Corporate Updates – 01-12-2015


The Ministry of Corporate Affairs has given another breather to the Corporate’s by providing relaxation of additional fees and extension of last date for annual filings. MCA has issued a circular to extend the due date of annual filing of Forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) and relax the additional fees for the forms filed till 30th December, 2015.


RBI has reviewed the guidelines for Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds and has decided to permit FPI to acquire NCDs/bonds, which are under default, either fully or partly, in the repayment of principal on maturity or principal installment in the case of amortising bond. The revised maturity period of such NCDs/bonds, restructured based on negotiations with the issuing Indian company, should be three years or more. The FPI which propose to acquire such NCDs/bonds under default should disclose to the Debenture Trustees the terms of their offer to the existing debenture holders / beneficial owners from whom they are acquiring. Such investment should be within the overall limit prescribed for corporate debt from time to time (currently Rs. 2443.23 billion). All other existing conditions for investment by FPIs in the debt market remain unchanged.

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