SEBI _ Consultation paper for Amendment of SEBI (Infrastructure Investment Trusts) Regulation, 2014 and SEBI (Real Estate Investment Trusts) Regulation, 2014 - January 25, 2019
SEBI _ Consultation paper for Amendment of SEBI (Infrastructure Investment Trusts) Regulation, 2014 and SEBI (Real Estate Investment Trusts) Regulation, 2014 - January 25, 2019
RBI Voluntary Retention Route for Investments by FPIs 1 March 2019Venkatesh Prabhu
This document provides a summary of a regulatory bulletin announcing a new Voluntary Retention Route (VRR) scheme for Foreign Portfolio Investors. The key points are:
1) The VRR scheme aims to encourage long term investment in Indian debt markets by FPIs by providing greater flexibility and exemptions from regulations.
2) The aggregate investment limits are Rs. 40,000 crores for government securities and Rs. 35,000 crores for corporate bonds.
3) Investments must be retained for a minimum of 3 years, with at least 75% maintained in India. Limits will be allotted on a first-come first-served basis.
4) Eligible instruments
This document provides a stamp duty ready reckoner for various types of documents in Mumbai for 2018-2019. Some key points:
- Conveyance/transfer deeds for immovable property located in municipal corporation areas have a stamp duty of 5% of the true market value.
- Development agreements and agreements for purchase of flats from developers by investors also have a 5% stamp duty on the true market value.
- Gift deeds for residential property/agricultural land given to close family members have a low stamp duty of Rs. 200, while gift deeds to others are 5% of the true market value.
- Lease agreements have varying stamp duties from 5-10% depending on the lease period
SEBI Informal Guidance - IIFL Special Opportunity Fund - Lock in period asses...Venkatesh Prabhu
This regulatory bulletin from Beacon Trusteeship Ltd summarizes an informal guidance letter from the Securities Exchange Board of India (SEBI) regarding lock-in requirements for pre-IPO investments by Alternative Investment Funds. Specifically, SEBI clarifies that equity shares held by IIFL Special Opportunities Fund in ICICI Lombard General Insurance Company Limited prior to its IPO shall be locked in for a period of at least one year from the date of purchase by the alternative investment fund, in accordance with Regulation 37 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The bulletin provides background on Regulation 37 and details on IIFL Special Opportunities Fund's pre-IPO investment in
RBI - ECB Policy - Facility for Resolution Applicants under Corporate Insolve...Venkatesh Prabhu
This regulatory bulletin provides a disclaimer that the information presented is subject to change and is not intended as professional or financial advice.
It then summarizes a recent amendment to India's External Commercial Borrowings (ECB) policy. The amendment relaxes previous end-use restrictions to now allow resolution applicants under the Corporate Insolvency Resolution Process (CIRP) to raise ECBs from recognized lenders, except Indian bank branches/subsidiaries, for repaying rupee term loans of the target company.
All other ECB policy provisions remain unchanged. Notified banks must make constituents and customers aware of the amended policy, which takes immediate effect. A resolution applicant submits a revival plan for an insol
This document provides details about the recent notification issued by the Ministry of Corporate Affairs (MCA) regarding approval of startups for income tax exemption on investments received from angel funds under Section 56 of the Income Tax Act of 1961. Key points include:
1. Startups recognized by the Department for Promotion of Industry and Internal Trade (DIPP) can apply for approval if their paid up capital and premium is less than Rs. 10 crores and the investor has an income over Rs. 50 lakhs and a net worth over Rs. 2 crores.
2. The application process involves submitting Form 2 to DIPP along with documents including startup accounts and investor tax returns and net worth proof. DIP
Ministry of Corporate Affairs (MCA) - various notificationsVenkatesh Prabhu
The Ministry of Corporate Affairs issued various notifications amending rules under the Companies Act of 2013. Key amendments include: 1) Amounts received by companies from real estate investment trusts are excluded from deposits. Form DPT-3 must be filed for outstanding loans not considered deposits. 2) Rule 9A of chapter III on issue of securities in demat form will not apply to nidhis, government companies, or wholly owned subsidiaries. 3) Specified companies must file form MSME I with details of outstanding dues to micro and small enterprise suppliers within 30 days and half-yearly returns by October 31 and April 30.
SEBI_Guidelines for public issue of units of InvITs_Reits_ Amendments_15 Janu...Venkatesh Prabhu
The document is a regulatory bulletin from Beacon Trusteeship Ltd that summarizes recent amendments made by SEBI to REIT and InvIT guidelines.
For REIT guidelines, key amendments include changing the definition of institutional investors, allowing for extension of bidding periods in certain circumstances, and reducing the time required to announce floor/offer prices.
