Circular on Schemes of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957

  CIRCULAR CFD/DIL3/CIR/2017/21 March 10, 2017 All Listed Entities who have listed their equity and convertibles All the Recognized Stock Exchanges Dear Sir/Madam, Sub: Schemes of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957 1. SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “listing regulations”) place obligations with respect to Scheme of Arrangement on Listed Entities and Stock Exchange(s) in Regulation 11, 37 and 94. 2. Regulation 11 of the listing regulations, inter-alia, provides that any scheme of arrangement / amalgamation / merger / reconstruction / reduction of capital etc. to be presented to any Court or Tribunal does not in any way violate, override or limit the provisions of securities laws or requirements

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Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System (SCORES)’

  CIRCULAR SEBI/HO/MIRSD/MIRSD6/CIR/P/2017/20 March 10, 2017 To All recognised Stock Exchanges All Depositories All Stock Brokers, Sub Brokers and Depository Participants registered with SEBI(Through the Stock Exchanges for Stock Brokers and Sub Brokers, the Depositories for Depository Participants) Madam/Sir, Sub: Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System (SCORES) 1. SEBI has commenced processing of complaints through SCORES since June, 2011 2. With a view to make the complaint redressal mechanism through SCORES more efficient, all stock brokers and depository participants are directed to address/redress the complaint within a period of 15 days from the receipt of the complaint. In case additional information is required from the complainant, the same shall be sought within 7 days from the receipt of the complaint. In such

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Master Circular on Show Cause Notice, Adjudication and Recovery

  Kind attention is invited to Ninety two Circulars and Instructions on Show Cause Notices and Adjudication issued by the Board from time to time, placed at the Annexures to this Master Circular. These circulars address references from trade and field formations and provide clarity and uniformity on the issues raised. Board undertakes exercise of consolidating these circulars from time to time so as to ensure clarity and ease of reference. This master circular on the subject of show cause notices, adjudication proceedings and recovery is an effort to compile relevant legal and statutory provisions, circulars of the past and to rescind circulars which have lost relevance. Annexure-I to the circular provides list of the eighty nine circulars which stand rescinded. Three circulars listed in Annexure-II have not been rescinded

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Delhi VAT: De-sealing of Business Premises during Survey

  DEPARTMENT OF TRADE & TAXES, GOVT. OF NCT OF DELHI (POLICY BRANCH) VYAPAR BHAWAN, LP..ESTATE, NEW DELHI. NoF.30/Policy/VAT/2016/1249-54 (645) Dated: 08/03/2017 CIRCULAR NO. 27 OF 2016-17 Subject:- De-sealing of Business Premises In line with the directions of Honrble High Court Delhi, in the matter of Sh. Narender Singh Vs. Deptt. of T&T (in WP(C)1627/2017), the following procedure is required to be adopted for de-sealing of the business premises, which are sealed in the event of Enforcement Survey etc. by the officers of the Department of Trade & Taxes:- (i) If the Dealer concerned whose business premise has been sealed does not turn up for de-sealing of the same within a reasonable time, then he should be intimated through a notice, at his last known address, regarding De-sealing process to be undertaken.

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Formation of 7 new districts in Manipur: Assignment of Lead Bank

  RBI/2016-17/248 FIDD.CO.LBS.BC.No.23/02.08.001/2016-17 March 9, 2017 The Chairmen & Managing Directors All Lead Banks Dear Sir/Madam, Formation of seven new districts in the State of Manipur – Assignment of Lead Bank Responsibility The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur. It has been decided to assign the lead bank responsibility of the seven new districts as detailed below:- Sr No Newly carved district Erstwhile District Sub-division under the newly created district Lead Bank Responsibility assigned to District Working Code allotted to new district 1 Imphal East Imphal East Porompat, Keirao Bitra & Sawombung United Bank of India 151 2 Jiribam Imphal East Jiribam & Borobekra United Bank of India 387 3 Senapati Senapati Tadubi,

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Now RBI website at your fingertips

