Corporate Updates – 19-05-2015

RBI:

RBI with an intention to liberalise and simplify the procedure Export of Goods and Services, has decided to dispense with the requirement of declaring the export of Goods /Software in the SDF in case of exports taking place through the EDI ports, as the mandatory statutory requirements contained in the SDF have been subsumed in the Shipping Bill format. The Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, requires that every exporter of goods or software has to declare the same in one of the forms stated therein.

SEBI:

SEBI has passed orders to provide Exit to the Madras Stock Exchange Limited (MSE) under the current policy MSE is the Fourteenth Stock Exchange to exit under this policy. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised /non operational stock exchanges, inter–alia, including treatment of assets of de-recognised / non-operational exchanges and a facility of dissemination Board for companies listed. Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Tamil Nadu are being intimated about the exit of MSE, for appropriate action at their end.