The Government of India has enacted the Right to Information Act, 2005 (http://www.persmin.nic.in) which has come into effect from October 13, 2005. The Right to Information under this Act is meant to give to the citizens of India access to information under control of public authorities to promote transparency and accountability in these organisations. The Act, under sections 8 and 9, provides for certain categories of information to be exempt from disclosure. The Act also provides for appointment of a Chief Public Information Officer to deal with requests for information.
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.
Clarification on Circular No. 33/2011 dated 01.06.2011 with regard to compliance of provisions of the Companies Act, 1956 and Rules made there under.
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.
