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NOTIFICATION NO. LAD-NRO/GN/2011-12/04/13647, DATED 28-4-2011 – The Securities and Exchange Board of India, having considered the application, dated February 11, 2011 for renewal of recognition made under section 3 of the Securities Contracts (Regulation) Act, 1956 by The Gauhati Stock Exchange Limited having its registered office at 2nd Floor, Shine Towers, Sati Jaymati Road, Arya Chowk, Rehabari, Guwahati-781 008 and being satisfied that it would be in the interest of the trade and also in the public interest so to do, hereby grants, in exercise of the powers conferred under section 4 of the Securities Contracts (Regulation) Act, 1956, renewal of recognition to the said Exchange under section 4 of the said Act for a period of one year commencing on the 1st day of May, 2011 and ending on 30th day of April, 2012 in respect of contracts in securities subject to the conditions stated hereinbelow or as prescribed or imposed hereafter :
CIR/MRD/DP/ 05 /2011 – It has been decided to modify the methodology of calculating the Annual Issuers charges. The annual issuer charges would be based on the average no. of folios (ISIN positions) during the previous financial year instead of the total number of folios (ISIN positions) as on 31st March of the previous financial year.
NOTIFICATION NO. LAD-NRO/GN/2011-12/02/12648, DATED 19-4-2011 – Section 4 of the Securities Contracts (Regulation) Act, 1956 – Recognized Stock Exchanges – Grant of recognition to stock exchanges – Renewal of recognition to Ludhiana Stock Exchange Ltd.
NOTIFICATION NO. LAD/NRO/GN/2011-12/03/12650, DATED 13-4-2011 SEBI (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2011 – Amendment in SEBI (Stock Brokers and Sub-brokers)/(Merchant Bankers)/(Registrars to an Issue and Share Transfer Agents)/(Underwriters)/(Debenture Trustees)/(Bankers to an Issue)/(Depositories and Participants) and (Credit Rating Agencies) Regulations
The equity shares of M/s. Surana Telecom and Power Limited (Target Company) are inter alia listed on BSE and NSE. 1.2 An application was made by the Promoter Group on 5-5-2008, for seeking exemption from the application of Regulation 11(1) of Takeover Code for increase in Promoter Group holding from 54.66% to 59.39% which is incidental to the buyback offer of M/s Surana Telecom and Power Limited (“Target Company”).
CIR/MRD/DP/4/2011, Dated:April 07, 2011SEBI has earlier issued directions to stock exchanges with regard to the limitation period for filing an arbitration reference. In view of streamlining the provisions in the depositories on the captioned subject, it is decided that the limitation period for filing an arbitration reference shall be governed by the law of limitation, i.e., The Limitation Act, 1963. The modified limitation period shall also be applicable to cover inter alia the following cases:
NOTIFICATION NO. LAD-NRO/GN/2011-12/01/11486, DATED 6-4-2011 1. These Regulations may be called the Securities and Exchange Board of India (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2011. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Stock Brokers and Sub-brokers) Regulations, 1992:— (i) in regulation 2, in clause (fa), after the words “derivatives segment of a stock exchange” the words “or currency derivatives segment of a stock exchange” shall be inserted;
Increase in overall limits- 1. The existing limit of USD 5 billion for investment by foreign Institutional investors (FIIs) in corporate bonds issued by companies in the infrastructure sector with a residual maturity of over five years has been increased by an additional limit of USD 20 billion taking the total limit to USD 25 billion. These investments are now permissible in unlisted instruments. Investments in unlisted bonds- FIIs shall now be eligible to invest in unlisted bonds issued by companies in the infrastructure sector that are generally organised in the form of special purpose vehicles.
Addendum to Circular no. Cir/ISD/1/2011 dated March 23, 2011 – Employees should be directed that any market related news received by them either in their official mail/personal mail/blog or in any other manner, should be forwarded only after the same has been seen and approved by the concerned Intermediary’s Compliance Officer. If an employee fails to do so, he/she shall be deemed to have violated the various provisions contained in SEBI Act/Rules/Regulations etc. and shall be liable for action. The Compliance Officer shall also be held liable for breach of duty in this regard.
Further, in various instances, it has been observed that the Intermediaries do not have proper internal controls and do not ensure that proper checks and balances are in place to govern the conduct of their employees. Due to lack of proper internal controls and poor training, employees of such intermediaries are sometimes not aware of the damage which can be caused by circulation of unauthenticated news or rumours. It is a well established fact that market rumours can do considerable damage to the normal functioning and behaviour of the market and distort the price discovery mechanisms.
