SEBI SOP for suspension & revocation of trading of specified securities

SEBI/HO/CFD/CMD/CIR/P/2020/12 (22/01/2020)

The recognized stock exchanges shall disclose on their website the action(s) taken against the listed entities for non-compliance(s); including the details of the respective requirement, amount of fine levied, details regarding the freezing of shares of promoters, the period of suspension etc....

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SEBI Streamlines Procedures on the Rights Issue process

Circulars No. SEBI/HO/CFD/DIL2/CIR/P/2020/13 (22/01/2020)

a. The issuer shall dispatch a common application form to its shareholders as on the record date. Along with application form, the issuer shall also send the details of the rights entitlements of the shareholder separately....

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Certain provisions of penalty under SEBI Act w.e.f. 20th Jan 2020

Notification No. S.O. 275(E) (20/01/2020)

Central Government hereby appoints the 20th day of January, 2020, as the date on which the provisions of Part III and sections 183, 184 and 185 of Part IX of Chapter VI of Finance (No. 2) Act, 2019 shall come into force...

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Clarification relating to import of gifts-reg.

Circular No. 4/2020 – Customs (21/01/2020)

Clarifications have been sought by the field formations as regards the application of the said notification of DGFT and how the same has to be read with Notification 50/2017-Customs dated 30th June 2017, especially in relation to the exemption available for imports of bonafide gifts up to a c.i.f. value of Rs. 5000.00....

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Implementation of Ind AS in Insurance Sector

Ref: IRDAI/F&A/CIR/ACTS/023/01/2020 (21/01/2020)

While the insurance sector was preparing to implement the Ind AS, it was noted that the International Accounting Standards Board (IASB) has taken a considered view to amend IFRS 17: Insurance Contracts, due to the concerns raised around accounting treatments, operational complexity and implementation challenges raised by various stakehold...

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IBUs allowed to participate in exchange traded currency derivatives on Rupee

RBI/2019-20/147 DOR.IBD.BC.No.28/23.13.004/2019-20 (21/01/2020)

The Task Force (TF) on Offshore Rupee Markets chaired by Smt. Usha Thorat had recommended introduction of non-deliverable Rupee Derivatives in IFSCs in a phased manner, starting with exchange traded currency derivatives (ETCD) to be followed by Over the Counter (OTC) derivatives at a later stage....

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NBFCs can pool gold jewellery from different branches for Auction

RBI/2019-20/148 DOR.NBFC (PD).CC.No.108/03.10.001/2019-20 (21/01/2020)

On a review, it has been decided that NBFCs can pool gold jewellery from different branches in a district and auction it at any location within the district, subject to meeting the following conditions:...

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Deposit of unclaimed dividends and / or undistributed proceeds of voluntary liquidation process

No. IBBI/VL/028/2020 (20/01/2020)

Deposit of unclaimed dividends and / or undistributed proceeds of voluntary liquidation process in accordance with regulation 39 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017....

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Introduction of Rupee derivatives at IFSC

RBI/2019-20/145 A.P. (DIR Series) Circular No.17 (20/01/2020)

RBI allows Rupee derivatives (with settlement in foreign currency) to be traded in International Financial Services Centres (IFSCs), starting with Exchange Traded Currency Derivatives (ETCD)....

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Himachal Pradesh Govt approves HP Legacy Cases Resolution Scheme

Press Release No. 75/2020-PUB (17/01/2020)

The Government of Himachal Pradesh has approved the Himachal Pradesh (Legacy Cases Resolution) Scheme under the Department of Excise and Taxation in the Cabinet Meeting held on 16.01.2020. The Scheme will address settlement of legacy cases under General Sales Tax, VAT, CST and other taxation laws subsumed under GST. 2. The scheme will be ...

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