CCI probing airlines; US seeks clarity on FDI in e-commerce; Amul gets trademark protection
CCI probing airlines; US seeks clarity on FDI in e-commerce; Amul gets trademark protection
SEBI amends ICDR Regulations, notifies provisions for listing on Institutional Trading Platform
SEBI amends ICDR Regulations, issues SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2015; Exempts issuer company from issuing 'product advertisements' in all public communications and publicity material issued / published in any media commencing from date of filing draft offer document till date of allotment of securities offered; Replaces extant Chapter relating to 'listing & issue of capital by SMEs on Institutional Trading Platform ('IPT') without initial public offering' by 'Listing on ITP'; Defines ITP as trading platform for listing and trading of specified securities of entities which are intensive in use of technology, IT, IP, data analytics, bio-technology or nano-technology to provide products, services and at least 25% of its pre-issue capital is held by QIBS; States that an entity seeking listing without making public issue shall file draft information document along with necessary documents with SEBI and shall obtain in-principle approval from recognised stock exchanges; Prescribes minimum application size, minimum number of allottees, allocation of net offer, lock-in period, trading lot and exit of entities listed without making a public issue: SEBI
Click here to read more.
SEBI amends ICDR Regulations, modifies timelines for submitting post-issue reports by merchant banker
SEBI amends ICDR Regulations, issues SEBI (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2015; Lead merchant bankers shall dispatch offer document & forms for ASBA to the Registrar to issue & Share transfer agents, depository participants, stock brokers in advance (in addition to designated stock exchange, syndicate members, underwriters, bankers to the issue, investors' associations and Self Certified Syndicate Banks); Introduces a condition that in public issues, issuer shall accept bids using only ASBA facility and in case of rights issues (where not more than one payment option is given) the issuer shall provide ASBA facility in accordance with procedure and eligibility criteria specified by SEBI; Amends provision relating to post-issue reports in public issues, wherein lead merchant banker shall submit final report within 7days of date of finalization of allotment basis / within 7 days of refund (in case of failure of issue); Amends provision relating to post-issue reports in rights issue, wherein initial post-issue reports shall be submitted within 3 days of closure of the issue and final post-issue report within 15 days of date of finalization of allotment basis or within 15 days of refund of money (in case of failure of issue): SEBI
Click here to read more.
SEBI amends Takeover Code, exempts public announcement for company listed on institutional trading platform
SEBI amends (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; States provisions relating to making of public announcement by way of open offer as contemplated by Regulation 3(1) are not applicable to direct and indirect acquisition of shares / voting rights in, or control over a company listed without making a public issue, on the institutional trading platform of recognised stock exchange: SEBI
Click here to read more.
AIF investment in entities listed on ITP deemed as investment in 'unlisted securities': SEBI
SEBI amends Regulation 15 (relating to 'general investment conditions') of Alternative Investment Funds ('AIF'), Regulations, 2012; States that investment by Category I and Category II Alternative Investment Funds in the shares of entities listed on institutional trading platform shall be deemed to be investment in 'unlisted securities': SEBI
Click here to read more.
SEBI exempts delisting regulations compliance for securities listed on institutional trading platform
SEBI amends Regulation 3 (relating to 'applicability') of delisting of equity shares Regulations, 2009; States that delisting regulations shall not apply to securities listed without making a public issue, on the institutional trading platform of a recognised stock exchange: SEBI
Click here to read more.
FPIs raise Mauritius DTAA, PN concerns with SEBI; BSE extends arbitration facility to MF distributors
FPIs raise Mauritius DTAA, PN concerns with SEBI; BSE extends arbitration facility to MF distributors
Dismisses Enforcement Directorate's appeal over FERA violation; Central Govt. authorization a pre-requisite
HC dismisses Director of Enforcement ('Appellant') appeal against respondent who was found in possession of foreign exchange valued at Rs.69,064/-, thus alleged to have contravened FERA provisions; Appellate Board & Assistant Director had acquitted respondent as the case was not proved by appellant, thus, appellant preferred an appeal before HC; HC held that since appellant was not the aggrieved party (Central Govt was) and Central Govt had not authorised him to file an appeal, appellant did not have any locus standi to file the instant appeal; Relies on SC ruling in Mohtesham Mohd. Ismail v. Spl. Director, Enforcement Directorate and Anr, wherein it was held that in absence of any power conferred upon it by Central Government, Director of Enforcement could not prefer any appeal against the order passed by Appellate Board; Also refers to co-ordinate bench ruling in Director of Enforcement v. Rama Arangannal to observe that Director of Enforcement could not be said to be aggrieved merely because its order of adjudication was set aside by Appellate Board:Madras HC
Order was passed by Justice R. Sudhakar and Justice K.B.K. Vasuki
Advocate M.Dhandapani argued on behalf of appellant, while Advocate M.Abdul Nazeer represented respondent
__._,_.___
No comments:
Post a Comment