A Power of Attorney is executed by the client in favour of the stock broker /stock broker and depository participant to authorize the broker to operate the client’s demat account and bank account to facilitate the delivery of shares and pay – in/ pay – out of funds.
Presently, it takes on an average around 22 days to list the securities after an issue closes. This exposes investors as well as issuers to market risk as well as leading to infrastructural stress and costs. One of the reasons identified for this delay is data entry at multiple level and reconciliation thereof. Needless to say, any reduction in the period taken to list an issue after closure is in general interest of investors.
SEBI has since discontinued the EDIFAR system w.e.f from April 1, 2010. In view of this, Stock Exchanges are advised to carry out the consequential amendments in Equity Listing Agreement i.e. removal of words, “and also through the EDIFAR website” from Clause 32 and omission of Clause 51 from Equity Listing Agreement.
Whether the Company has been listed on the stock exchanges? If yes, the names of the stock exchanges may please be indicated? If so, whether the provisions of listing agreement of SEBI are being followed by the Company? (2) Whether the Company has 50% independent directors on their Board as required under SEBI guidelines?
The Securities and Exchange Board of India (SEBI) on Thursday sought detailed information from foreign institutional investors (FIIs) on their holding structures and account holders, a move apparently aimed at curbing round-tripping or routing of Indian money back into the country through overseas entities in order to avoid paying taxes. Sebi had banned two prominent FIIs for refusing to share information on some client dealings with the Sebi last year.
It has been represented before us by various organizations of the refund claiming dealers that there are huge amounts of refunds generated every year and the same dealers who claim refunds in one year have to pay dues the very next year. Sometimes it is difficult for the dealers to pay dues into the government treasury when they themselves are eligible for refund. So, they have requested to either grant the refund at the earliest or allow the dealers to carry forward the refund to the next financial year.
Attention is invited to Para 3.16 of the FTP and Public Notice No. 54/2009-14 dated 8.4.2010 which announced the procedure and application form ANF3E for filing the claim under SHIS scheme. Foroperationalising the scheme, the following has been decided.
A copy of this circular is available at the web page “F.I.I.” on our website sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients.
On a review of the issue it has been decided that the exemption granted to RRBs up to the financial year 2008-09 from ‘mark to market’ norms in respect of their investments in SLR securities be extended by one more year i.e. for the financial year 2009-10. Accordingly, RRBs will have the freedom to classify their entire investment portfolio of SLR securities under ‘Held to Maturity’ for the financial year 2009-10 with valuation on book value basis and amortisation of premium, if any, over the remaining life of securities.
It has been brought to the notice of the Board by certain field formations that they are facing difficulties in issuance of Custom House Agents (CHA) License for eligible persons and in implementation of the Custom House Agents Licensing Regulations (CHALR), 2004.
