Corporate Law Reporter - The Daily Journal

Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India

RBI/2016-2017/16 DPSS.CO.PD.PPI.No.01/02.14.006/2016-17 July 01, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Madam / Dear Sir, Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India As you are aware, the Reserve Bank of India has, from time to time,… Read More

Facility for Exchange of Soiled/ Mutilated/ Imperfect Notes

RBI/2016-17/15 DCM (NE) No.120/08.07.18/2016-17 July 14, 2016 Chairman and Managing Director/ Managing Director / Chief Executive Officer All Banks Dear Sir / Madam, Facility for Exchange of Soiled/ Mutilated/ Imperfect Notes Please refer to Reserve Bank of India (Note Refund) Rules, 2009 (NRR, 2009) and Master Circular DCM (NE) No.G-2/08.07.18/2015-16 dated July 1, 2015 on… Read More

Investments in Non-SLR instruments by State / Central Co-operative Banks

RBI/2016-17/14 DCBR.BPD.BC.No. 01/19.51.026/2016-17 Ashadha 23, 1938 July 14, 2016 All State / Central Co-operative Banks Dear Sir / Madam, Investments in Non-SLR instruments by State / Central Co-operative Banks Please refer to our circulars RPCD.CO.RF.BC.26/07.02.03/2005-06 dated August 4, 2005 and DCBR.CO.RCBD.BC.No.5/19.51.026/2015-16 dated October 21, 2015 on the captioned subject. 2. With a view to providing… Read More

Simplification of Account Opening Kit

CIRCULAR CIR/MIRSD/64/2016 July12, 2016 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. All recognised Depositories 4. Depository Participants through Depositories Dear Sir/ Madam, Subject: Simplification of Account Opening Kit 1. Presently, a stock broker/ depository participant is required, in terms of SEBI circulars: (a) No. MIRSD/ SE /Cir-19/2009 dated December… Read More

Consultation paper for Disclosure of financial information in offer document/placement memorandum and for Valuation in respect of SEBI (Infrastructure investment trusts) Regulations, 2014

A. Background 1.1. The SEBI (Infrastructure investment trusts) Regulations, 2014 (InvIT Regulations) were notified on September 26, 2014, thereby providing a regulatory framework for registration and regulation of InvITs in India. The regulations, inter alia, prescribe conditions for making a public offer and private placement and broad guidelines for making initial and continuous disclosures including… Read More

MCA releases new versions of Forms FC-2, FC-4, MGT-10, MR-1, SH-7

Forms FC-2, FC-4, MGT-10, MR-1, SH-7 and Refund Form are likely to be revised on MCA21 Company Forms Download page w.e.f 13th July 2016. Stakeholders are advised to check the latest version before filing Read More

Amendment in section 25 of the Customs Act, 1962 (52 of 1962)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 42/2016-Customs New Delhi, the 11th July, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962),… Read More

Amendment in sub-section (2) of section 138 of the Income-tax Act, 1961(43 of 1961)

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) ORDER New Delhi, the 6th July, 2016 S.O.2322 (E)- In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961(43 of 1961), the Central Government… Read More

Service tax on taxable services by way of transportation of goods by a vessel from outside India upto customs station in India

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. ---(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of… Read More

Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs)

RBI/2016-2017/11 DBR.AML.BC.No.1/14.01.001/2016-17 July 8, 2016 All Regulated Entities (REs) Dear Sir/Madam, Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs) In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, the Reserve Bank of India hereby directs that… Read More

MCA releases new version of eForm AOC-04

eForm AOC-04 for filing Annual Financial Statement is likely to be amended w.r.t filing of CSR expenditure details. The revised AOC-04 eForm is likely to be available on MCA portal by 3rd week of Jul-2016. Stakeholders are requested to note that filing CSR details are mandatory. Therefore, Annual filing may be planned as per revised… Read More

CBEC notified that Duty Free Shops (DFSs) at airports shall display prices of goods in Indian currency as well as the exchange rate

CBEC vide Circular dated July 06, 2016 notified that Duty Free Shops (DFSs) at airports shall display prices of goods in Indian currency as well as the exchange rate. CBEC had received representations from travellers that DFSs neither display prices in rupees or India made goods, which depreciates the visibility of domestically manufactured products and… Read More

SEBI made a public announcement mandating the use of Electronic book mechanism for issuance of debt securities

SEBI has made a public announcement mandating the use of Electronic book mechanism for issuance of debt securities on private placement basis. SEBI had issued a circular dated April 21, 2016 wherein the use of an Electronic Book Mechanism (EBM) had been made mandatory from July 01, 2016 for issuance of debt securities on private… Read More