Corporate Updates – 18-06-2015


RBI has initially allowed External Commercial Borrowings (ECB) for Civil Aviation Sector by airline companies for working capital as a permissible end-use, under the approval route, subject to the conditions stipulated in the Circular. The scheme was extended initially till December 31, 2013 and then upto March 31, 2015. On a review, it has been decided that the above scheme of raising ECB for working capital for Civil Aviation Sector will continue till March 31, 2016 with the same terms and conditions.


SEBI has issued a circular in relation to certain processes / disclosure requirements under the SEBI (Share based Employee Benefits) Regulations, 2014. These are relating to Minimum Provisions in Trust Deed, Terms and Conditions of schemes to be formulated by the Compensation Committee, Contents of the explanatory statement to the notice and resolution for shareholders meeting, Information to be filed with the Stock Exchange(s) and Disclosures by the board of directors among other requirements.

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