Relaxing provisions for change in names by companies, regulator SEBI today said any listed firm seeking to undertake such an exercise can do so provided that the amount invested in new projects associated with change of profile is at least 50 per cent of their assets. As per the earlier rule, at least 50 per cent of the total revenue of such firms was required to have been from activities associated with the any company”s new name for a period of one year preceding the change.
SEBI vide circular no MRD/DoP/SE/Cir-38/2004 dated October 28, 2004 had issued comprehensive guidelines for regulation of Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) required to be maintained by Stock Exchanges. Further vide circular No. MRD/DoP/SE/Cir-21/2006 dated December 14, 2006, SEBI issued a clarification to Clause 24 of the Annexure to Circular dated October 28, 2004, specifying that in case of defaulting brokers with multiple memberships, the residual amount after satisfying claims of SEBI, the concerned stock exchange, and all other exchanges, would be credited to the IPF/CPF of the concerned exchange.
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated February 18, 2011 with the Government of the Federal Democratic Republic of Ethiopia making available to the latter, a Line of Credit (LOC) of USD 91 million (USD ninety one million) for financing eligible goods and services including consultancy services, machinery and equipment from India for the purpose of financing development of sugar industry in Ethiopia.
CIR/MIRSD/4/2011 It has been felt that there need to be common rating symbols and definitions (i) for easy understanding of the rating symbols and their meanings by the investors, and (ii) to achieve high standards of integrity and fairness in ratings.
CIR/IMD/FII&C/7/2011 – 15.06.2011 If an ODI (e.g. on MSCI India Index) is hedged with multiple types of Indian securities and left partly unhedged, it may be split in separate rows with each row for each Indian security and a blank column for the unhedged portion. The outstanding value of ODIs shall be summation of all such rows. b. The current methodology of reporting F&O positions will be continued. The outstanding value of ODIs shall continue to be represented in notional terms. c. The ODI issuers shall link hedges to the extent that such a link can be made. d. The FIIs shall work out the linkages for all outstanding ODI positions as on September 30, 2011. This report shall be uploaded to SEBI by the entities in March 2012 along with the upload of the first six months’ lag transaction reports.
RPCD. GSSD. CO. No.14360 / 09.01.01 CM / 2010 – 11 We advise that the State – wise targets indicated may be allocated among the banks working under the jurisdiction of the SLBC Convenor bank of the State, under advice to us. The SLBCs should finalise the targets of individual banks on the basis of acceptable parameters like resources, number of rural / semi urban branches, etc., so that each of the banks will be in a position to arrive at its corporate target. We will be monitoring the achievement of the credit targets by the scheduled commercial banks through receipt of returns.
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated March 28, 2011 with the Government of the United Republic of Tanzania making available to the latter, a Line of Credit (LoC) of USD 36.56 million (USD thirty six million and five hundred sixty thousand) for financing eligible goods and services including consultancy services from India for the purpose of financing the purchase of 723 vehicles under the India Africa Fund into Tanzania.
Please refer to Office Order No.107/2011 dated 03.06.2011 vide which officers in the grade of Addl./Joint Commissioner of Customs & Central Excise were transferred in AGT-201 1. In terms of the said order, all the officers so transferred were to be relieved by their respective controlling officers by 08.06.2011 from their present charge to enable them to join their new place of postings. The Chief Commissioners/Directors General were also requested to send a compliance report by 10.06.2011.
While receiving funds from the clients through pre-funded instruments, such as, Pay Order, Demand Draft, Banker’s cheque, etc., it is observed that the stock brokers are unable to maintain an audit trail of the funds so received, as the details of the name of the client and bank account-number are not mentioned on such instruments. This may result in flow of third party funds / unidentified money, which is not in accordance with the provisions of the aforesaid circular and also affects the integrity of the securities market.
A.P. (DIR Series) Circular No. 70 Attention of the AD Category-I banks is invited to paragraph 8 of Schedule 3 to the Notification No. FEMA 5 /2000-RB dated 3rd May 2000, viz. Foreign Exchange Management (Deposit) Regulations, 2000, as amended from time to time, in terms of which when a person resident in India leaves India for a country (other than Nepal or Bhutan) for taking up employment, or for carrying on business or vocation outside India or for any other purpose indicating her / his stay outside India for an uncertain period, her / his existing account should be designated as a Non-Resident (Ordinary) [NRO] Account.
