Reference: Securities and Exchange board of India
Update:
Sebi notifies international exchanges for issuance of depository receipts
Capital market regulator Sebi has come out with a list list of eight jurisdictions and international exchanges where listed firms will be allowed to give permmissibl securities for issuning depositary receipts
Following is the list of Permissible Jurisdictions and International Exchanges
- United States of America – NASDAQ, NYSE
- Japan – Tokyo Stock Exchange
- South Korea – Korea Exchange Inc.
- United Kingdom excluding British Overseas Territories- London Stock Exchange
- France – Euronext Paris
- Germany – Frankfurt Stock Exchange
- Canada – Toronto Stock Exchange
- International Financial Services Centre in India – India International Exchange, NSE International Exchange
Implication:
Stock Exchanges and Depositories are advised to:
a) make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above circular; and
b) bring the provisions of this circular to the notice of the issuers, domestic custodians and also to disseminate the same on the website.
Reference: Central Board of Indirect Taxes and Customs
Update:
Annual Returns for FY 2017-18:
Government has made some changes in the forms of Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C) vide Notification No. 56/2019 dated 14.11.2019.
These changes do not impact the current tools required for preparation and filing of GSTR-9 and GSTR-9A for the financial year 2017-18. For GSTR-9C, some changes are required in the offline tool and online which is under development and is likely to made available by 10th December, 2019.
Reference: Reserve Bank of India
Update:
Exclusion of “Vijaya Bank” and “Dena Bank” from the Second Schedule of the Reserve Bank of India Act, 1934 and cessation as banking companies
\”Vijaya Bank” and “Dena Bank” have been excluded from the Second Schedule to
the Reserve Bank of India Act, 1934 with effect from April 01, 2019 since they
have ceased to carry on banking business with effect from April 01, 2019
Implication:
The public sector lenders were merged into Bank of Baroda at the beginning of the current financial year and, hence, ceased to operate as banking companies separately
Update:
Investment Policy of Clearing Corporations:
SEBI has permitted Clearing Corporations to make investments in Overnight Fund.
However, the combined investments made by Clearing Corporations in Liquid Funds and Overnight Funds shall not exceed a limit of ten percent of the total investible resources.
Implication:
The investments in Overnight Funds shall also be considered as \’Liquid Assets\’, for the purpose of calculation of Net worth of a Clearing Corporation.
