Corporate Updates – 11-04-2016


Securities Exchange Board of India issued a clarification regarding applicability of Indian Accounting Standards to disclosure in offer documents under SEBI (ICDR) Regulations, 2009. The circular provides the manner of disclosure of financial information by issuer companies in accordance with Ind AS in the offer document. It further clarifies that all other requirements with respect to disclosure of financial information in the offer documents shall remain the same. The circular is applicable for all the companies which are required to disclose the financial information in accordance with Ind AS as per MCA roadmap and whose offer document is filed with the Board on or after April 1, 2016.


The Reserve Bank of India notified that the concentration of credit/investment norms would not apply to a systemically important non-banking financial company not accessing public funds in India, either directly or indirectly and not issuing guarantees. Earlier, as per the Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015, any NBFC not accessing public funds or not issuing guarantees can make an application to the RBI for an appropriate dispensation from the concentration of credit/ investment norms. But, by this notification, RBI has done away with any application for dispensation from such concentration.

Speak Your Mind