The weekly messenger | Edition 07.17
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas.
Regulatory News
SEBI (ICDR) (Amendment) Regulations, 2017– 15 February 2017
SEBI has amended the SEBI (Issue of Capital and Disclosure Requirements (ICDR)) Regulations, 2009 by the amended regulations 2017 wherein reference of corresponding sections of companies act 1956 in companies act 2013 have been incorporated in regulation 70 of chapter VII ‘preferential issue’ which relates to the exceptions to the applicability of preferential issue of equity shares.
Further, two new regulations i.e. regulation 111A ‘Liability for contravention of the Act, rules or the regulations’ and 111B ‘Failure to pay fine’ have also been added.
These regulations will become effective from the date of the publication.
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SEBI (LODR) (Amendment) Regulations, 2017 – 15 February 2017
SEBI has amended the SEBI (Listing Obligations and Disclosure Requirements (LODR)) Regulations, 2015 by the amended regulations 2017 wherein a new sub regulation has been inserted in regulation 37 which relates to the ‘draft scheme of arrangement & scheme of arrangement’. As per the new sub regulation, regulation 37 shall not be applicable to the draft scheme which solely provide for merger of a wholly owned subsidiary with its holding company. However, such draft schemes shall be filed with stock exchanges for the disclosure purposes.
These regulations will become effective from the date of the publication.
For more information, click here