Corporate Updates – 01-05-2017


Reserve Bank of India, keeping in view the greater role envisaged for Asset Reconstruction Companies (ARCs) in resolving stressed assets as also the recent regulatory changes governing sale of stressed assets by banks to ARCs, it has been decided to fix the minimum Net Owned Fund (NOF) requirement for ARCs at ₹ 100 crore on an ongoing basis with effect from 28-04-2017. All the ARCs which are already registered with Reserve Bank of India, having less than Rupees One Hundred Crore, NOF shall achieve the prescribed minimum NOF level latest by March 31, 2019 and the same should be duly certified by the Statutory Auditors.


SEBI with the objective to promote transparency in remuneration policies so that executive remuneration is aligned with the interest of investors, has directed that all MFs/AMCs shall make the following disclosures pertaining to a financial year on the MF/AMC website under a separate head – ‘Remuneration’ including Name, designation and remuneration of Chief Executive Officer (CEO), Chief Investment Officer (CIO) and Chief Operations Officer (COO) or their corresponding equivalent by whatever name called, Particulars of top 10 employees, particulars of employees drawing above the limits etc. The AMCs/MFs shall disclose this information within one month from the end of the respective financial year (effective from FY 2016-17).

News from NIRC of ICSI

Registration open for “15 days Crash Course exclusively for Female Members” on different topics for three weeks i.e. from Monday, the 1st May, 2017 to Wednesday, the 17th May, 2017 from 4.00 PM to 6.30 PM at NIRC Auditorium, ICSI-NIRC Building, Plot No. 4, Prasad Nagar Institutional Area, New Delhi -110005. Fee : Fees (inclusive of service tax): Rs.2,250/- for all sessions (including Corporate Members); Program Credit Hours: 02 per day.

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