Corporate Updates – 07-01-2015


SEBI issues Concept Paper on proposed framework for issuance and listing of debt securities by municipalities. Pursuant to the recommendation made by Corporate Bonds and Securitization Advisory Committee (CoBoSAC), SEBI is proposing to lay down regulatory framework for issue and listing of debt securities by municipalities. In this regard, SEBI has initiated the public consultation process by preparing concept paper and draft regulations viz., SEBI (Issue and Listing of Debt Securities by Municipality) Regulations, 2015. Comments of public are invited on the draft regulations latest by January 30, 2015.


RBI has revised the format of reporting for Representative Offices of Foreign Banks in India. All Representative Offices of foreign banks in India are currently required to submit information / documents on an annual basis to Reserve Bank of India along with the a certificate from the auditor to the effect that during the year no income was earned by/ accrued to the office in India, certified copy of the audited final accounts of the office in India. The revised format of reporting would be effective from the next reporting cycle.


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