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Archive: 04 June 2013

Posts in 04 June 2013

Minimum Public Shareholding – SEBI Freezes of voting rights, dividend, rights, bonus shares, split, etc. of promoter/ promoters group of non-compliant companies

June 4, 2013 486 Views 0 comment Print

The Securities Contracts (Regulation) Rules, 1957 were amended in 2010 to provide for minimum and continuous public shareholding requirement in listed companies in private sector at 25%. In terms of these Rules, all listed companies have to comply with the said requirement by June 03, 2013. This was done with a view that a dispersed shareholding structure is essential for the sustenance of a continuous market for listed securities to provide liquidity to the investors and to discover fair prices.

Technical Guide on Review and Certification of Investment Risk Management Systems and Processes of Insurance Companies

June 4, 2013 4120 Views 0 comment Print

Owing to the liberalization and globalization of the insurance sector, now a days insurers have huge amount of funds collected from the insured in the form of premium. The involvement of the public funds necessitated the regulators to frame regulation to make insurers properly use the freedom provided, but at the same time, through exposure […]

Download Guide on Internal/Concurrent Audit of Investment Functions of Insurance Companies

June 4, 2013 3438 Views 0 comment Print

One of the major functions of an insurer is investment of its funds and with the ever growing fund size of investments, safeguarding and protection of the same has acquired enormous significance. Insurance Regulatory and Development Authority (IRDA), the regulator, has put in place a tight framework for regulating this important function of insurers. The […]

Import of gold on consignment basis by both nominated agencies and banks shall now be permissible only to meet the needs of exporters of gold jewellery

June 4, 2013 1671 Views 0 comment Print

It has further been decided that all Letters of Credit (LC) to be opened by Nominated Banks / Agencies for import of gold under all categories will be only on 100 per cent cash margin basis. Further, all imports of gold will necessarily have to be on Documents against Payment (DP) basis. Accordingly, gold imports on Documents against Acceptance (DA) basis will not be permitted. These restrictions will however not apply to import of gold to meet the needs of exporters of gold jewellery.

Review of policy on foreign direct investment in Multi Brand Retail Trading Sector

June 4, 2013 429 Views 0 comment Print

Review of the policy on foreign direct investment in the Multi Brand Retail Trading Sector- amendment of paragraph 6.2.16.5(2) of ‘Circular 1 of 2013-Consolidated FDI Policy’

Foreign Direct investment Policy – definition of ‘group company’

June 4, 2013 3199 Views 0 comment Print

The Government has decided to incorporate the following definition of ‘group company’ in the FDI Policy contained in ‘Circular 1 of 2013 – Consolidated FDI Policy’, effective from 05-04-2013.

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