CIRCULAR No. MRD/DP/05/2013, DATED 8-2-2013  1.  SEBI vide its circular DNPD/5/2011, dated June 02, 2011, permitted liquidity enhancement schemes (LES) in Equity Derivatives Segment and specified broad guidelines for the same.  2.  Pursuant to the introduction of LES scheme in derivatives segment to enhance liquidity in illiquid derivative products, there was demand that similar scheme [...]

CIRCULAR no. IMD/FIIC/3/2013, dated 8-2-2013  1.  The Reserve Bank of India vide circular RBI/2012-13/391, dated January 24, 2013, had enhanced the limit for investment by FIIs in the Government Debt Long Term category by US$ 5 billion to US$ 15 billion and the Corporate non-infrastructure debt category by US$ 5 billion.

An investment adviser shall conduct yearly audit in respect of compliance with these regulations from a member of Institute of Chartered Accountants of India or Institute of Company Secretaries of India.

With respect to Mutual Fund scheme eligible under RGESS, which is a tax-saving scheme notified by the Government of India on November 23, 2012, it has been decided that - a. The maximum period for which initial offering of Mutual Fund scheme eligible under RGESS shall be open for subscription, is extended from the existing stipulation of fifteen days to thirty days.

The existing Clause 24(f) of the Listing Agreement mandates that a listed company shall file any scheme/petition, proposed to be filed before any Court or Tribunal under sections 391, 394 and 101 of the Companies Act, 1956, with the stock exchange, for approval, at least a month before it is presented to the Court or Tribunal.

The allotment of shares on preferential basis to the appellants before us is not in dispute. The allotment of preferential shares was made to the connected parties as concluded by the adjudicating officer in the impugned order. The interconnection between them has also been clearly brought out by the adjudicating officer in the impugned order.

Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism CIRCULAR No. MRD/DP/04/2013, dated 25-1-2013 1. Comprehensive guidelines on sale of shares through OFS mechanism were issued vide Circular No. MRD/DP/18/2012, dated July 18, 2012. Based on past experience of sale of shares through OFS, the mechanism of OFS [...]

SEBI Master Circular No. ISD/AML/3/2010 dated December 31, 2010 has mandated all registered intermediaries to obtain, as part of their Client Due Diligence policy, sufficient information from their clients in order to identify and verify the identity of persons who beneficially own or control the securities account.

Guidelines for providing dedicated Debt Segment on Stock Exchanges Circular no. MRD/DP/03/2013, DATED 24-1-2013 1. The market for debt securities differs from equity markets in several ways such as risk, returns, liquidity, type of participants and method of trading. While publicly issued debt securities are listed, traded and settled in a manner similar to equity, [...]

Transactions impugned in the order of the adjudicating officer took place in the ordinary course of business through the stock exchange mechanism and there was no connivance with CGMMPL and there was no knowledge about the counter party and time of execution. According to him, the transactions were at the market rate and they were [...]