Corporate Law Reporter - The Daily Journal

Government asks SEBI to relax norms w.r.t Follow-on public offerings (FPO)

The government has asked market regulator Securities and Exchange Board of India (Sebi) to allow relaxations in rules for follow-on public offerings (FPOs). For the 2014-15 disinvestment programme, the Centre intends to give more weight to the FPO route than the offer-for-sale (OFS) route, to ensure better participation from retail investors. Both FPO and OFS routes are… Read More

Market hits fresh record highs may touch 31,000 by the end of December

Benchmark indices rallied 1 per cent each in trade on Monday to hit their respective fresh record highs, led by strong buying seen in frontline stocks such as ICICI Bank (BSE 3.54 %), ONGC (BSE 5.33 %), Tata Motors (BSE 3.98 %) and L&T. The S&P BSE Sensex rallied over 300 points to hit its… Read More

Repository of Independent Directors operationalised

As per Section 152 of the Companies Act, 2013 which contains the provisions of the Manner of appointment of Independent Directors, which may be done by accessing the data bank to be maintained by any institution in this regard which shall be authorized by the Central Government. In the light of above, by the virtue… Read More

PM’s Independence Day speech set out a Growing India Model;Urged to follow Good Governance

Prime Minister Narendra Modi in his maiden Independence Day speech spoke on a wide range of issues, from financial inclusion schemes to stressing on need to enhance manufacturing. Modi said that for India to make its presence felt on the global stage, there was immediate need to channelise the talent of the youth. He spoke… Read More

Companies (Meetings of Board and its powers) Second Amendment Rules, 2014

The Ministry of Corporate Affairs has issued a notification with respect to the Companies (Meetings of Board and its powers) Second Amendment Rules, 2014 dated 14.08.2014 bringing out clarification for various issues which have caused a sense of dilemma to all the stakeholders. The amendments are contained herein below: In Rule 3 sub - rule… Read More

Parliament passes Securities Laws (Amendment) Bill, 2014 give more powers to SEBI

Rajya Sabha on Tuesday passed the Securities Laws (Amendment) Bill, 2014 which seeks to empower Securities and Exchange Board of India and facilitate a crackdown on Ponzi schemes which are used to fleece the poor. The bill which gives the Securities and Exchange Board of India (Sebi) the power to search premises, effect seizures and access call data… Read More

Version of certain e-Forms to change w.e.f 15th August, 2014

The Ministry of Corporate Affairs has issued a General Notice stating that the version of the following e-Forms shall be changed w.e.f 15th August, 2014: 1. CHG-9 2. INC-7 3. INC-1 4. MR-1 The general public is hereby informed that the latest version date can be seen in the forms tab at the Ministry's website… Read More

One Time Opportunity Company Law Settlement Scheme, 2014

The Ministry of Corporate Affairs has issued circular no. 34/2014 dated 12th August, 2014 providing one time opportunity by introducing the Company Law Settlement Scheme, 2014 in order to provide the facility to the corporate to file the Annual Returns and Annual Financial Statements as it was observed that a large number of companies have… Read More

Version of e-forms CHG-9,INC-1 and MR-1 to change w.e.f 14th August 2014

The Ministry of Corporate Affairs has issued a notice to state that version of certain e-forms CHG-9,MR-1 and INC-1 is likely to change with effect from 14th August, 2014. The dates have been specifically mentioned for every form with respect to the date of latest updated version. So, the stakeholders are requested to plan their… Read More

Liberalised Remittance Scheme for resident individuals-clarification

RBI/2014-15/171 A. P. (DIR Series) Circular No. 19 August 11, 2014 To All Category - I Authorised Dealer Banks Madam / Sir, Liberalised Remittance Scheme for resident individuals-clarification Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 5 dated July 17, 2014, in terms of which it was… Read More

Revision in Statutory fee for filing application for Registration of Trademark

The "Ministry of Commerce, Department of Industrial Policy & Promotion" vide notification dated 1st August, 2014 has revised the Statutory Fee payable to the Trademark Registrar on making an application for registration of a Trademark (Form TM-1) to Rs. 4,000/- from existing fee of Rs. 3,500/- for every Application in Single Class. Similarly Statutory Fee for "Application for the… Read More

RBI announces rate of interest on Floating Rate Bonds for Period August 2014-August 2015

The rate of interest on the Floating Rate Bonds, 2015 (II) [FRB, 2015(II)] applicable for the year (August 10, 2014 to August 9, 2015) shall be 9.18 per cent per annum. It may be recalled that the rate of interest on the FRB, 2015(II) was set at a mark-up (as decided in the auction held… Read More

High returns in less time may lead to big troubles says SEBI

Capital markets regulator Sebi has launched an all-out mass media campaign to make the public aware about troubles of investing on hearsay and in pursuit of high returns in less time. Using various media including TV, radio and print, the Securities and Exchange Board of India is specially targeting the collective investment schemes (CIS) wherein investors are promised doubling… Read More