For InvIT guidelines, similar changes were made including changing the definition of institutional investors, restrictions on applications by associated merchant bankers, and allowing for extension of bidding periods. The amendments aim to further rationalize and ease the public issue process for REITs and InvITs.
RBI_External Commercial Borrowings Policy_New Framework_16 January 2018Venkatesh Prabhu
The document outlines revisions made to the External Commercial Borrowings (ECB) framework in India, merging different tracks of foreign currency and rupee denominated ECBs and expanding eligible borrowers. It rationalizes the ECB policy by setting parameters for currency, minimum maturity periods, eligible lenders and end uses, and establishes guidelines around hedging requirements. The revised framework aims to improve ease of doing business while strengthening anti-money laundering measures for entities raising funds through ECBs.
RBI Voluntary Retention Route for Investments by FPIs 1 March 2019Venkatesh Prabhu
This document provides a summary of a regulatory bulletin announcing a new Voluntary Retention Route (VRR) scheme for Foreign Portfolio Investors. The key points are:
1) The VRR scheme aims to encourage long term investment in Indian debt markets by FPIs by providing greater flexibility and exemptions from regulations.
2) The aggregate investment limits are Rs. 40,000 crores for government securities and Rs. 35,000 crores for corporate bonds.
3) Investments must be retained for a minimum of 3 years, with at least 75% maintained in India. Limits will be allotted on a first-come first-served basis.
4) Eligible instruments
This document provides a stamp duty ready reckoner for various types of documents in Mumbai for 2018-2019. Some key points:
- Conveyance/transfer deeds for immovable property located in municipal corporation areas have a stamp duty of 5% of the true market value.
- Development agreements and agreements for purchase of flats from developers by investors also have a 5% stamp duty on the true market value.
- Gift deeds for residential property/agricultural land given to close family members have a low stamp duty of Rs. 200, while gift deeds to others are 5% of the true market value.
- Lease agreements have varying stamp duties from 5-10% depending on the lease period
SEBI Informal Guidance - IIFL Special Opportunity Fund - Lock in period asses...Venkatesh Prabhu
This regulatory bulletin from Beacon Trusteeship Ltd summarizes an informal guidance letter from the Securities Exchange Board of India (SEBI) regarding lock-in requirements for pre-IPO investments by Alternative Investment Funds. Specifically, SEBI clarifies that equity shares held by IIFL Special Opportunities Fund in ICICI Lombard General Insurance Company Limited prior to its IPO shall be locked in for a period of at least one year from the date of purchase by the alternative investment fund, in accordance with Regulation 37 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The bulletin provides background on Regulation 37 and details on IIFL Special Opportunities Fund's pre-IPO investment in
RBI - ECB Policy - Facility for Resolution Applicants under Corporate Insolve...Venkatesh Prabhu
This regulatory bulletin provides a disclaimer that the information presented is subject to change and is not intended as professional or financial advice.
It then summarizes a recent amendment to India's External Commercial Borrowings (ECB) policy. The amendment relaxes previous end-use restrictions to now allow resolution applicants under the Corporate Insolvency Resolution Process (CIRP) to raise ECBs from recognized lenders, except Indian bank branches/subsidiaries, for repaying rupee term loans of the target company.
All other ECB policy provisions remain unchanged. Notified banks must make constituents and customers aware of the amended policy, which takes immediate effect. A resolution applicant submits a revival plan for an insol
This document provides details about the recent notification issued by the Ministry of Corporate Affairs (MCA) regarding approval of startups for income tax exemption on investments received from angel funds under Section 56 of the Income Tax Act of 1961. Key points include:
1. Startups recognized by the Department for Promotion of Industry and Internal Trade (DIPP) can apply for approval if their paid up capital and premium is less than Rs. 10 crores and the investor has an income over Rs. 50 lakhs and a net worth over Rs. 2 crores.
2. The application process involves submitting Form 2 to DIPP along with documents including startup accounts and investor tax returns and net worth proof. DIP
Ministry of Corporate Affairs (MCA) - various notificationsVenkatesh Prabhu
The Ministry of Corporate Affairs issued various notifications amending rules under the Companies Act of 2013. Key amendments include: 1) Amounts received by companies from real estate investment trusts are excluded from deposits. Form DPT-3 must be filed for outstanding loans not considered deposits. 2) Rule 9A of chapter III on issue of securities in demat form will not apply to nidhis, government companies, or wholly owned subsidiaries. 3) Specified companies must file form MSME I with details of outstanding dues to micro and small enterprise suppliers within 30 days and half-yearly returns by October 31 and April 30.
