E India CA

Professional Updates for Chartered Accountants

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Sebi notifies rules to levy fee on participatory notes

Markets regulator Sebi has notified stricter participatory notes (P-Notes) norms stipulating a fee of USD 1,000 that will be levied on each instrument to check any misuse for channelising black money. The new measures, which follow a slew of other steps taken by Sebi in the recent past, come at a time when the value of f...

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Sebi amends debenture trustee regulations

Markets regulator Sebi has put in place new regulations for debenture trustees, wherein an entity will not be prohibited from acting as a trustee if the government provides guarantees for the debenture issued. The norms comes following recommendations of a Sebi- appointed task force that examined the "challenges in performing the ...

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Sebi expresses concern over high derivatives-to-cash turnover

The Securities and Exchange Board of India (Sebi) has expressed concern over high equity derivatives turnover vis-à-vis cash turnover.   For every one rupee of cash turnover, Rs 15.6 (notional value) of derivatives is traded. The derivatives-to-cash turnover in India is the world's second highest, after South Korea, where it is...

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Sebi allows NRIs to hedge currency risk

Markets regulator Sebi on Wednesday allowed NRIs to access the exchange traded currency derivatives (ETCD) market to hedge currency risk arising out of their investments in India, a move aimed at providing them additional hedging option. At present, NRIs are permitted to hedge their rupee currency risk through over-the-counter...

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Sebi seeks to ease norms for FPIs to shun P-Note route

The Securities and Exchange Board of India (Sebi) on Wednesday unveiled a discussion paper proposing to ease the entry norms for foreign portfolio investors (FPIs). The move is aimed at encouraging FPIs to invest directly in Indian markets without taking recourse to the so-called participatory notes (P-Notes). P-Notes, or offshor...

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Sebi tweaks OFS norms to encourage employees’ participation

Relaxing its offer-for-sale (OFS) norms, markets regulator Sebi today allowed companies' promoters to sell shares within two weeks from the OFS transaction to their employees. Currently, promoters cannot buy or sell the company's shares for 12 weeks after the OFS. In order to streamline the process of OFS with ...

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Sebi relaxes open offer norms, moves to discourage P-notes

In a move that should facilitate the resolution of stressed assets, the Securities and Exchange Board of India (Sebi) on Wednesday exempted new investors in stressed firms as also in some instances banks from making the mandatory open offer to minority shareholders under the Sebi (Substantial Acquisition of Shares and Takeovers) Regu...

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Sebi to exempt private equity funds from IPO lock-in

The Securities and Exchange Board of India (Sebi) is planning to exempt private equity (PE) funds from the one-year lock-in requirement in initial public offerings (IPOs). Under the current norms, the entire pre-IPO shareholding of PE investors cannot be sold for one year after listing. According to sources, the capital market regula...