IBC (Amendment) Ordinance, 2018

The President of India has promulgated the IBC (Amendment) Ordinance, 2018 w.e.f. June 6, 2018, in exercise of his powers under Article 123 of the Constitution of India. The text of the Ordinance is available here. The amended IBC is available here. Major amendments ·         Homeowners shall be treated as financial creditors, thereby giving them …

SEBI offers Relaxations for Listed Entities undergoing Insolvency Resolution Process

SEBI has brought about a series of exemptions to the listed entities undergoing Corporate Insolvency Resolution Process (CIRP) of Insolvency and Bankruptcy Code, 2016 (IBC). We shall see them in detail below: Relaxation under SAST Regulations – No ceiling on acquisition limit SEBI has issued Securities and Exchange Board of India (Substantial Acquisition of Shares …

Notification relating to FEMA20(R)

RBI has issued notification dated June 1, 2018 notifying that proviso (ii) to sub-regulation (1) of regulation 10 and proviso (ii) to sub-regulation (2) of regulation 10 of the Foreign Exchange Management (Transfer or Issue of Security by a person resident outside India) Regulations, 2017, shall come into force with effect from June 02, 2018. This …

ECB – Monthly reporting through ECB 2 Return

What is ECB-2 return? ECB-2 return must be filed by those entities having External Commercial Borrowings within 7 working days from the close of the month through the designated Authorised Dealer to the Director, Department of Statistics and Information Management (DSIM), Mumbai. It is basically a return giving information on actual transactions of ECB for …

Foreign Investment in India – Reporting in Single Master Form

RBI has issued A.P (DIR Series) Circular No.30 dated June 7, 2018. It can be accessed here. With the objective of integrating the extant reporting structures of various types of foreign investment in India, RBI will introduce a Single Master Form (SMF). The SMF would be filed online. Single Master Form – SMF SMF would …