News Updates 25th April, 2016

News Updates dated 25th April, 2016

• Version of e-forms INC-1, INC-7, DIR-3, MGT-6, FC-4 were  updated on MCA21 portal.  Stakeholders are advised to download the latest version before filing as the older version form will not be accepted by the system.

• SEBI has published FAQs on SEBI (DELISITING OF EQUITY SHARES) REGULATIONS, 2009 explaining/ clarifying the various terms/concepts related to the SEBI (Delisting of Equity Shares) Regulations, 2009. 

• SEBI vide Circular No. CIR/IMD/DF1/48/2016 dated 21st April, 2016 has prescribed procedures for issuance of debt securities on private placement basis and enhance transparency to discover prices prescribing framework for issuance of debt securities on private placement basis through an electronic book mechanism.

• India's first small finance bank launched in Jalandhar on Sunday. The bank opened 10 branches in the state on the day of its launch.

• Chief Justice of India T S Thakur on Sunday almost broke down at a meeting in the presence of Prime Minister Narender Modi, laminating the government's "inaction" in increasing number of judges.  A meeting of chief ministers and chief justices of high courts adopted a resolution to invoke a constitutional provision to appoint retired judicial officiers as ad hoc judges.

• High Court cannot entertain writ plea challenging Tribunal's order u/s 17 of SARFAESI Act unless it is exceptional case: Karnataka High Court.

• Now infrastructure debt fund-NBFCs can raise funds by issuing shorter tenor bonds and commercial papers.

• Waiver of loan tantamount to benefit or perquisite, chargeable to tax under Sec. 28(iv): Madras High Court.

• Employee's Provident Fund Organisation (EPFO) plans to launch One Employee One EPF account system on May 1 to dissuade premature PF withdrawal and encourage state governments to join its pension system.

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