Category Archives: SEBI

SEBI (Buy Back of Securities) Regulations 2018

By | September 17, 2018

SEBI has notified Securities Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The norms prescribes maximum limit of buy-back as 25% or less of the aggregate paid up capital and free reserves of the Company. Under new norms, a company can’t buy-back its securities so as to delist its shares from stock exchange. Norms… Read More »

Section 186 of Finance Act 2018 : Amendment of section 15JB

By | April 1, 2018

Section 186 of Finance Act 2018 [Section 186 of Finance Act 2018 deals with Amendment of section 15JB and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15JB 186. In the principal Act, in section 15JB, after sub-section (4), the following sub- section shall be inserted, namely:— “(5) All settlement amounts, excluding the disgorgement amount and legal… Read More »

Section 185 of Finance Act 2018 : Amendment of section 15J

By | April 1, 2018

Section 185 of Finance Act 2018 [Section 185 of Finance Act 2018 deals with Amendment of section 15J and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15J 185. In the principal Act, in section 15J,— (a) for the marginal heading, the following marginal heading shall be substituted, namely:— “Factors to be taken into account while adjudging… Read More »

Section 184 of Finance Act 2018 : Amendment of section 15-I

By | April 1, 2018

Section 184 of Finance Act 2018 [Section 184 of Finance Act 2018 deals with Amendment of section 15-I and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15-I 184. In the principal Act, in section 15-I, in sub-section (1),— (i) after the figures and letter “15E,”, the figures and letters “15EA, 15EB,” shall be inserted; (ii) for… Read More »

Section 182 of Finance Act 2018 : Insertion of new section 15EA and 15EB

By | April 1, 2018

Section 182 of Finance Act 2018 [Section 182 of Finance Act 2018 deals with Insertion of new section 15EA and 15EB and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 15EA and 15EB 182. In the principal Act, after section 15E, the following sections shall be inserted, namely:— “15EA. Penalty for default in case of alternative investment… Read More »

Section 183 of Finance Act 2018 : Amendment of section 15F

By | April 1, 2018

Section 183 of Finance Act 2018 [Section 183 of Finance Act 2018 deals with Amendment of section 15F and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15F 183. In the principal Act, in section 15F, in clause (b), for the words “he sponsors or carries on any such collective investment scheme including mutual funds”, the words… Read More »

Section 181 of Finance Act 2018 : Amendment of section 15A

By | April 1, 2018

Section 181 of Finance Act 2018 [Section 181 of Finance Act 2018 deals with Amendment of section 15A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15A 181. In the principal Act, in section 15A,— (i) in clause (a), after the words “fails to furnish the same”, the words “or who furnishes or files false, incorrect… Read More »

Section 180 of Finance Act 2018 : Amendment of section 11B

By | April 1, 2018

Section 180 of Finance Act 2018 [Section 180 of Finance Act 2018 deals with Amendment of section 11B and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 11B 180. In section 11B, of the principal Act,— (a) in the marginal heading, after the word ”directions”, the words ”and levy penalty” shall be inserted; (b) section 11B shall… Read More »

Section 162 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 162 of Finance Act 2018 [Section 162 of Finance Act 2018 deals with Commencement of this Part and is covered in CHAPTER VIII MISCELLANEOUS] PART IX AMENDMENTS TO THE NATIONAL HOUSING BANK ACT, 1987 Commencement of this Part 162. The provisions of this Part shall come into force on such date as the Central Government may, by… Read More »

Section 161 of Finance Act 2018 : Amendment of section 3 of Act 43 of 1982

By | April 1, 2018

Section 161 of Finance Act 2018 [Section 161 of Finance Act 2018 deals with Amendment of section 3 of Act 43 of 1982 and is covered in CHAPTER VIII MISCELLANEOUS] PART VIII AMENDMENT TO THE GOVERNORS (EMOLUMENTS, ALLOWANCES AND PRIVILEGES) ACT, 1982 Amendment of section 3 of Act 43 of 1982 161. In section 3 of the Governors… Read More »

Section 164 of Finance Act 2018 : Amendment of section 4

By | April 1, 2018

Section 164 of Finance Act 2018 [Section 164 of Finance Act 2018 deals with Amendment of section 4 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 4 164. In section 4 of the principal Act,— (a) in sub-section (1), for the proviso, the following proviso shall be substituted, namely:— “Provided that the Central Government may, by notification,… Read More »

Section 163 of Finance Act 2018 : Amendment of section 3

By | April 1, 2018

Section 163 of Finance Act 2018 [Section 163 of Finance Act 2018 deals with Amendment of section 3 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 3 163. In the National Housing Bank Act, 1987 (53 of 1987) (hereafter in this Part referred to as the principal Act), in section 3,— (a) in sub-section (3), for… Read More »

