MCA:
MCA has proposed a detailed procedure for conversion of Unlimited Liability Company into Limited Liability Company. MCA issued a notice inviting comments on the conv.ulc in the format provided in the said notice.
RBI:
The Budget Division of the Department of Economic Affairs notifies that repurchase of the Government Stocks will be undertaken through reverse auction by the Government of India in one or more tranches. The repurchase of “7.59 per cent Government Stock 2016”, “10.71 per cent Government Stock 2016”, and “7.02 per cent Government Stock 2016” will be for an aggregate amount of Rs 15,000 crore for its cash management operations. The payment for the repurchase of the Government Stocks will be made by the Government of India from its cash balances maintained with the Central Accounts Division, RBI, Nagpur. Such payment will include the accrued interest on the nominal value of the successful bids/offer accepted by the Reserve Bank of India. The Government stocks repurchased in this manner will get prematurely redeemed and interest will cease to accrue on such redeemed Government stocks.
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