Legal Updates - Corporate Law Reporter

SEBI releases circular on Foreign Portfolio Investment in Corporate debt securities

CIRCULAR SEBI/HO/IMD/FPIC/CIR/P/2017/112 September 29, 2017 To All Foreign Portfolio Investors through their designated Custodians of Securities The Depositories (NSDL and CDSL) Sir / Madam, Subject: Foreign Portfolio Investment in Corporate debt securities 1. SEBI, vide circular SEBI/HO/IMD/FPIC/CIR/P/2016/67 dated August 04, 2016 had redefined the INR 244,323 cr Corporate debt limit for FPIs as the Combined… Read More

SEBI changes reporting norms for Category III AIF’s regarding investment in commodity derivatives market

CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2017/110 September 29, 2017 To All Registered Category III Alternative Investment Funds All Custodian(s) of Securities Dear Sir / Madam, Sub: Change in reporting norms for Category III Alternative Investment Funds ("AIFs") regarding investment in commodity derivatives market. 1. In terms of circular no. SEBI/HO/CDMRD/DMP/CIR/P/2017/61 dated June 21, 2017, the Category III Alternative Investment… Read More

Clarification regarding the timelines for making applicable/available new Form DPT-3

General Circular No. 11 /2017 No. 1/8/2013- CL-V Government of India Ministry of Corporate Affairs 5th Floor, 'A' Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 27 th September,2017 To All Regional Directors, All Registrar of Companies, All shareholders. Subiect: Clarification regarding the timelines for making applicable/available new Form DPT-3 issued vide the… Read More

Investment by FPI in Government Securities Medium Term Framework: RBI

RBI/2017-18/68 A.P.(DIR Series) Circular No. 7 September 28, 2017 To, All Authorized Persons Madam / Sir Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident… Read More

SC judgement on Illegal import of fireworks/crackers dt. 12.09.2017

Instruction No. 13/2017- Customs F. No. 394/150/2014-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) New Delhi, dated 27th September 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners of Customs & Central Tax/Central Excise, All Principal… Read More

Clarification on Payment of Service Tax in Transitional Period

Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017. It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service was also made before 1-7-2017, but the service tax was… Read More

CBEC amends Customs Valuation Rules – Notification No. 91/2017 (NT) dated 26.09.17

Circular 39 / 2017-Customs F. No: 466 / 32 / 2015 – Cus V Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi Dated, the 26th September 2017 To, All Principal Chief Commissioners of Customs All Chief Commissioners of Customs All Principal Commissioners of Customs All Commissioner… Read More

DGFT amends import policy conditions of Urea under ITC(HS), 2017

To be published in the Gazette of India Extraordinary Part- II, Section- 3, Sub Section (ii) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi Notification No. 30/2015-2020 Dated the 26 September, 2017 Subject: Amendment in import policy condition of Urea under ITC (HS) code 3102 10 00… Read More

SEBI grants recognition to National Securities Clearing Corporation for 3 years

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 26th September, 2017 No. SEBI/LAD-NRO/GN/2017-18/019.—The Securities and Exchange Board of India, having considered the application for grant of renewal of recognition under Regulation 12 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 by National Securities Clearing Corporation Ltd, Exchange Plaza, Plot C-1,… Read More

CBDT notifies FIFA U-17 World Cup as International sporting event u/s 10(39) IT Act

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th September, 2017 (INCOME-TAX) S.O. 3129(E).—In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and… Read More

SEBI reviews norms for participation in derivatives by Mutual Funds

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2017/109 September 27, 2017 All Mutual Funds/ Asset Management Companies (AMCs)/ Trustee Companies/ Boards of Trustees of Mutual Funds Sir/Madam, Sub: Review of norms for participation in derivatives by Mutual Funds 1. Please refer to SEBI circulars No.MFD/CIR/15/19133/2002 dated September 30, 2002, No.SEBI/MFD/CIR No.03/158/03 dated June 10, 2003, No.DNPD/CIR-29/2005 dated September 14, 2005 and… Read More

Govt. notifies Customs Valuation (Determination of Value of Imported Goods) Amendment Rules, 2017

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUBSECTION (i)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 91/2017-CUSTOMS (N.T.) New Delhi, 26th September, 2017 4 Asvina, 1939 (SAKA) G.S.R. ….. (E).– In exercise of the powers conferred by section 156 read with… Read More

SEBI issues Clarification to Enhanced Supervision Circular

CIRCULAR CIR/HO/MIRSD/MIRSD2/CIR/PB/2017/107 September 25, 2017 To, The Managing Directors of all Recognized Stock Exchanges Dear Sir/Madam, Sub: Clarification to Enhanced Supervision Circular 1. SEBI vide circular no. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016, has issued guidelines covering broad areas for enhanced supervision based on the recommendation of the committee constituted by SEBI. Further SEBI issued certain… Read More