Corporate Updates – 17-07-2017


SEBI has notified the Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2017 which shall be applicable from the date of the notification i.e 13th July, 2017. Amendments are carried out to provide International Securities Identification Number to all companies issuing debt securities. New Regulation 20B has been inserted to deal with International Securities Identification Number and any issuer issuing debt securities on private placement basis, shall comply with the conditions relating to the issue of International Securities Identification Number, as may be specified by the Board from time to time.


Income tax department vide press release dated 14th July, 2017 has stated that the IT department has identified 556,000 people for scrutiny over “huge inconsistencies” in the cash deposits made during the demonetization period, also had identified 60,000 people for investigation into claims of excessive cash sales. In the first phase, 17.92 Lakh persons had been identified for e-verification of large cash deposits, of which 9.72 Lakh people had submitted online response. The taxpayer will be able to submit online explanation without any need to visit Income Tax office. All identified persons are being informed through Email and SMS for submitting response online. Further, the Portal of Operation Clean Money ( launched on 16th May 2017 providing comprehensive information and Enabling Transparent Tax Administration.

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