SEBI_Guidelines for public issue of units of InvITs_Reits_ Amendments_15 Janu...Venkatesh Prabhu
The document is a regulatory bulletin from Beacon Trusteeship Ltd that summarizes recent amendments made by SEBI to REIT and InvIT guidelines.
For REIT guidelines, key amendments include changing the definition of institutional investors, allowing for extension of bidding periods in certain circumstances, and reducing the time required to announce floor/offer prices.
For InvIT guidelines, similar changes were made including changing the definition of institutional investors, restrictions on applications by associated merchant bankers, and allowing for extension of bidding periods. The amendments aim to further rationalize and ease the public issue process for REITs and InvITs.
RBI_External Commercial Borrowings Policy_New Framework_16 January 2018Venkatesh Prabhu
The document outlines revisions made to the External Commercial Borrowings (ECB) framework in India, merging different tracks of foreign currency and rupee denominated ECBs and expanding eligible borrowers. It rationalizes the ECB policy by setting parameters for currency, minimum maturity periods, eligible lenders and end uses, and establishes guidelines around hedging requirements. The revised framework aims to improve ease of doing business while strengthening anti-money laundering measures for entities raising funds through ECBs.
RBI_MSME Sector_Restructuring of Advances_1 January 2019Venkatesh Prabhu
This document summarizes guidelines from the Reserve Bank of India regarding a one-time restructuring of existing loans to MSMEs classified as standard without a downgrade in asset classification. Key points include that banks must have board-approved restructuring policies by February 1, 2019, accounts must demonstrate satisfactory performance during the specified period after restructuring to be upgraded to standard, and additional provisions must be made for restructured accounts.
SEBI - Clarification on clubbing of investment limits of foreign portfolio in...Venkatesh Prabhu
Clubbing of investment limit for FPIs will be on the basis of common ownership of more than 50% or based on common control. However, clubbing of investment limit of FPIs having common control shall not be done in case of (a) FPIs which are appropriately regulated public retail funds or (b) FPIs which are public retail funds majority owned by appropriately regulated public retail funds on look through basis or (c) FPIs which are public retail funds and investment managers (IMs) of such FPIs are appropriately regulated.
SEBI - Disclosure of significant beneficial ownership in the shareholding pat...Venkatesh Prabhu
All listed entities shall disclose details pertaining to significant beneficial
owners in the format prescribed at Annexure to this circular.
3.2. The format specified in the Annexure to this circular shall be Table V under
clause 5 of the format of holding of specified securities specified in the
aforesaid circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015. The
circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015 shall stand
modified to that extent.
3.3. All the terms specified in this circular shall have the same meaning as specified
in Companies (Significant Beneficial Owners) Rules, 2018.
SEBI - Standardised norms for transfer of securities in physical mode - 06 No...Venkatesh Prabhu
The document provides standardized norms for transferring securities in physical mode in India. Key points:
- Requirements for physical security transfers prescribed by SEBI have led to varying documentation demands across registrars. This causes difficulties for transferees.
- Standardized process introduced: allows transfers without transferor PAN if before 2015; additional documents like passport/marriage certificate needed for PAN-name mismatches.
- For unsigned/mismatched transfers, registrars must make efforts to contact transferor. If not possible, transferee provides indemnity bond and securities are locked for 6 months, with details published.
- Address mismatches also allowed if bank attests new address. Overall aims to ease physical
Sebi - consultation paper-review of framework for institutional trading platf...Venkatesh Prabhu
The regulator has renamed the Institutional Trading Platform(ITP) as 'Innovators Growth Platform'(IGP)
SEBI Proposes minimum trading lot size to Rs 2 lakh from the existing Rs 10 lakh and also proposed lock-in of six months for all categories of pre-IPO public shareholders, unlike the current rule which exempts private equity funds from lock-in.
The minimum number of allottees has also been reduced to 50 from the existing 200. Besides, it has proposed to remove a minimum reservation of allocation to any specific category of investors and is considering allocation on a proportionate basis.At present, rules allow 75% of the net offer to the public to be allocated to institutional investors and the remaining 25% to non-institutional investors.
SEBI - Consultation paper on review of the regulatory framework for debenture...Venkatesh Prabhu
To secure the interests of debenture holders of listed debt issues, Sebi Wednesday proposed a slew of measures to strengthen the regulatory framework for debenture trustees, including raising minimum net worth requirement for registration of such entities to Rs 10 crore from the current Rs 2 crore.
The DT can directly enforce the security without obtaining any consent from the debenture holders.
