Corporate Updates – 04-11-2016

Regional PCS Conference of NIRC

Registration open for Regional PCS Conference of NIRC of ICSI on the theme "PCS – EMPOWER, EMERGE & EXCEL” to be held on November 05-06, 2016 from 10.00 AM Onwards (Saturday& Sunday) at Hotel Amar, Taj Ganj, Agra (UP). Fees : Rs. 2,250/- per delegate; Rs. 1,500/- for Corporate Members of NIRC and Free for Corporate Members of NIRC (Delhi & Chapters); Program Credit Hour: 8. Limited accommodation available; For Online Registration, Click here.


SEBI vide Circular has tightened rules for credit rating agencies (CRAs). The new guidelines standardises the rating criteria, method of public disclosures, the internal functioning of rating committees and disallows the suspension of ratings. The Guidelines provides that each CRA shall disclose on its website details of all the ratings it has assigned, irrespective of whether the rating was accepted by the issuer or not, even in case of non-public issues. If the company stops co-operating with the CRA and does not provide information, the CRA must continue to publish a rating accompanied with the statement, “Issuer did not co-operate; Based on best available information” in the same font size. This means a CRA cannot suspend a rating based on a lack of information provided by the issuer.


The Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) has issued FAQ on Dividend Distribution Tax. The FAQs have clarified about the presentation requirements of dividend and dividend distribution tax if an entity has issued certain financial instruments that are classified as debt as per the provisions of Ind AS 32. Further, it has also clarified about the presentation requirements if the financial instruments issued are classified as equity or if these are compound financial instruments and bifurcated into debt and equity.

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