Toeing the ‘Make in India’ initiative of the Government of India, the Ministry of Commerce and Industry released yesterday PN 2 of 2015 (to come into effect from 21st January 2015) in relation to Foreign Direct Investment (“FDI”) in manufacture of medical devices. Presently investment in greenfield pharmaceutical projects is permitted fully without government intervention.... Continue Reading →
Companies Act (Amendment) Bill, 2014: An update
In our previous post, we discussed the changes proposed to be brought about by an amendment to the Companies Act, 2013. At the time the text of the Amendment Bill had not been circulated and information was only available through a Press Release. The draft bill is now in the public domain and can be... Continue Reading →
Companies (Amendment) Bill, 2014
After the last draft notification on the proposed exemptions to private companies in June 2014, two days ago, the Union Cabinet, approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013. The Companies Act, 2013 was notified in two phases where a total of 280... Continue Reading →
Through the looking glass: Revised Insider Trading Regulations
The SEBI board meeting minutes (“SEBI Press Release”) describe the sweeping changes released by SEBI with respect to SEBI (Prohibition of Insider Trading) Regulations (“1992 PIT Regulations”). SEBI (as the spectator) in seeking to eliminate asymmetry of information and capacity to deal in securities, through its reforms to the insider trading regulations and to ensure a... Continue Reading →
Web portal for ease of Labour Law Compliance
The Ministry of Labour & Employment is administering over 40 Labour Laws. These laws are enforced by Central and State Enforcement agencies in their respective spheres. This mufti-faceted compliance system has been the point of criticism for the industry in general leading to severe compliance backlog. In response to the requests from various stake-holders for... Continue Reading →
MCA Clarification: FCCB issue does not require to comply with Public Offer / Private Placement Provisions
The Ministry of Corporate Affairs has yesterday (November 13, 2014) vide its circular clarified in response to industry references that the provisions of Chapter III of the Companies Act, 2013 dealing with Prospectus and Allotment of Securities shall not apply to an issue of FCCBs and FCBs made exclusively to persons resident outside India in... Continue Reading →
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