Section 23 of the Banking Regulation Act, 1949 – Relaxations in Branch Authorisation Policy
RBI/2015-16/148 DBR.No.BAPD.BC.34/22.01.001/2015-16 August 6, 2015 All Domestic Scheduled Commercial Banks (excluding RRBs) Madam / Dear Sir Section 23 of the Banking Regulation Act, 1949 - Relaxations in Branch Authorisation Policy Please refer to circulars DBOD.No.BAPD.BC.54 and 60/22.01.001/2013-14 dated September 19, 2013 and October 21, 2013 respectively on the above subject, permitting domestic scheduled commercial banks (other than RRBs) to… Read More
Stakeholders to be cautious while subscribing open offers by companies
Markets regulator Sebi asked investors to be 'alert' about public announcements of share purchase plans of the companies where they have invested.A company needs to issue a 'public announcement' in newspapers and through stock exchanges for the benefit of investors. The delisting and open offer decisions can impact the interest of shareholders in a big… Read More
Formats under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011(Regulations)
SEBI CIRCULAR CIR/CFD/POLICYCELL/3/2015, August 05, 2015 To All Recognised Stock Exchanges All Registered Merchant Bankers Dear Sir/Madam, Sub: Formats under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011(Regulations). 1. The formats for the reports/disclosures to be filed under the Regulations have been prescribed by SEBI vide circular No SEBI/CFD/DCR/SAST/ 1/2011/09/23 dated September 23, 2011,… Read More
Cabinet gives nod to the amendments in Arbitration Act
Due to the reason of ensuring the faster settlement of commercial disputes , the cabinet had cleared the amendments to the Arbitration Act which sets a drop dead timeline for the settlement of cases by the arbitrators. Under the amendments to the Arbitration and Conciliation Act, 1996 cleared by the Union Cabinet, an arbitrator will… Read More
Ministry of Finance (MoF) to issue more FAQs on black money law
The government will issue another set of clarifications in the form of ˜Frequently Asked Questions (FAQs)™ on the Undisclosed Foreign Income and Assets Act, popularly known as the Black Money Act. There will be a next set of FAQs and further clarifications on a number of queries being raised. The ministry had released 32 FAQs… Read More
Introduction of Composite caps for simplification of Foreign Direct Investment(FDI) Policy to attract Foreign Investments in various sectors
The Department of Industrial Policy and Promotion has issued a press note No. 8 (2015 Series) after reviewing the caps in FDI Policy on various sectors in the Consolidated FDI Policy Circular of 2015 which is in force from 12th May, 2015 by introducing various composite caps to ensure and bring up simplification and uniformity… Read More
No Requirement of Registration of Ship Repair Unit with Director General of Shipping under Customs Act, 1962
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 43/2015-Customs New Delhi, the 4th August, 2015 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), the Central Government, on being satisfied that it is necessary in the public interest so… Read More
SEBI releases FAQs on delisting of Securities
1. What is meant by delisting of securities? The term "delisting" of securities means permanent removal of securities of a listed company from a stock exchange. As a consequence of delisting, the securities of that company would no longer be traded at that stock exchange. 2. What is the difference between Voluntary delisting and… Read More
Introduction of GST Bill may be delayed
The Narendra Modi-government may wait for the Budget session to get the Constitution Amendment Bill for introduction of Goods and Service Tax passed. The Bill has not been listed for consideration yet. If the Constitution Amendment Bill does not get passed during the current session, the chances of implementing the GST from April 1 next… Read More
Sourcing norms for single-brand retail likely to be reviewed
The rules and regulations with respect to the single brand retailing as a part of the Foreign Direct Investment(FDI) are likely to be reviewed as the Modi led government opposed FDI in multi-brand retail, seems to be planning to remove hurdles for international single-brand retailers, which are allowed up to 100 per cent FDI. Even… Read More
Introduction of Composite caps for simplification of Foreign Direct Investment(FDI) Policy to attract Foreign Investments in various sectors
The Department of Industrial Policy and Promotion has issued a press note No. 8 (2015 Series) after reviewing the caps in FDI Policy on various sectors in the Consolidated FDI Policy Circular of 2015 which is in force from 12th May, 2015 by introducing various composite caps to ensure and bring up simplification and uniformity… Read More
ICSI comes out with the responses to stakeholders queries w.r.t SS-1 & SS-2 under CA 2013
This is with reference to the announcement inviting queries/concerns from stakeholders on Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) issued by ICSI, effective from 1st July 2015 by the Institute of Company Secretaries of India. In this regard, ICSI is pleased to inform you that the… Read More
SEBI seeks clarifications on InterGlobes’s (Indigo Airlines) 2500 crore IPO
The apex body for regulating the capital market has sought further clarifications from InterGlobe Aviation (Indigo Airlines) on its 2500 crore Initial Public Offer (IPO). As the company has made certain defaults while complying with the disclosure requirements for the initial public offer, SEBI has again asked the company to submit the clarifications w.r.t the… Read More
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