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Circulars

Urban Co-Operative banks not to levy pre-payment penalty on Floating Rate Term Loans to individual borrowers

May 26, 2014 952 Views 0 comment Print

Accordingly, it is advised that urban cooperative banks will not be permitted to charge foreclosure charges/ pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect

Extension of validity period for names reserved as on 31st March, 2014

May 23, 2014 1526 Views 0 comment Print

In continuation of the General Circular No.11/2014 dated 12.05.2014, approval of the Competent Authority is hereby conveyed to extend continuity of all reserved names as on 31st March, 2014 for another fifteen days period from the date of issue of this circular.

Increase in limit of cash investment in MFs from Rs. 20,000/- to Rs. 50,000/-

May 22, 2014 1983 Views 0 comment Print

This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

PAN requirement for Foreign Nationals for filing Incorporation form (INC-7)

May 22, 2014 13074 Views 0 comment Print

Attention of Ministry has been drawn to difficulties being faced by Foreign Nationals while filing Incorporation form (INC-7) due to mandatory requirement of submission of PAN details of intending Directors at the time of filing the application for incorporation.

Companies exclusively listed on De-recognized/Non-operational Stock Exchanges

May 22, 2014 6042 Views 0 comment Print

The provisions of this Circular are applicable for all those stock exchanges which have not achieved the prescribed turnover of Rs. 1000 Crore on continuous basis on or before May 30, 2014.

RBI allows advance up to a maximum tenor of 10 years for execution of long term supply contracts for export of goods

May 21, 2014 2995 Views 0 comment Print

In view of requests received from exporters, it has been decided to permit AD Category- I banks to allow exporters having a minimum of three years’ satisfactory track record to receive long term export advance up to a maximum tenor of 10 years to be utilized for execution of long term supply contracts for export of goods subject to the conditions as under:

RBI issues Guidelines for import of gold under 20:80 scheme

May 21, 2014 1922 Views 0 comment Print

Star Trading Houses / Premier Trading Houses (STH/PTH) which are registered as nominated agencies by the Director General of Foreign Trade (DGFT) may now import gold under 20:80 scheme subject to the following conditions:

Overseas Direct Investments – LLP as Indian Party

May 19, 2014 970 Views 0 comment Print

On a review, it has been decided to notify a Limited Liability Partnership (LLP), registered under the Limited Liability Partnership Act, 2008 (6 of 2009), as an “Indian Party” under clause (k) of Regulation 2 of the Notification ibid. Accordingly, an LLP, may henceforth undertake financial commitment to / on behalf of a JV / WOS abroad in terms of the extant FEMA provisions under Regulation 6 (and regulation 7, if applicable) of the Notification ibid.

MCA provides One time opportunity for extension of Period of Reservation of Name

May 18, 2014 4221 Views 0 comment Print

Services for incorporation of companies were not available on the MCA 21 portal to stakeholders from 1st April, 2014 to 28th April, 2014 because of the deployment requirements for new E-forms. Many stakeholders had reserved names for the purpose of Company incorporation with 60 days prescribed validity expiring during the above mentioned period.

SEBI : Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement

May 16, 2014 736 Views 0 comment Print

Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement.

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