7th May, 2018, at page… Read More

Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2018 notified

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th May, 2018 G.S.R. 456(E).—In exercise of the powers conferred by sub-section (1) read with clause (i), clause (j), clause (jj) and clause (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government in consultation… Read More

RBI revises guidelines on lending to Priority Sector for Primary UCBs

RBI/2017-18/175 DCBR.BPD (PCB).Cir.No.07/09.09.002/2017-18 May 10, 2018 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam Revised guidelines on lending to Priority Sector for Primary (Urban) Co-operative Banks (UCBs) Please refer to our circular UBD.CO.BPD.(PCB).MC.No.18/09.09.001/2013-14 dated October 8, 2013 on the captioned subject and amendments thereto from time to time, consolidated in Master Circular DCBR.BPD.(PCB).MC.No:11/09.09.001/2015-16… Read More

SEBI circular on implementation of certain recommendations of Committee on Corporate Governance

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2018/79 May 10, 2018 To, 1. All the listed entities 2. All the recognized stock exchanges Sir/Madam, Sub: Circular for implementation of certain recommendations of the Committee on Corporate Governance under the Chairmanship of Shri Uday Kotak 1. The Committee on Corporate Governance under the Chairmanship of Shri… Read More

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

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, MAY 9, 2018 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 9th May, 2018 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (AMENDMENT) REGULATIONS, 2018 No. SEBI/LAD-NRO/GN/2018/10. ─ In exercise of the powers conferred by… Read More