Beacon Trusteeship is a trustee company formed by ex-bankers and professionals with experience in trusteeship. It provides trusteeship and fiduciary services to banks, NBFCs, government organizations, AIFs, and HNIs. The company aims to perform its fiduciary role responsibly and provide high quality services. It has a team of experienced professionals from banking and legal backgrounds. The company offers various trusteeship services including for bonds, securitization, AIFs, and real estate/infrastructure funds. It has relationships with major banks, NBFCs, real estate and infrastructure companies.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
RBI_MSME Sector_Restructuring of Advances_1 January 2019Venkatesh Prabhu
This document summarizes guidelines from the Reserve Bank of India regarding a one-time restructuring of existing loans to MSMEs classified as standard without a downgrade in asset classification. Key points include that banks must have board-approved restructuring policies by February 1, 2019, accounts must demonstrate satisfactory performance during the specified period after restructuring to be upgraded to standard, and additional provisions must be made for restructured accounts.
SEBI - Clarification on clubbing of investment limits of foreign portfolio in...Venkatesh Prabhu
Clubbing of investment limit for FPIs will be on the basis of common ownership of more than 50% or based on common control. However, clubbing of investment limit of FPIs having common control shall not be done in case of (a) FPIs which are appropriately regulated public retail funds or (b) FPIs which are public retail funds majority owned by appropriately regulated public retail funds on look through basis or (c) FPIs which are public retail funds and investment managers (IMs) of such FPIs are appropriately regulated.
SEBI - Disclosure of significant beneficial ownership in the shareholding pat...Venkatesh Prabhu
All listed entities shall disclose details pertaining to significant beneficial
owners in the format prescribed at Annexure to this circular.
3.2. The format specified in the Annexure to this circular shall be Table V under
clause 5 of the format of holding of specified securities specified in the
aforesaid circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015. The
circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015 shall stand
modified to that extent.
3.3. All the terms specified in this circular shall have the same meaning as specified
in Companies (Significant Beneficial Owners) Rules, 2018.
SEBI - Standardised norms for transfer of securities in physical mode - 06 No...Venkatesh Prabhu
The document provides standardized norms for transferring securities in physical mode in India. Key points:
- Requirements for physical security transfers prescribed by SEBI have led to varying documentation demands across registrars. This causes difficulties for transferees.
- Standardized process introduced: allows transfers without transferor PAN if before 2015; additional documents like passport/marriage certificate needed for PAN-name mismatches.
- For unsigned/mismatched transfers, registrars must make efforts to contact transferor. If not possible, transferee provides indemnity bond and securities are locked for 6 months, with details published.
- Address mismatches also allowed if bank attests new address. Overall aims to ease physical
Sebi - consultation paper-review of framework for institutional trading platf...Venkatesh Prabhu
The regulator has renamed the Institutional Trading Platform(ITP) as 'Innovators Growth Platform'(IGP)
SEBI Proposes minimum trading lot size to Rs 2 lakh from the existing Rs 10 lakh and also proposed lock-in of six months for all categories of pre-IPO public shareholders, unlike the current rule which exempts private equity funds from lock-in.
The minimum number of allottees has also been reduced to 50 from the existing 200. Besides, it has proposed to remove a minimum reservation of allocation to any specific category of investors and is considering allocation on a proportionate basis.At present, rules allow 75% of the net offer to the public to be allocated to institutional investors and the remaining 25% to non-institutional investors.
SEBI - Consultation paper on review of the regulatory framework for debenture...Venkatesh Prabhu
To secure the interests of debenture holders of listed debt issues, Sebi Wednesday proposed a slew of measures to strengthen the regulatory framework for debenture trustees, including raising minimum net worth requirement for registration of such entities to Rs 10 crore from the current Rs 2 crore.
The DT can directly enforce the security without obtaining any consent from the debenture holders.
Beacon Trusteeship is a trustee company formed by ex-bankers and professionals with experience in trusteeship. It provides trusteeship and fiduciary services to banks, NBFCs, government organizations, AIFs, and HNIs. The company aims to perform its fiduciary role responsibly and provide high quality services. It has a team of experienced professionals from banking and legal backgrounds. The company offers various trusteeship services including for bonds, securitization, AIFs, and real estate/infrastructure funds. It has relationships with major banks, NBFCs, real estate and infrastructure companies.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
SEBI _ Consultation paper for Amendment of SEBI (Infrastructure Investment Trusts) Regulation, 2014 and SEBI (Real Estate Investment Trusts) Regulation, 2014 - January 25, 2019
1. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 1/7
2. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 2/7
3. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 3/7
4. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 4/7
5. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 5/7
6. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 6/7
7. 1/26/2019 Securities and Exchange Board of India
https://www.sebi.gov.in/reports/reports/jan-2019/consultation-paper-for-amendment-of-sebi-infrastructure-investment-trusts-regulation-2014-and-sebi-real-estate-inve… 7/7