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Circulars & Notifications

 

mca icon Company Law

Notification dated 30.03.2017

In the Companies (Audit and Auditors) Rules, 2014, after Clause 11(c), clause 11(d) has been included.

 

Notification dated 17.03.2017

  • The Rules shall come into force on 1st of April, 2017.
  • It prescribes the manner of valuing share-based payment transactions.

Notification dated 06.03.2017

The Rules shall come into effect from 06.03.2017 replacing the erstwhile Trade Mark rules, 2002.

 

Notification dated 28.02.2017

Among others, the following are the important changes brought in by the Amendment:

  • Rule 6 which deals with the manner of transfer of shares stands altered.
  • Rule 7 which deals with the manner of claiming refunds by the claimants stands altered.

 

Notification dated 28.02.2017

In the Proviso to Rule 5(1) of the Companies (Transfer of Pending Proceedings) Rules, 2016 the words “sixty days” shall be substituted with “six months”.

 

Circular dated 22.02.2017

It is hereby clarified that Section 391(2) would apply only in case of a foreign company which has issued prospectus or IDRs pursuant to provisions of Chapter XXII of Companies Act, 2013.

 


 

sebi icon SEBI

Notification dated: 20.01.2017

It has been decided that stock exchanges shall formulate a comprehensive policy document for providing stock market related data to the market participants in a fair and transparent manner, irrespective of the type of mechanism used by the stock exchanges for broadcasting of data.

 

Notification dated 20.01.2017

Based on the recommendation of CDAC and in consultation with the stakeholders, it has been decided that the criteria for eligibility, retention and reintroduction of derivative contracts on commodities shall be followed by all national commodity derivatives exchanges (‘exchange’).

 

Notification dated 05.01.2017

SEBI vide circular dated October 10, 2016 provided a period of three months to the ELCs on the DB to submit an action plan to list or to provide exit to shareholders to the designated stock exchanges. In light of representation received seeking extension of time to submit plan of action, it is decided to extend the time till March 31, 2017. All other conditions as mentioned in the SEBI circular dated October 10, 2016 remain unchanged.

 

Notification dated 05.01.2017

The concept of Board evaluation in India is at a nascent stage. It has been brought to SEBI’s notice by market participants that as the number of listed entities in India is very large, many of them may not have much clarity on the process of Board Evaluation and hence, may need further guidance. Thus, SEBI has made a study and come with a guidance on board evaluation in this Circular.

 

Notification dated 04.01.2017

SEBI, in consultation with stakeholders, is in process of laying down requisite regulatory framework for facilitating and regulating financial services relating to securities market in an International Financial Services Centre (IFSC). Based on consultations held with the stakeholders on the proposed regulatory framework on participation of Eligible Foreign Investors (EFIs), partial modification are made to the guidelines and mentioned in this Circular.

 

Notification dated 02.02.2017

SEBI has established its own Investor Protection and Education Fund. Based on his, the sale of securities whose custodians is unable to deliver the securities due to unforeseen circumstances, the sale of these securities and the proceeds thereof shall be credited to the investor protection and education fund. Similarly, corporate benefits received in the form of cash shall be credited to the fund within 7 days of the receipt of the same.

 


 

fema iconFEMA

Notification dated 16.02.2017

It has been decided to permit Multi-lateral and Regional Financial Institutions in which India is a member country to invest in Rupee denominated bonds issued overseas by Indian entities.

 

Notification dated 02.02.2017

NRIs are permitted to access to the exchange traded currency derivatives market for hedging the currency risks arising out of their investments in India under the Foreign Exchange Management Act, 1999 subject to compliance of the terms and conditions prescribed under the said Notification.

 

Notification dated: 25.01.2017

Indian Party is prohibited from making direct investment in an overseas entity (set up or acquired abroad directly as JV/ WOS or indirectly as step down subsidiary) located in the countries identified by the FATF as “non co-operative countries and territories” as per list available on FATF website www.fatf-gafi.org or as notified by the Reserve Bank of India from time to time.

 

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