Corporate Updates – 13-07-2015


The Delhi Stock Exchange (DSE) has already been derecognized, vide SEBI Order and has mandated that all companies exclusively listed on DSE, would be shifted to the Dissemination Board (DB) set up by BSE. All Trading Members are informed that 1334 Companies which are exclusively listed on Delhi Stock Exchange Ltd., will be available on Dissemination Board of BSE (BSE DB) from Monday July 13, 2015. All companies admitted to BSE DB are not listed with BSE (are treated as unlisted companies)as there will be no listing agreement executed by BSE with these companies. There will be no monitoring of any compliance with respect to filings made by these companies; information received from companies (if any) will be disseminated on the BSE DB platform. Further, as per SEBI’s most recent Circular on the Subject, companies listed exclusively on Regional Stock Exchanges (RSEs), once shifted DB, shall be under an obligation to either provide liquidity to their shareholders or to provide exit to their public shareholders.


RBI has revised Regulatory Framework for NBFCs and introduced 2 new forms for financial parameters of the respective category of NBFCs. As per the revised regulations, all non-deposit taking NBFCs (NBFCs-ND), with assets less than Rs. 500 crore are required to submit an Annual Return. Two new Return Formats have been created to capture important financial parameters of the respective category of NBFCs, i.e.. NBS 8 for NBFCs-ND with assets size between Rs.100-500 crore, and NBS 9 for NBFCs-ND with assets size below Rs. 100 crore. The Annual Return should be submitted within 30 days of closing of the financial year, i.e. by 30th April of every year. Considering that most of these NBFCs will be filing such return for the first time, the Annual Return for the year ending March 31, 2015 may be filed by 30th September 2015. Further, to avoid duplication, non-deposit taking NBFCs with assets of Rs. 50- 500 crore that have already submitted the prescribed returns for the quarter ending March 31, 2015 are not required to submit the annual return for the year ending March 2015.

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