Right Of First Refusal: A Contractual Restriction On Transfer Of Shares
Introduction Among various provisions of incorporating documents such as shareholder™s agreement in a corporation, an item will often appear labeled ROFR / Right of First Refusal. ROFR is a contractual right that obliges the selling shareholder not to sell its shares in the company to a third party without offering his shares to another party… Read More
External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs)
RBI/2013-14/397 A.P. (DIR Series) Circular No. 78 December 3, 2013 To All Authorised Dealer Category I Banks Madam / Sir External Commercial Borrowings (ECB) by Holding Companies / Core Investment Companies for the project use in Special Purpose Vehicles (SPVs) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular… Read More
RBI seeks Comments on Draft Framework for dealing with Domestic Systemically Important Banks (D-SIBs)
The Reserve Bank of India today released on its website, the draft framework for dealing with Domestic Systemically Important Banks (D-SIBs). The Reserve Bank has sought views/comments on the document from banks, other institutions and the public at large. Suggestions and comments on the draft framework may be sent to the Principal Chief General Manager, Reserve Bank… Read More
United Nations Handbook on Selected Issues in Administration of Double Tax Treaties for Developing Countries
Excerpt from the Document..... Preface Over the past decade, the relationship between the mobilization of financial resources for development and international tax cooperation featured prominently in the outcome documents of major United Nations conferences and summits on economic and social matters. These include the 2002 Monterrey Consensus, the 2008 Doha Declaration on Financing for Development, as well as the outcomes… Read More
Investment in Credit Information Companies
DBOD.CID.BC.No.74/20.16.042/2013-14 November 29, 2013 All Credit Information Companies Investment in Credit Information Companies In exercise of the powers conferred by sub-section (1) of Section 11 of Credit Information Companies (Regulation) Act, 2005, and in supersession of its direction on Investment in Credit Information Companies dated November 20, 2008, Reserve Bank of India, being satisfied that… Read More
A Clarion Call to BPOs in india
Introduction: Business Process Outsourcing is the transfer of non- core business activities of a particular entity to another entity, which has as its core-business the business outsourced. The different kinds of services offered by BPO's include Customer Support, Technical Support, Telemarketing, Insurance Processing, Data Processing, Internet / Online / Web Research and so on. There… Read More
Conditional exemption to exporters under the Essential Commodities Act, 1955
The Union Cabinet yesterday approved exemption to exporters having IEC Code issued by DGFT from the purview of stock holding limits under the Essential Commodities Act, 1955 with respect to edible oilseeds, edible oils and rice. This will help exporters benefit from economies of scale and bigger operation for optimally meeting export demands on a… Read More
Policy on Foreign Direct Investment in the Pharmaceutical Sector
The Cabinet considered the proposal of the Ministry of Commerce and Industry, for review of the policy on foreign direct investment in the pharmaceutical sector. The Cabinet decided that the current policy in brownfield and greenfield projects in the pharmaceutical sector will continue subject to the additional condition that in all cases of FDI in… Read More
Consultation Paper seeking Public Comments on proposed SEBI (Research Analyst) Regulations
The consultation paper and draft SEBI (Research Analyst) Regulations have been placed on the SEBI website for public comments. Comments are invited on the Consultation Paper and draft Regulations latest by December 21, 2013. The full text of the Consultation Paper and draft Regulations is available on Corporate Law Reporter (www.corporatelawreporter.com) for download. Consultation Paper and Draft… Read More
Circular on Infrastructure Debt Fund (IDF) Foreign Institutional Investors (FIIs) which are long term investors
CIRCULAR CIR / IMD / DF / 20 / 2013 November 29, 2013 All Mutual Funds/Asset Management Companies Trustee Companies/Boards of Trustees of mutual funds Sir / Madam, Sub: Circular on Infrastructure Debt Fund (IDF) Foreign Institutional Investors (FIIs) which are long term investors 1. SEBI, vide Circular CIR / IMD / DF / 7… Read More
SEBI Circular on extension of timeline for alignment of employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999
CIR/CFD/POLICYCELL/14/2013 November 29, 2013 To All Stock Exchanges All Registered Merchant Bankers Dear Sir/Madam, Sub: SEBI Circulars No. CIR/CFD/DIL/3/2013 dated January 17, 2013 and - CIR/CFD/DIL/7/2013 dated May 13, 2013 - Extension of time line for alignment 1. SEBI vide circular No. CIR/CFD/DIL/3/2013 dated January 17, 2013, inter alia, made certain amendments to the Equity… Read More
New Amendments in Securities Contracts (Regulation) Rules, 1957 with regards to LLPs
The Gazette of India EXTRAORDINARY PART II - SECTION 3 - SUB-SECTION (i) MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 24th October, 2013 G.S.R.705(E).-In exercise of the powers conferred by section 30 of the Securities Contracts (Regulation) Act, 1956, (42 of 1956), the Central Government hereby makes the following rules further… Read More
SEBI releases Paper seeking public comments on proposals for allowing certain class of companies to file shelf prospectus for public issuance of non-convertible debt securities
Proposals for allowing certain class of companies to file shelf prospectus for public issuance of non-convertible debt securities - Paper seeking public comments Every issuer is required to file a Prospectus with Registrar of Companies before making a public issue. To enable frequent issuers to raise money, without undergoing the procedure for filing Prospectus for every issuance, the… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
