Corporate Laws Daily
Dear Reader,
Welcome to Taxmann.com | Newsletter – Reporting the Facts with Taxmann's Analysis. Today's Edition Brings You Updates on Company & SEBI Laws | FEMA Banking & NBFCs | Insolvency & Bankruptcy Code (IBC) | Competition Laws.
RBI allows authorised persons to facilitate remittances for all permissible purposes under LRS to IFSCs
Under the extant norms, remittances under LRS to IFSCs can be made only for:
(a) Making investments in IFSCs in securities except those issued by entities/ companies resident in India (outside IFSC); and
(b) Payment of fees for education to foreign universities or foreign institutions in IFSCs for pursuing specific courses.
Further, resident individuals were allowed to open Foreign Currency Accounts (FCA) in IFSCs for the aforementioned purposes.
Now, RBI has decided that Authorised Persons may facilitate remittances for all permissible purposes under LRS to IFSCs for availing financial services or financial products as per the International Financial Services Centres Authority Act, 2019 within IFSCs and for all current or capital account transactions, in any other foreign jurisdiction (other than IFSCs) through an FCA held in IFSCs.
For these permissible purposes, resident individuals can open Foreign Currency Account (FCA) in IFSCs.
RBI permits banks to use ratings of ‘Brickwork Ratings India Private Limited’ for bank loans up to Rs 250 crore
The RBI has permitted banks to use the ratings of the ‘Brickwork Ratings India Private Limited (the CRA) to risk weight their claims for capital adequacy purposes subject to certain conditions. One condition is that, for fresh rating mandates, ratings may be obtained from the CRA for bank loans up to Rs 250 crore. Further, regarding existing ratings, CRA may undertake rating surveillance irrespective of the rated amount, till the residual tenure of such loans.
Listed entities to publish a window advertisement in newspapers referring QR code & website link for Financial Results: SEBI
SEBI has notified the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2024. A new proviso has been inserted to Reg 52(8) relating to publication of financial results. It states that listed entities may publish only a window advertisement in the newspapers that refers to a Quick Response Code and the link to listed entity's website and stock exchanges, where such results are available and capable of being accessed by investors subject to certain conditions.
SEBI amends NCS norms; requires issuer to fix a record date 15 days before due date for payment of interest/dividend
SEBI has notified SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024. As per the amended norms, the issuer must fix a record date for payment of interest, dividend, redemption or repayment amount, or for such other purpose as specified by Board. The record date must be fixed 15 days before due date of payment. Also, SEBI has updated the due diligence certificate format that the debenture trustee must submit when filing the draft offer document.
That's it from us for today!
We're keen on enhancing Your Taxmann.com | Newsletter Experience and would greatly value your input. Your feedback is pivotal in guiding our improvements. Could you spare a few moments to share your thoughts in the comments on how we might better serve your needs?
Taxmann.com | Research | Companies Act | SEBI | LLP – Enhance Your Research with Innovative Features, Advance Tools and Comprehensive Database
?????????? ??????????????.?????? | ????????????????:
The Companies Act | SEBI | LLP features an AI-based search engine designed to recreate and simplify the way you conduct your research. A combination of features that are impeccably specified and tied by a common thread:
? Over 12,000+ Case Laws with Legal Digests featuring Headnotes, Facts, and Held Decisions
? Advanced Search with 15+ Parameters to Filter Results
? 'Viability' Tool to Check the Reliability of Case Laws
? Nearly 100% Reporting of Case Laws for Comprehensive Coverage
? 15+ Acts, 190+ Rules, and 200+ Norms with Annotations
? 370+ Informal Guidance, 9,200+ Circulars & Notifications Updated in Real-Time
? Amended, Updated, and Annotated Historical Database Providing History of All Amendments
? All-About? Companies Act, 2013 Tool Integrating All Related Records to a Particular Section
? Consolidated and Simplified Access to Securities Law Documents
? 10+ Commentaries & 4,900+ Articles Authored by Industry Experts on Complex, Controversial, and Current Topics
? 1,500+ Practical Company Law Queries Answered by V.S. Datey et al.
? Real-Time News and Updates from 1,000+ Authentic Sources
Subscribe Now and Transform the Way You Work! https://taxmann.social/WimoO
--
8 个月Insightful!