A.P. (DIR Series) Circular No.17 In order to facilitate Rupee denominated borrowing from overseas, it has been decided to put in place a framework for issuance of Rupee denominated bonds overseas within the overarching ECB policy. The broad contours of the framework are as follows:
Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), specifies that the listed entity shall submit quarterly compliance report on corporate governance in the format specified by the Board from time to time to recognised Stock Exchange(s) within fifteen days from close of the quarter.
The CBEC vide Circular No. 1006/13/2015-CX dated September 21, 2015 has clarified that Board Circulars contrary to the judgements of Hon’ble Supreme Court become non-est in law and should not be followed.
This has reference to Paragraph 1(i) of the SEBI Circular numbered CIR/ISD/01/2015 dated May 11, 2015 whereby the formats for disclosure under Regulation 7 of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“the Regulations”) were provided for.
General Circular No. 13/2015 A High level Committee was constituted to suggest measures for improved monitoring of the implementation of Corporate Social Responsibility policies by the companies under Section 135 of the Companies Act, 2013, vide OM of even no. dated 03.02.2015. The Committee has been granted extension of another one month with the approval of Hon’ble Union Minister for Corporate Affairs to submit its report by 22.09.2015.
Based on the feedback from market participants on disclosures in offer document by NBFCs, after due deliberations, it has been decided to align the disclosures made in the offer documents to be in line with the stipulations as required by the Reserve Bank of India (RBI).
This Department has received certain references on the issue as to whether entering into facility sharing agreement through leasing/sub-leasing arrangements within group companies for the larger purposes of business activities would be constructed to mean ‘real estate’ business within the provisions of Consolidated FDI Policy Circular of 2015.
The online Form Delhi Sugam-2 (DS2), shall be filed for each vehicle before its entry in Delhi by each registered dealer, whose goods are carried in that vehicle.
It has been noticed in the recent past that some dealers enter into contract or agreement with fellow unscrupulous dealers, with a motive to evade tax or to claim undue refund or to pass on input tax credit without payment of due tax. In some cases, such dealers are found to be indulging in downloading of Central Forms against fictitious inter-state purchases of huge amount.
The Stock Exchanges and Depositories are directed to bring the contents of this circular to the notice of the Stock Brokers and Depository Participants respectively and also disseminate the same on their websites.
