SEBI
SEBI has issued new norms for risk management at commodity markets to strengthen the Risk Management framework. It has also put in place measures such as staggered delivery system, fixation of final settlement price (FSP) and change in expiry date. Under the staggered delivery, in all futures contracts, tender period would start with onset of the applicable staggered delivery period. In case the day happens to be a holiday, the tender period would start from next working day. Further, Exchanges will have to provide early pay-in facility to market participants permitting them to deposit certified goods to the exchange accredited warehouse against relevant futures contracts sold. The norms would come into effect immediately.
SEBI
SEBI has issued a clarification that ‘Income from Operations’ may be disclosed inclusive of excise duty, instead of net of excise duty, as specified in the Companies Act, 2013. SEBI had earlier issued a circular dated November 30, 2015, wherein, it was prescribed that ‘revenue from operations’ may be disclosed net of excise duty. Subsequently, as per Schedule III of the Companies Act, 2013, which was notified on April 6, 2016, revenue from sale of products had to be disclosed inclusive of excise duty. Therefore, in order to follow a uniform approach with regard to disclosure of ‘revenue from operations’, SEBI has issued the abovementioned clarification. Listed Companies are required to take note of the said clarification and comply accordingly.
News from NIRC of ICSI
1. Registration open for NIRC’s Workshop on "GST – IMPACT & PREPAREDNESS", Key-Note Address by Mr. Ravneet Khurana, Deputy Commissioner, GST, CBEC" on Saturday, the 24th September, 2016 (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi Fee : Rs. 500/- including Corporate Members of NIRC, Online Payment / Registration Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 06.
2. NIRC of ICSI is participating in the ensuing Airtel Delhi Half Marathon -2016 (6 km ‘Great Delhi Run’), which will be held on Sunday, the 20th November, 2016. NIRC would be participating in the group category with a group named as “ICSI Group”. Interested members may fillup the form for the ‘Great Delhi Run’ 6 km category and send the hard copy of the filled up form along with a copy of the photo id proof, passport size photograph and deposit the above along with a fee of Rs. 600/- on or before 1st October, 2016 by cash or by cheque/DD in favour of “NIRC of ICSI” with full details on the reverse side of the cheque/DD i.e. full name, contact number, Membership No. To make the payment online, please Click Here.
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