Section 158 of Finance Act 2018 : Amendment of section 23M

By | April 1, 2018

Section 158 of Finance Act 2018 [Section 158 of Finance Act 2018 deals with Amendment of section 23M and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23M 158. In section 23M of the principal Act,— (i) after the words “adjudicating officer” at both the places where they occur, the words “or the Securities and Exchange Board… Read More »

Section 159 of Finance Act 2018 : Amendment of section 24

By | April 1, 2018

Section 159 of Finance Act 2018 [Section 159 of Finance Act 2018 deals with Amendment of section 24 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 24 159. In section 24 of the principal Act,— (i) for the marginal heading, the following marginal heading shall be substituted:— “Contravention by companies;”; (ii) in sub-section (1), for the… Read More »

Section 157 of Finance Act 2018 : Insertion of new section 23JC

By | April 1, 2018

1Section 157 of Finance Act 2018 [Section 157 of Finance Act 2018 deals with Insertion of new section 23JC and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 23JC 157. After section 23JB of the principal Act, the following section shall be inserted, namely:— ’23JC. Continuance of proceedings.—(1) Where a person dies, his legal representative shall be… Read More »

Section 156 of Finance Act 2018 : Amendment of section 23JB

By | April 1, 2018

Section 156 of Finance Act 2018 [Section 156 of Finance Act 2018 deals with Amendment of section 23JB and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23JB 156. In section 23JB of the principal Act, in sub-section (1), for the words “by the adjudicating officer”, the words “under this Act” shall be substituted. Finance Act 2018… Read More »

Section 155 of Finance Act 2018 : Amendment of section 23JA

By | April 1, 2018

Section 155 of Finance Act 2018 [Section 155 of Finance Act 2018 deals with Amendment of section 23JA and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23JA 155. In section 23JA of the principal Act, after sub-section (4), the following sub-section shall be inserted, namely:— “(5) All settlement amounts, excluding the disgorgement amount and legal costs,… Read More »

Section 154 of Finance Act 2018 : Amendment of section 23J

By | April 1, 2018

Section 154 of Finance Act 2018 [Section 154 of Finance Act 2018 deals with Amendment of section 23J and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23J 154. In section 23J of the principal Act,— (i) for the marginal heading, the following marginal heading shall be substituted, namely:— “Factors to be taken into account while adjudging… Read More »

Section 153 of Finance Act 2018 : Amendment of section 23-I

By | April 1, 2018

Section 153 of Finance Act 2018 [Section 153 of Finance Act 2018 deals with Amendment of section 23-I and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23-I 153. In section 23-I of the principal Act, in sub-section (1), for the word ”shall”, the word ”may” shall be substituted. Finance Act 2018 : Assented by President :… Read More »

Section 152 of Finance Act 2018 : Insertion of new section 23GA

By | April 1, 2018

Section 152 of Finance Act 2018 [Section 152 of Finance Act 2018 deals with Insertion of new section 23GA and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 23GA 152. After section 23G of the principal Act, the following section shall be inserted, namely:— “23GA. Penalty for failure to conduct business in accordance with rules, etc.—Where a… Read More »

Section 149 of Finance Act 2018 : Amendment of section 23A

By | April 1, 2018

Section 149 of Finance Act 2018 [Section 149 of Finance Act 2018 deals with Amendment of section 23A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23A 149. In section 23A of the principal Act, in sub-clause (a), after the words “bye-laws of the recognised stock exchange”, the words “or who furnishes false, incorrect or incomplete… Read More »

Section 150 of Finance Act 2018 : Amendment of section 23E

By | April 1, 2018

Section 150 of Finance Act 2018 [Section 150 of Finance Act 2018 deals with Amendment of section 23E and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23E 150. In section 23E of the principal Act, after the words “mutual fund”, the words “or real estate investment trust or infrastructure investment trust or alternative investment fund”, shall… Read More »

Section 148 of Finance Act 2018 : Amendment of section 23

By | April 1, 2018

Section 148 of Finance Act 2018 [Section 148 of Finance Act 2018 deals with Amendment of section 23 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23 148. In section 23 of the principal Act, in sub-section (1), in the long line, after the words “Adjudicating officer”, the words “or the Securities and Exchange Board of… Read More »

Section 147 of Finance Act 2018 : Amendment of section 12A

By | April 1, 2018

Section 147 of Finance Act 2018 [Section 147 of Finance Act 2018 deals with Amendment of section 12A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 12A 147. In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Part referred to as the principal Act), section 12A shall be numbered as sub-section (1)… Read More »

Section 146 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 146 of Finance Act 2018 [Section 146 of Finance Act 2018 deals with Commencement of this Part and is covered in CHAPTER VIII MISCELLANEOUS] PART VI AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 Commencement of this Part 146. The provisions of this Part shall come into force on such date as the Central Government may, by… Read More »

