Transfer of shares in physical form to be stopped from April 1, 2019 SEBI has recently amended relevant provisions of SEBI (Listing Obligations and Disclosure Requirements)(Fourth Amendment)Regulations,2018 to disallow listed companies from accepting request for transfer of securities which are held in physical form with effect from April 1,2019. The shareholders, who continue to hold shares and… Read More »
Ministry of Finance Amendments to the Indian Stamp Act, 1899 for Rationalization of Stamp Duty & Design of Zero Evasion Collection Mechanism in Respect of Securities market instruments Posted On: 21 FEB 2019 The President of India, today, gave his assent to the Amendments to the Indian Stamp Act, 1899 which were introduced as part… Read More »
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 [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 [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 [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 [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 [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 [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 [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 »