Legal Updates - Corporate Law Reporter

Participation of Foreign Portfolio Investors in Commodity Derivatives in IFSC :SEBI

CIRCULAR SEBI/HO/CDMRD/DMP/CIR/P/2017/106 September 26, 2017 1. All Recognized Stock Exchanges in International Financial Services Centre (IFSC) 2. All Foreign Portfolio Investors (FPIs) through their Designated Depository Participants (DDPs)/ Custodian of Securities (Custodians) 3. All DDPs/ Custodians Dear Sir / Madam, Sub.: Participation of Foreign Portfolio Investors (FPIs) in Commodity Derivatives in IFSC 1. SEBI… Read More

RBI excludes issuances of RDBs from the limit for investments by FPIs in corporate bonds w.e.f 03.10.2017

RBI/2017-18/65 A.P. (DIR Series) Circular No. 06 September 22, 2017 To All Category - I Authorised Dealer Banks Madam / Sir, Issuance of Rupee Denominated Bonds (RDBs) Overseas Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the provisions contained in paragraphs 2 and 8 of A.P. (DIR Series) Circular… Read More

Govt. notifies Customs and Central Excise Duties Drawback Rules, effective from 01.10.2017

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st September, 2017 No. 88/ 2017-CUSTOMS (N.T.) G.S.R. 1177(E).—In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules,… Read More

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law. However, instances have been brought to the notice of department wherein, certain unscrupulous elements have conducted unauthorized / illegal searches through forged identity cards claiming to be… Read More

Govt. amends MCA notification S.O. 3118(E), dated the 3rd October, 2016

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 20th September, 2017 S.O. 3085(E).—In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956, (1 of 1956), the Central Government hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Corporate Affairs,… Read More

Govt. notifies proviso to layers of subsidiaries under companies Act w.e.f 20 September 2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 20th September, 2017 S.O. 3086(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the… Read More

MCA notifies certain provisions of Companies (Restriction on number of layers) Rules, 2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 20th September, 2017 G.S.R. 1176(E).—In exercise of the powers conferred under proviso to clause (87) of section 2, section 450 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:— 1.… Read More

MCA notifies Companies (Acceptance of Deposits) Second Amendment Rules, 2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 19th September, 2017 G.S.R. 1172(E).—In exercise of the powers conferred by sections 73 and 76 read with sub-section (1) and sub-section (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Acceptance… Read More

Integration of broking activities in Equity Markets and Commodity Derivatives Markets under single entity: SEBI

CIRCULAR SEBI/HO/MIRSD/MIRSD1/CIR/P/2017/104 September 21, 2017 1. All Recognized Stock Exchanges / Clearing Corporations 2. Stock Brokers and Clearing Members through Recognized Stock Exchanges 3. All recognised Depositories 4. Depository Participants through Depositories Sub: Integration of broking activities in Equity Markets and Commodity Derivatives Markets under single entity. Dear Sir/Madam, 1. Please find enclosed… Read More

Clarification to SEBI (IFSC) Guidelines, 2015 – Liquidity Enhancement Scheme (LES) Circular

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2017/103 September 21, 2017 All recognised Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) All recognised Stock Exchanges/ Clearing Corporations All registered intermediaries Dear Sir/Madam Clarification to SEBI (IFSC) Guidelines, 2015 - Liquidity Enhancement Scheme (LES) Circular SEBI vide circular SEBI/HO/MRD/DSA/CIR/P/2017/95 dated August 10, 2017 has granted exemption to… Read More

SEBI grants recognition to Indian Clearing Corporation Limited for 3 years

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 20th September, 2017 No. SEBI/LAD-NRO/GN/2017-18/018.—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 Indian Clearing Corporation Limited, Floor 25, P J Towers,… Read More

SEBI amends framework for Schemes of Arrangement by Listed Entities and relaxation under Rule 19 (7) of the Securities Contracts (Regulation) Rules

CIRCULAR CFD/DIL3/CIR/2017/105 September 21, 2017 To All Listed Entities who have listed their equity and convertibles All the Recognized Stock Exchanges Dear Sir/Madam, Sub: Schemes of Arrangement by Listed Entities and Relaxation under Sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957 1. SEBI Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017 lays… Read More

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

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.84/2017-CUSTOMS (N.T.), dated 7thSeptember, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines… Read More