  Date : Mar 10, 2017- Now RBI website at your fingertips The Reserve Bank of India today formally launched a mobile application (app) version of the Reserve Bank of India’s website (www.rbi.org.in). The app is available on Android as well as iOS platforms and can be downloaded from the Play Store/App Store in one’s Android phone/iPhone, respectively, using the keyword “Reserve Bank of India”. To start with, the most accessed sections of the website : press releases, IFSC/ MICR codes, Bank Holidays and Current Rates including Policy rates and reference rate of four major currencies – have been made available on the app. There is a dynamic window on the top of the landing page of the app which alternatingly displays three public awareness messages – the new design currency notes

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Online Verification of Cash Transactions 2016 on AIMS Module in ITBA

  EFS Instruction No. 62 Tel: 0120-2770029, Fax: 0120-2770452 Email:adg2.systems@incometaxindia.gov.in DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 F. No. DGIT(S)-ADG(S)-2/Online verification of Cash Transactions/157/2016 Dated 09.03.2017 To The Pr. Chief Commissioner of Income Tax (CCA), Ahmedabad/Bangalore/Bhopal/Bhubaneswar/Chandigarh/Chennai/Delhi/Guwahati/Hyderabad /Jaipur/Kochi/Kolkata/Kanpur/Lucknow/Nagpur/Mumbai/Patna/Pune The Commissioner of Income tax (Computer Operations & Admn) Sub: Online Verification of Cash Transactions – 2016 on AIMS Module in Income Tax Business Application (ITBA) -Reg. Sir / Madam, Kindly refer to the EFS Instruction No. 61 on the above mentioned subject. 2. The response(s) filed by the tax payer(s) on Cash Transaction 2016 module on e–filing portal is shared with the officer/Assessing officer(s) through AIMS This directorate has issued the EFS Instruction No. 61 dated 21.02.2017 related to its functionalities. 3. In addition to the

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Section 269SS and 269T applicable to NBFC: RBI

  RBI/2016-17/245 DNBR (PD) CC.No.086/03.10.001/2016-17 March 09, 2017 All NBFCs Madam/ Sir, Disbursal of loan amount in cash Reference is invited to instructions contained in para 37(iii)(b) of Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 which states that high value loans against gold of ₹1 lakh and above must only be disbursed by cheque. 2. On review, and in line with the rules issued under Section 269SS and 269T of the Income Tax Act, 1961, the requirements under the Income Tax Act, 1961, as amended from time to time, would be applicable to all NBFCs with immediate effect. Currently, the relevant threshold under the Income Tax

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IRDA Guidelines on Insurance e-commerce

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDA/ INT/ GDL/ ECM/055/03/2017 9th March, 2017 Guidelines on Insurance e-commerce 1. Short title and commencement: (1) These guidelines are issued under Section 34 of the Insurance Act, 1938 and Section 14 of the IRDA Act, 1999 and are known as Guidelines on insurance e-commerce. (2) They shall come into force on the date of their issuance. 2. Objective: e-commerce is seen as an effective medium to increase insurance penetration and enhance financial inclusion in a cost-efficient manner. The Authority as part of its developmental mandate, issues these guidelines to promote e-commerce in insurance space which is expected to lower the cost of transacting insurance business and bring higher efficiencies and greater reach. 3. Definitions – In these guidelines, unless the context otherwise requires: (a)”Act” means the

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PM address to media ahead of 2nd round of Budget Session

  English rendering of the Prime Minister Shri Narendra Modi’s address to media ahead of the Second round of the Budget Session of Parliament Welcome friends, All of us are back together once again after the recess during the Budget Session of the Parliament. There will be detailed discussion on the Budget and I am sure the level of debate and discussion will be of good quality. It will be focused on the issues pertaining to the welfare of the poor. We are hopeful of a breakthrough in the GST. One of the reasons for our optimism is that all the states have cooperated in a positive manner. All the political parties have also been extremely positive and cooperative in their response. We have been able to move forward in

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