29 November, 2018
COMPANY LAW UPDATE
In this issue, as the lead article, we have analysed the impact of the Supreme Court decision in Arcelormittal India Private Limited v. Satish Kumar Gupta & Ors, on the critical corporate law issue of whether veto rights amount to ‘control’.
Apart from the above, we have also captured the key notications and orders issued by the Ministry of Corporate Affairs in relation to the Companies Act, 2013 as well as circulars and notications issued by the RBI and SEBI for the period under review.
Any feedback and suggestions would be valuable in our pursuit to constantly improve Insight and ensure its continued success amongst readers.
- Amendments and Circulars
- Amendments to the Companies (Prospectus and Allotment of Securities) Rules, 2014
- Amendments to the Companies (Registered Valuers and Valuation) Rules, 2017
- Commencement of certain sections of the Companies Act, 2013
- Amendments regarding appointment and remuneration of managerial personnel
- Amendments to Companies (Corporate Social Responsibility Policy) Rules, 2014
FOREIGN INVESTMENT AND RBI UPDATE
Amendments and Circulars
- FEMA 20(R) amended for reporting by investment vehicle
- FEMA 22(R) amended to avoid overlap with Foreign Contribution (Regulation) Act, 2010
- Liberalisation of External Commercial Borrowing Policy
- Co-origination of loans by Banks and NBFCs for lending to priority sector
- Draft guidelines on prohibiting market abuse
SECURITIES LAW UPDATE
Amendments and Circulars
- SEBI noties SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- Clarications concerning the amendment to Regulation 40 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI mandates usage of Electronic Book Provider Platform for private placement of securities
- SEBI streamlines the process of public issues of debt and convertible securities
- Amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI noties Buy-Back of Securities Regulations, 2018
- Amendments to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Discussion Papers And Board Meeting
- lSEBI Board Meeting
- Know your client requirements for Foreign Portfolio Investors
- Eligibility norms for determining FPIs
Informal Guidance
- Non-applicability of Regulation 10 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 if acquisition does not trigger the obligation to make an open offer
- Sale of shares by an independent director in accordance with a trading plan under the SEBI (Prevention of Insider Trading) Regulations, 2015
- Applicability of the SEBI (Share Based Employee Benets) Regulations, 2014 to a private Indian trust which independently runs and administers certain welfare schemes for the benet of the employees of a listed entity.
- Applicability of the revised denition of the term 'Independent Directors', under the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018.
- Borrowing, lending of shares by insiders to attract SEBI (Prevention of Insider Trading) Regulations, 2015
For the full update (18 pages), please click here.
For further information, please contact:
Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas
cyril.shroff@cyrilshroff.com