Prevention of Unauthorized Trading by Stock Brokers : SEBI Circular

By | March 26, 2018

Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/DOP1/CIR/P/2018/54 March 22, 2018 To, All recognized Stock Exchanges, Dear Sir / Madam, Sub: Circular on Prevention of Unauthorized Trading by Stock Brokers I. This master circular consolidates and updates the requirements/obligations with regard to Prevention of Unauthorized Trading by Stock Brokers prescribed by the following circulars: A. CIR/HO/MIRSD/MIRSD2/CIR/P/201… Read More »

Due-diligence and reporting for Foreign Portfolio Investor : SEBI Circular

By | March 26, 2018

  DUE DILIGENCE AND REPORTING REQUIREMENTS UNDER FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA) AND COMMON REPORTING STANDARDS (CRS) CIRCULAR NO.IMD/FPIC/CIR/P/2018/53, DATED 21-3-2018 1. This is in continuation of SEBI circulars No. CIR/MIRSD/2/2015 dated August 26, 2015 and No. CIR/MIRSD/3/2015 dated September 10, 2015wherein SEBI has informed all intermediaries regarding due diligence and reporting requirements under Rules 114F to 114H of… Read More »

Interest & Dividend reporting of Custodial Accounts- Rule 114G(1)(e) of Income Tax Rules, 1962

By | June 19, 2017

Securities and Exchange Board of India CIRCULAR CIR/HO/MIRSD/MIRSD2/CIR/P/2017/59 June 15, 2017 To, All Recognized Depositories 2. Depositories Participants (DPs) through Depositories 3. Registrars to an Issue and Share transfer agents (RTAs) Dear Sir/ Madam, Sub: Interest and Dividend information reporting in case of Custodial Accounts- Rule 114G(1)(e) of the Income Tax Rules, 1962 1. This… Read More »

SEBI Circular on disclosure of executive remuneration by Mutual Funds

By | April 29, 2017

Circular No. SEBI/HO/IMD/DF2/CIR/P/2017/35 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/Madam, Subject: Circular on Mutual Funds 1. Please refer to SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated 18 March 2016. 2. In partial modification of the above mentioned circular, para C of the circular pertaining to disclosure of executive remuneration shall read as… Read More »

Use of e-wallet for investment in Mutual Funds allowed by SEBI & Other SEBI Board Meeting Decisions

By | April 27, 2017

SEBI Board Meeting PR No.: 25/2017  Dated: Apr 26, 2017 The SEBI Board met in Mumbai today and took the following decisions: 1.  Instant Access Facility (IAF) in Mutual Funds and use of e-wallet for investment in Mutual Funds With an objective to channelize households’ savings into capital market and to promote digitalization in mutual… Read More »

SEBI Payment of Fees& Mode of Payment Regulations 2017 -Notification -06.03.2017

By | March 8, 2017

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 6th March, 2017 SECURITIES AND EXCHANGE BOARD OF INDIA (PAYMENT OF FEES AND MODE OF PAYMENT) (AMENDMENT) REGULATIONS, 2017 1. These Regulations may be called the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017. 2. They shall come… Read More »

Guide to SEBI – Capital Issues, Debentures & Listing -K Sekhar Book

By | March 8, 2017

Guide to SEBI – Capital Issues, Debentures & Listing (Set of 2 Volumes) Hardcover – 23 Dec 2016 by K Sekhar (Author) Guide to SEBI, Capital Issues, Debentures and Listing is an encyclopedia on the conceptual, legal and procedural framework of the Indian capital market and securities laws, with complete coverage of the statutory provisions on… Read More »

SEBI Board Meeting -8 key decisions on 14.01.2017

By | January 15, 2017

PR No. 5/2017 SEBI Board Meeting The SEBI Board met in Jaipur today and took the following decisions:   I. Reduction of Fees payable by brokers by 25% and Calibration of other fees  SEBI has been following the practice of calibrating the fees either upwards or downwards as per SEBI’s requirements from time to time so… Read More »

Exclusively listed companies on Dissemination Board ; Time extended by SEBI

By | January 6, 2017

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2017/5 January 05, 2017 All recognised/Non-operational /Exited Stock Exchanges. All Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.) Dear Sir/Madam, Sub: Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB). 1. SEBI vide circular dated… Read More »

SEBI Guidance Note on Board Evaluation

By | January 6, 2017

Guidance Note on Board Evaluation CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2017/004 January 5, 2017 To All listed entities Sir / Madam, Sub: Guidance Note on Board Evaluation 1. The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) contain broad provisions on Board Evaluation i.e. evaluation of the performance of: (i) the Board as… Read More »

Credit of proceeds due to write off of securities held by Foreign Portfolio Investors/deemed Foreign Portfolio Investors.

