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CIR/MRD/DP/ 09 /2011 At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.
CIR/MRD/DP/ 8 /2011 June 30, 2011 Exchanges are advised to a) make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision. b) bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange and also to disseminate the same on the website. c) communicate to SEBI, the status of the implementation of this circular in the Monthly Development Report.
CIRCULAR NO. MIRSD/9/2011, Henceforth, the Depositories shall submit a periodical report to SEBI regarding the following changes, as per the format and in accordance with the guidelines given at Annexure A: a. Amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force;b. Change in Director, including managing director/whole-time director;c. Change in shareholding not resulting in change in control; d. Any other purpose as may be considered appropriate by the Depositories.
CIRCULAR NO. MIRSD/11/2011, The requirement of taking prior approval by the Bankers to an Issue from SEBI for change in status or constitution has been dispensed with. However, the Bankers to an Issue would be required to take prior approval from SEBI for change in control. Pursuant to the aforesaid notification, commencing from the quarter ended June 30, 2011, all Bankers to an Issue shall report the following change(s) to SEBI in the quarterly reports submitted in accordance with the SEBI Circular No. MIRSD/DPS-2/BTI/Circular No. 15/2008, dated May 6, 2008.
CIRCULAR NO. MIRSD/10/2011, With the said amendment, the requirement of taking prior approval by the Debenture Trustees from SEBI for change in status or constitution has been dispensed with. However, the Debenture Trustees are required to take prior approval from SEBI for change in control. Pursuant to the aforesaid notification, commencing from the quarter ended June 30, 2011, all Debenture Trustees shall report the following change(s) to SEBI in the quarterly reports submitted in accordance with SEBI Circular No. MIRSD/DPS-2/DT/Cir. -14/2008, dated May 6, 2008.
CIRCULAR NO. MIRSD/8/2011 Pursuant to the aforesaid notification, commencing from half year ended September 30, 2011, all CRAs shall report the following change(s) to SEBI while submitting the Action Taken Report in accordance with SEBI Circular No. SEBI/MIRSD/CRA/Cir-1/2010, dated January 6, 2010. a. Amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force; b. Change in Director, including managing director/whole-time director; c. Change in shareholding not resulting in change in control.
,In order to further promote dematerialization of securities, encourage orderly development of the securities market and to improve transparency in the dealings of shares by promoters including pledge / usage as collateral, SEBI in consultation with Stock Exchanges, has decided that the securities of companies shall be traded in the normal segment of the exchange if and only if, the company has achieved 100% of promoter’s and promoter group’s shareholding in dematerialized form latest by the quarter ended September 2011 as reported to the stock exchanges.
Pursuant to the aforesaid notification, all RTI/STAs shall report the following change(s) to SEBI in the quarterly reports submitted in accordance with the SEBI Circular No. MIRSD/DPS-2/RTA/Cir-1712008 dated May 06, 2008, commencing from the quarter ended June 30, 2011. a. Amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force b. Change in Director, including managing director/ whole-time director c. In case of a partnership firm any change in partners not amounting to dissolution of the firm d. Change in shareholding not resulting in change in control If there is no change during the relevant quarter, it shall be indicated in the report.
Circular No. CIR/MIRSD/7/2011, With the said amendment, the requirement of taking prior approval by the merchant bankers. from SEBI for change in status or constitution has been dispensed with. However, the merchant bankers are required to take prior approval from SEBI for change in control. Further, the merchant bankers shall continue to report the following change(s) to SEBI through the half-yearly reports submitted in accordance with SEBI Circular No. MIRSD/DPS-2/MB/Cir-16/2008 dated May 06, 2008;
Circular No. CIR/MIRSD/6/2011, 1. SEBI (Underwriters) Regulations, 1993 {hereinafter referred to as “the said Regulations”}, have been amended vide Notification No. LAD-NRO/GN/2011-12/03/12650 dated April 19, 2011 {hereinafter referred to as “the said amendment”), a copy of which is available on SEBI website www.sebi.qov.in 2. With the said amendment, the requirement of taking prior approval by the underwriters from SEBI for change in status or constitution has been dispensed with. However, the underwriters are required to take prior approval from SEBI for change in control.3. Pursuant to the aforesaid notification, all underwriters shall report the following change(s) to SEBI on a half-yearly basis within 15 days of expiry of the half-year, commencing from the half-year ended September 30, 2011.
