Competition Commission of India (CCI) and the Directorate General for Competition of the European Commission (DG, Competition) have signed a Memorandum of Understanding on Cooperation in the Field of Competition Laws. The MoU was signed during the ongoing 3rd BRICS International Competition Conference at New Delhi today by Mr Joaquin Almunia, Vice President for Competition,… Read More
The Ministry of Corporate Affairs has invited suggestions/ comments for the 5th and 6th tranche of Draft Rules being framed under the Companies Act, 2013. Under the 5th tranche, Draft Rules for Winding-Up have been put up; while under the 6th tranche, Draft Rules for Cost Audit have been put up for giving suggestions/ comments.… Read More
The Heads of the Competition Authorities of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People™s Republic of China and the Republic of South Africa signed a Joint Accord namely ˜DELHI ACCORD™ on November 22, 2013 during the ongoing 3rd BRICS International Competition Conference (ICC) at New Delhi. BRICS Competition… Read More
SEBI has issued a discussion paper on 'Review of guidelines governing stock related employee benefit schemes', for public comments. SEBI has issued SEBI (ESOS & ESPS) Guidelines, 1999 to enable listed companies to reward their employees through stock option schemes and stock purchase schemes. Based on the requests/ suggestions/ recommendations received from various market participants,… Read More
Dr. Manmohan Singh, Hon™ble Prime Minister of India will inaugurate 3rd BRICS International Competition Conference (ICC) on Thursday, the 21st November, 2013 in a function at New Delhi. The 2-day conference is being organised by Competition Commission of India (CCI) on behalf of BRICS countries in pursuance of the Beijing Consensus, New Delhi Declaration and Action Plan adopted at Fourth BRICS Leaders Summit… Read More
CLR Editorial Notes: After some of the Companies Act 2013 Sections were notified, the Ministry of Corporate Affairs received several suggestions and representations regarding the notification of Section 185 of Companies Act 2013 (which deals with loans to Directors - and which corresponds to Section 295 of the Companies Act, 1956). This comes at a… Read More
RBI/2013-14/374 A.P. (DIR Series) Circular No. 75 November 19, 2013 To All Category - I Authorised Dealer Banks Madam / Sir Trade Credit for imports into India- Online submission of data on issuance of Guarantee/Letter of Undertaking (LoU) /Letter of Comfort (LoC) by ADs Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P.… Read More
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on October 24, 2013, the Government of India has approved 20 proposals of Foreign Direct Investment (FDI) amounting to Rs. 915.83 crore approximately. In addition, one proposal viz., M/s Federal Bank Ltd., Kerala, amounting to Rs. 1400.00 crore has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA). Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 24.10.2013 Following Twenty (20) proposals have been… Read More
Draft Regulations -SEBI (Procedure for Search and Seizure) Regulations, 2013, for public comments. 1. Securities Laws (Amendment) Second Ordinance, 2013 was promulgated on September 16, 2013 conferring explicit powers on the Chairman, SEBI to authorise Investigating Authority or any other officer of SEBI to conduct search and seizure under sub-section (8) of section 11C of… Read More
CIR/CFD/POLICYCELL/13/2013 November 18, 2013 To All Recognised Stock Exchanges Dear Sir(s)/Madam(s), Sub: Compliance with the provisions of Equity Listing Agreement by listed companies - Monitoring by Stock Exchanges 1. The Equity Listing Agreement mandates listed companies to make periodic and event based disclosures which are price sensitive in nature and which will have bearing on… Read More
Refinance to SIDBI to ease Liquidity Stress to MSE Sector In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of `5,000 crore to the Small Industrial Development Bank of… Read More
RBI/2013-14/372 DPSS.CO.PD. No. 1088/02.10.003/2013-14 November 14, 2013 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Authorised ATM Network Operators /Card Payment Network Operators Authorised White Label ATM Operators Madam / Dear Sir, White Label ATMs… Read More
Good evening. I thank the organisers for inviting me. These are challenging times for the Indian economy, but I have dwelt on those near-term challenges elsewhere. Let me turn instead to the opportunities we have to make India a far better place than it is today, focussing in particular on finance. Much of the world… Read More