Legal Updates - Corporate Law Reporter

MCA amends Companies (Prospectus and Allotment of Securities)Rules, 2014

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, The 07 May, 2018 GSR. (E):- - In exercise of the powers conferred by section 26 read, with section 469 of the Companies Act, 2013 (18 of 2013), the Central Govemment hereby makes the folowing rures further to amend the Companies (Prospectus and Allotment of securities) Rules, 2014, namely:… Read More

Section 227 and 229 of IBC to be enforceable w.e.f 1st May 2018

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st May, 2018 S.O. 1817(E).—In exercise of the powers conferred by sub-section (3) of Section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st day of May, 2018 as the date on which the provisions of Section 227… Read More

SEBI releases circular on Trading Hours on Stock Exchanges

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/78 May 04, 2018 All recognized Stock Exchanges and recognized Clearing Corporations (except those in International Financial Services Centre) Dear Sir / Madam Trading Hours on Stock Exchanges Pursuant to the approval of the SEBI Board, in its meeting held on December 28, 2017, Stock Exchanges have been permitted to trade commodity derivatives along… Read More

SEBI seeks public views on Review of Regulations and Circulars on Market Infrastructure Institutions

May 04, 2018 PR No.: 11/2018 SEBI seeks public comments on Reports submitted by Committee on Review of Regulations and Relevant Circulars pertaining to Market Infrastructure Institutions (MIIs) A discussion paper on review of regulations and relevant circulars pertaining to Market Infrastructure Institutions (MIIs) was placed on SEBI website on February 22, 2017, for seeking public comments.… Read More

CBDT invites suggestions on draft notification pertaining to new Rule 11UAB of IT Rules, 1962

Ministry of Finance 03 MAY 2018 Finance Act, 2018 has inserted clause (via) to section 28 of the Income-tax Act, 1961 (‘the Act’) so as to provide that any profit and gains from conversion of inventory into capital asset or its treatment as capital asset shall be charged to tax as business income. It has… Read More

SEBI issues circular for effective enforcement of the Listing Regulations

CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2018/77 May 3, 2018 To, All the Recognized Stock Exchanges All Depositories Dear Sir/Madam, Sub: Non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Standard Operating Procedure for suspension and revocation of trading of specified securities. 1. In exercise of powers under Section 11A(2) of the SEBI… Read More

CBIC notifies Exchange Rate of Foreign Currency Relating To Imported and Export Goods

Goverenment of India Ministry of Finance 03 MAY 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 Excise and Customs No.33/2018-CUSTOMS (N.T.), dated 19th April, 2018 except as respects things done or omitted to be done before such supersession, the… Read More

SEBI issues Master Circular for Credit Rating Agencies

MASTER CIRCULAR FOR CREDIT RATING AGENCIES SEBI/HO/MIRSD/DOP2/CIR/P/2018/76 May 02, 2018 To, All Credit Rating Agencies Dear Sir / Madam, Subject: Master Circular for Credit Rating Agencies Securities and Exchange Board of India (SEBI) has been issuing various circulars/ guidelines from time to time. In order to enable the industry and other users to have access… Read More

Additional Risk management measures for derivatives segment :SEBI

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/75 May 02, 2018 All recognized Stock Exchanges (except Commodity Derivatives Exchanges) and recognized Clearing Corporations, including those in IFSC Dear Sir/Madam Additional Risk management measures for derivatives segment Based on the feedback received from the Clearing Corporations and the recommendations of the Risk Management Review Committee (RMRC) of SEBI, the following additional risk… Read More

GST Revenue collection in the month of April 2018 exceeds Rs. 1 Lakh Crore

The total Gross GST revenue collected in the month of April 2018 is Rs.1,03,458 crore of which CGST is Rs18,652 crore, SGST is Rs.25,704 crore, IGST is Rs. 50,548 crore (including 21,246 crore collected on imports) and Cess is Rs.8554 crore (including Rs.702 crore collected on imports). The total number of GSTR 3B Returns filed for the… Read More

ECB Policy – Rationalisation and Liberalisation: RBI

RBI/2017-18/169 A.P. (DIR Series) Circular No.25 April 27, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Rationalisation and Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency… Read More

SEBI amends Monitoring of Foreign Investment limits in listed Indian companies

CIRCULAR IMD/FPIC/CIR/P/2018/74 April 27, 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) Dear Sir / Madam, Sub: Amendment to SEBI Circular No. IMD/FPIC/CIR/P/2018/61 dated April 5, 2018 on Monitoring of Foreign Investment limits in listed Indian companies… Read More

Ind-AS XBRL deadline extended to 31st May, 2018

As per General Circular No.04/2018 dated 27th April, 2018 (which can be downloaded from the link below), the last date for filing financial statements in XBRL mode in Ind-AS has been extended to 31st May, 2018. Circular042704_27042018 Read More