Legal Updates - Corporate Law Reporter

RBI Master Circular on Miscellaneous Instructions to All Non-Banking Financial Companies

RBI/2011-12/30; DNBS (PD) CC No.236 /03.02.001/2011-12; July 1, 2011 All Non-Banking Financial Companies (NBFCs) Master Circulars - Miscellaneous Instructions to All Non-Banking Financial Companies In order to have all current instructions in one place, the Reserve Bank of India has issued master circulars to NBFCs on various subjects. It is advised that miscellaneous directions/ instructions… Read More

RBI Master Circular on Guarantees and Co-acceptances

RBI/2011-12/57 DBOD. No. Dir. BC. 8 /13.03.00/2011-12 July 1, 2011 10 Ashadha 1933 (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam Master Circular - Guarantees and Co-acceptances Please refer to the Master Circular DBOD.No.Dir.BC.12/13.03.00/2010-11 dated July 1, 2010 updating instructions/ guidelines issued to banks till June 30, 2010 on matters relating to issue… Read More

RBI Master Circular on FraudsFuture approach towards monitoring of frauds in NBFCs

RBI/2011-12/23; DNBS.PD.CC. No.229 / 03.10.042 / 2011-12; July 1, 2011 All Deposit taking NBFCs (including RNBCs) Master Circular-Frauds Future approach towards monitoring of frauds in NBFCs As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India had issued a Master Circular No 149 on… Read More

RBI Master Circular on Guidelines For Relief Measures By Banks In Areas Affected By Natural Calamities

RBI/2011-12/81 RPCD. No. PLFS. BC. 8 / 05.04.02/ 2011-12 July 1, 2011 The Chairman/Managing Director/Chief Executive Officer All scheduled commercial banks (excluding Regional Rural Banks) Dear Sir, MASTER CIRCULAR - GUIDELINES FOR RELIEF MEASURES BY BANKS IN AREAS AFFECTED BY NATURAL CALAMITIES Please refer to our Master Circular RPCD.No.PLFS.BC.1 /05.04.02/2010-11 dated July 1, 2010, incorporating guidelines… Read More

Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010

ï»¿ RBI/2011-2012/36; DNBS (PD) CC. No. 26 / SCRC /26.03.001/ 2011-2012; July 1, 2011 Notification as amended upto June 30, 2011 - Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010 As you are aware, in order to have all… Read More

RBI Master Circular on Interest Rates on Rupee Deposits Primary (Urban) Co-operative Banks

RBI/2011-12/42 UBD.PCB. MC.No.11/13.01.000/2011-12 July 1, 2011 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir, Master Circular Interest Rates on Rupee Deposits Primary (Urban) Co-operative Banks Please refer to our Master Circular UBD.BPD.MC.No.11/ 13.01.00/2010-11 dated July 1, 2010 on the captioned subject (available at RBI website www.rbi.org.in). The enclosed Master Circular consolidates and updates all the… Read More

RBI Master Circular on Maintenance of Statutory Reserves- Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks

RBI/2011-12/40 UBD.PCB. MC.No:15 /12.03.000/2011-12 July 1, 2011 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir, Master Circular on Maintenance of Statutory Reserves- Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks Please refer to our Master Circular UBD CO.PCB.MC.No.15/12.03.000/2010-11 dated July 1, 2010 on the captioned subject. The… Read More

Exemption for delay in Filling of Balance Sheet and Profit and Loss Account

General Circular no 43/2011 GOI;MCA; Dated 7th July, 2011 All the Regional Directors, All the Registrar of Companies/ Official Liquidators; All stakeholders Sub: Filling of Balance Sheet and Profit and Loss Account in Extensible Business Reporting Language (XBRL) mode. In partial modification to Para 2 of Ministry's Circular_26-2011_ dated 18.05.2011, the filing on MCA 21… Read More

E-filing of Income Tax return in respect of companies under liquidation

GENERAL CIRCULAR NO. 41/2011 GO I; MCA; Dated 6th July 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: E-filing of Income Tax return in respect of companies under liquidation. The Official Liquidators have reported that they are facing problems in e-filing of Income Tax Returns in compliance as they are required to mention… Read More

DIN now valid for LLPs

CLR Note: DPIN continues to remain active for the Designated Partners of a LLP only in case where they have the DPIN alloted. DPIN will stand cancelled only in case where they have both DIN and DPIN respectively. GOI; MCA; Dated 15th July, 2011 In exercise of the powers conferred by sub- section (1) and (2) of section 79 of the Limited Liability… Read More

Companies eligible for shifting from Trade for Trade Settlement (TFTS)to normal Rolling Settlement- SEBI

CIRCULAR/MRD/DP/ 09 /2011 To, All Stock Exchanges Dear Sir / Madam Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS)to normal Rolling Settlement 1.It is observed from the information provided by the depositories that thecompanies listed in Annexure ˜A™ have established connectivity with both… Read More

RBI Master Circular on Resource Raising Norms for Financial Institutions

RBI/2011-12/67 DBOD.No.FID.FIC.1/01.02.00/2011-12 01 July, 2011 10 Aashadha 1933 (Saka) The CEOs of the All-India Term Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Master Circular- Resource Raising Norms for Financial Institutions Please refer to Master Circular DBOD. No. FID.FIC.1/01.02.00/2010-11 dated July 01, 2010 on the captioned subject. The enclosed Master Circular consolidates… Read More

RBI Master Circular on Wilful Defaulters

RBI/2011-12/73 DBOD No. CID.BC. 1/20.16.003/2011-12 July 1, 2011 i) All scheduled commercial banks (excluding RRBs and LABs) and ii) All India Notified Financial Institutions Dear Sir, Master Circular on Wilful Defaulters As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars to banks and financial institutions… Read More