In this edition we have tried to bring you notice the latest amendment that followed in the month of December, 2023 issued by MCA, RBI, SEBI, IBBI and others.
- MINISTRY OF CORPORATE AFFAIRS
- SECURITIES LAWS AND CAPITAL MARKET
Guidelines for AIFs with Respect to Holding their Investments in Dematerialized Form and Appointment of Custodian.
Investment made by an AIF shall be held in dematerialized form only, irrespective of whether the investment is made directly in the investee company or is acquired from another entity.
However, the aforesaid requirement of holding investments in dematerialized
Form shall not be applicable to scheme of an AIF whose tenure ends on or before January 31, 2025 and scheme of an AIF which is in extended tenure as on date of this circular.
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Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism
In order to enhance efficiency, ease of compliance and reduce cost, SEBI has prescribed the framework where promoters can also offer the shares to employees in OFS through the Stock Exchange Mechanism
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- MISCELLANEOUS
Department of Revenue, Ministry of Finance, invites suggestions on draft ‘Indian Stamp Bill, 2023’ from public within a period of 30 days
to align it with modern stamp duty regime, The Department of Revenue, Ministry of Finance, Government of India, has prepared a draft ‘Indian Stamp Bill, 2023’ and it shall replace the Indian Stamp Act, 1899.
A link for the copy of said bill is as under:
https://www.dor.gov.in/sites/default/files/stamp%20duty%202023.pdf
To Read More:
https://pib.gov.in/PressReleasePage.aspx?PRID=1997072
Notice Inviting Comments on the review of Rules prescribed under the Companies Act, 2013 and Limited Liability Partnership Act, 2008
It has been decided to invite comments/suggestions on the Rules issued under such legislations from all the stakeholders through e-Consultation Platform on the MCA website.
To Read More:
https://www.mca.gov.in/bin/dms/getdocument?mds=6hps1VR8FPMqNId82rZxVw%253D%253D&type=open
FAQs on Registration of a Fund Management Entity (FME) and Authorization of a Scheme or Fund under IFSCA (Fund Management) Regulations, 2022
IFSCA has uploaded Frequently Asked Questions (FAQs) on Registration of a Fund Management Entity (FME) and Authorization of a Scheme or Fund under IFSCA (Fund Management) Regulations, 2022 updated on its website.
To Read More:
- RESERVE BANK OF INDIA – BANKING
Norms for inclusion- Second Schedule to the Reserve Bank of India Act, 1934
It has been decided to revise the eligibility norms for inclusion of UCBs (Urban Co-operative Banks) in the Second Schedule to the Reserve Bank of India Act, 1934 to bring them in conformity with the Revised Regulatory Framework.
To Read More:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12601&Mode=0
https://www.rnm.in/blog/exploring-the-pinnacle-top-ca-firms-in-india-2024