By | January 3, 2017

CIRCULAR IMD/HO/FPIC/CIR/P/ 2017/ 001 January 02, 2017 To, All Designated Depository Participants (“DDPs”)/ Custodian of Securities All Foreign Portfolio Investors through their designated Custodians of Securities Sir / Madam, Subject : Reference to Circular no. FITTC/FII/02/2002 dated May 15, 2002- In regard to credit of proceeds due to write off of securities held by Foreign… Read More »

Depositories shall provide transaction data of promoters/group on daily basis SEBI

By | December 22, 2016

CIRCULAR CFD/DCR/CIR/2016/139 December 21, 2016 To All Listed Entities All Registered Registrar & Share Transfer Agents All Depositories All Nationwide Stock Exchanges Dear Sir/Madam, System-driven Disclosures in Securities Market 1. SEBI, vide circular dated December 01, 2015, had introduced the system-driven disclosures in securities market detailing the procedure to be adopted for its implementation with… Read More »

SEBI Infrastructure Investment Trusts Amendment Regulations 2016

By | December 1, 2016

GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/021.-In exercise of the powers conferred by section 30 read with sections… Read More »

SEBI Real Estate Investment Trusts Amendment Regulations 2016.

By | December 1, 2016

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/022 .─ In exercise of the powers conferred by section… Read More »

Continuous disclosures & compliances by InvITs -SEBI specified format

By | November 30, 2016

Securities and Exchange Board of India CIR/IMD/DF/127/2016 November 29, 2016 To All Infrastructure Investment Trusts (InvITs) All Parties to InvITs All Stock Exchanges Dear Sir / Madam, Sub: Continuous disclosures and compliances by InvITs 1. Regulation 23 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 prescribe disclosures to be made by an InvIT to the… Read More »

Guidelines for functioning of Stock Exchanges & Clearing Corporations in IFSC ( International Financial Services Centre )

By | November 29, 2016

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/125 November 28, 2016 All Stock Exchanges and Clearing Corporations in International Financial Services Centre Dear Sir/Madam Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) 1. Pursuant to announcement in the Union Budget 2015-16 on Gujarat International Finance Tec-City (GIFT), SEBI (International Financial Services Centre) Guidelines, 2015… Read More »

SEBI amendment regarding Angel Funds

By | November 24, 2016

PR No. 161/2016 SEBI Board Meeting The SEBI Board met in Mumbai today and took the following important decisions: I. Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 regarding Angel Funds In order to further develop the alternative investment industry and the startup ecosystem in India, SEBI, in March 2015, constituted a Committee of experts… Read More »

Intermediaries can verify PAN of FPIs online from Income Tax website

By | November 18, 2016

CIRCULAR CIR/IMD/FPIC/123/2016 November 17, 2016 To, 1. All Foreign Portfolio Investors (“FPIs”) through their Designated Depository Participants (“DDPs”)/ Custodian of Securities. 2. The Depositories (NSDL and CDSL) 3. All Recognized Stock Exchanges 4. KYC Registration Agencies (KRAs) Sir/ Madam, Subject: Review of requirement for copy of PAN Card to open accounts of FPIs 1. Please… Read More »

SEBI clarify trading in securities by employees of AMC(s) & Trustees of Mutual Funds

By | November 18, 2016

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2016/124 November 17, 2016 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds   Sir/ Madam, Subject: Investment/trading in securities by employees of AMC(s) and Trustees of Mutual Funds A. Please refer to SEBI circulars dated May 08, 2001, June 20, 2002, July 11, 2003, December 15, 2009 and May… Read More »

Enhanced Standards for Credit Rating Agencies

By | November 2, 2016

PR No. 150/2016 Circular on Enhanced Standards for Credit Rating Agencies (CRAs) With a view to strengthen the functioning of CRAs and to harmonise the best practices in the industry,SEBI constituted a committee on “Strengthening the Guidelines and Raising Industry Standards for Credit Rating Agencies (CRAs)”, which included representatives from all the CRAs. The objective… Read More »

Exit Order of Bombay Commodity Exchange Limited

By | November 2, 2016

PR No. 151/2016 EXIT ORDER IN RESPECT OF BOMBAY COMMODITY EXCHANGE LIMITED (BCEL) Whole Time Member, SEBI has passed an Order on Oct 28, 2016 providing the exit to Bombay Commodity Exchange Limited (BCEL). BCEL is the first commodity derivatives exchange / deemed stock exchange to exit after merger of Forward Markets Commission with SEBI.… Read More »

Freezing of Promoter Demat accounts for Non-­compliance SEBI Listing obligations

By | October 27, 2016

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2016/116 Dated: October 26, 2016 To All the Recognized Stock Exchanges All Depositories Dear Sir/Madam, Sub: Freezing of Promoter and Promoter group Demat accounts for Non-­compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 1. SEBI, vide Circular No. CIR/CFD/CMD/12/2015 dated November 30, 2015,… Read More »