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Securities Exchange Board of India (SEBI)

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF DEBT SECURITIES) (AMENDMENT) REGULATIONS, 2015: SEBI in the notification dated 24th March, 2015 – inserted the following regulation after regulation 17, namely,- "Right to recall or redeem prior to maturity 17A. An issuer making public issue of debt securities may recall such securities prior to maturity date at his option (call) or provide such right of redemption prior to maturity date (put) to all the investors or only to retail investors, at their option, subject to the following: a) Such right to recall or redeem debt securities prior to maturity date is exercised in accordance with the terms of issue and detailed disclosure in this regard is made in the offer document including date from which such right is exercisable, period of exercise (which shall not be less than three working days), redemption amount (including the premium or discount at which such redemption shall take place); And the rest of the clauses can be referred in the regulation. SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (AMENDMENT) REGULATIONS, 2015: SEBI in the notification dated 24th March, 2015 amended the following regulation. In regulation 4, in sub-regulation (3) A. in clause (a), the word “twelve” shall be substituted with the word “eighteen”; B. in clause (b), the symbol " . " shall be substituted with symbol " ; " ; C. after clause (b), the following new clauses shall be inserted, namely:- “(c) the price or conversion formula of the warrants shall be determined upfront and at least 25% of the consideration amount shall also be received upfront; (d) in case the warrant holder does not exercise the option to take equity shares against any of the warrants held by him, the consideration paid in respect of such warrant shall be forfeited by the issuer.” (ii) in regulation 54, in sub-regulation (7), in the proviso, the words, numbers and symbol “the part payment on application shall not be less than 25% of the issue price and” shall be inserted after the word and symbol “investors,”. SECURITIES AND EXCHANGE BOARD OF INDIA (BUY-BACK OF SECURITIES) (AMENDMENT) REGULATIONS, 2015: SEBI in the notification dated 24th March, 2015 amended the following regulation. In the Securities and Exchange Board of (Buy-back of Securities) Regulations, 1998, in regulation 9, after sub-regulation (3), the following sub-regulation shall be inserted, namely,- "3A. The acquirer or promoter shall facilitate tendering of shares by the shareholders and settlement of the same, through the stock exchange mechanism as specified by the Board." SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) (AMENDMENT) REGULATIONS, 2015: SEBI in the notification dated 24th March, 2015 amended the following regulation. In the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, (I) in regulation 2, in sub-regulation (1), after clause (iv), the following clause shall be inserted:- 2 "(iva) “promoter group” shall have the same meaning as assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;". And the rest of the clauses can be referred in the regulation. SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (AMENDMENT) REGULATIONS, 2015: SEBI in the notification dated 24th March, 2015 amended the following regulation. In the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ─ (I) After regulation 5, the following regulation shall be inserted, namely:- Delisting offer. " 5A. (1) Notwithstanding anything contained in these regulations, in the event the acquirer makes a public announcement of an open offer for acquiring shares of a target company in terms of regulations 3, 4 or 5, he may delist the company in accordance with provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009: Provided that the acquirer shall have declared upfront his intention to so delist at the time of making the detailed public statement. And the rest of the clauses can be referred in the regulation. SARAL ACCOUNT OPENING FORM FOR RESIDENT INDIVIDUALS: It is gathered that a majority of new investors in the securities market begin with participation in the cash segment without obtaining various other facilities such as internet trading, margin trading, derivative trading and use of power of attorney. The account opening process can be simplified for such individual investors. With a view to encourage their participation, it is, therefore, decided that such individual investors can open a trading account and demat account by filling up a simplified Account Opening Form ('AOF') termed as 'SARAL AOF' given at Annexure A. This form will be separately available with the intermediaries and can also be downloaded from the Exchanges' and Depositories' website. The investors who open account through SARAL AOF will also have the option to obtain other facilities, whenever they require, on furnishing of additional information as per prescribed regulations/circulars.  
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