Corporate Updates – 22-04-2016


SEBI has clarified that the promoter of a small company under SEBI (Delisting of Equity Shares) Regulations, 2009, be considered to have complied with the condition of the Regulations if the public shareholders holding at least ninety percent of the public shareholding give their positive consent in writing to the proposal for delisting by introducing the issue in the FAQs on SEBI (Delisting of Equity Shares) Regulations, 2009 on 21-04-2016. Further, these FAQs offer only a simplistic explanation/clarification of terms/concepts related to the SEBI (Delisting of Equity Shares) Regulations, 2009. Any such explanation/clarification that is provided herein should not be regarded as an interpretation of law nor be treated as a binding opinion/guidance from the Securities and Exchange Board of India. For full particulars of laws governing the delisting of equity shares, please refer to actual text of the Acts/Regulations/Circulars appearing under the Legal Framework Section on the SEBI website.


Government of NCT of Delhi issued Delhi Value Added Tax (Amendment) Rules, 2016. Return Forms DVAT-16 and DVAT-17 have been amended wherein dealers are now required to furnish details of purchases and sales in Annexure 2A and 2B along with the description of goods and their codes. Forms DVAT-30 and DVAT-31 have also been amended. Dealers are now required to maintain their records in a manner to provide details of purchases and sales along with the description of goods and their codes. Further, in respect of sales made to unregistered dealers/persons, person-wise details including their PAN shall also be furnished wherever these details have been obtained by the seller in compliance to the provisions contained under the Income Tax Act. The amended rules shall come into force on the date of their publication in the Delhi gazette.

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