Amendment in SEBI Listing Regulations

SEBI, with the intent of investor protection and enabling them to take better and well informed investment decisions, has vide its Circulars dated 25th May 2016 and 27th May 2016 brought in certain amendments to the LODR Regulations (primarily Regulations 33 & 52). These Regulations pertain to the requirements of submitting Financial Results of the Company. As per the extant provisions, alongwith the Audited results for the financial year, Form A/ Form B were needed to be submitted, depending upon there being any Auditors’ Qualifications or not. Now, vide the above mentioned Circulars, it has been decided to streamline the process and do away with the requirement of filing these Forms. The listed Companies are now required to disseminate the cumulative impact of all the audit qualifications in a separate format, simultaneously, while submitting the annual audited financial results to the stock exchanges. The provisions of the said Circulars are applicable for all th…

What's Your Business Worth ?

Ever Wondered what’s your Business Worth ? Our Valuation Team has prepared a crisp Video on How to Value a Company” for its broad understanding. Do let us know your feedback.
“Knowing what business is worth and what determines its value is prerequisite for intelligent decision making”. Corporate valuations form the basis of corporate finance activity including M&A, fund raising, Sale of businesses, Succession planning and also to meet regulatory and accounting requirements. The rapid globalization of the world economy has created both opportunities and challenges for organizations leading to uncertainty blowing across global markets and raising the importance of independent valuations all over the world. Justifying the value of businesses has grown more complex and challenging as its been accepted that valuation of closely held / infrequently traded listed shares is not an exact science and depends upon a number of factors like purpose, minority/ controlling interest, stage, finan…

Key Highlights of Insolvency & Bankruptcy Code, 2016


Key highlights of SEBI Board Meeting on Thursday 20th May 2016

 Offshore Derivative Instruments (ODIs)
Following suitable amendments to the Regulations/circulars are proposed to be made vis-à-vis ODIs: Stricter Know your client (KYC) & Anti Money Laundering (AML): Indian KYC/AML norms will now be applicable to all ODI issuers.ODI Issuers shall be required to identify and verify the beneficial owners/ the person(s) who control the operations in the subscriber entities i.e. holding more than 25% in case of a company and 15% in case of partnership firms/ trusts/ unincorporated bodies. Prior permission for Transferability: ODI subscribers will have to seek prior permission of the original ODI issuer for further/onward issuance/transfer of ODIs. Reporting of complete transfer trail of ODIs: in monthly reports on ODIs, all the intermediate transfers during the month would also be required to be reported KYC Review: At the time of on-boarding and once every three years for low risk clientsAt the time of on-boarding and every year for all other c…

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Regularizing Pro-Trading for Commodity Brokers

The merger of Forward market commission (FMC) with Security Exchange Board of India (SEBI) has enlarged the scope of market regulation for SEBI by bringing commodity derivative market into its domain. Since merger of two regulators in September 2015 in an attempt to align commodity market with equity market, SEBI has been taking several initiatives. In line with this objective, of late SEBI has issued yet another circular dated 25th April 2016 for mandating Commodity Derivative Brokers to disclose their proprietary trading and details of pro-account trading terminals to its clients. Discloser of proprietary trading For fulfilling the purpose of increased transparency in dealings between the commodity broker and their clients, the provision of SEBI circular (Dated 19th Nov. 2003) are extended to commodity derivative markets. The provisions of the circular requires that every broker shall disclose to his client whether he does proprietary trading as well or not. The comm…