Corporate Updates – 24-08-2015


RBI with an intention to promote the ease of reporting of transactions under Foreign Direct Investment, under the aegis of the e-Biz project of the Government of India, has enabled online filing of the Foreign Currency Transfer of Shares (FCTRS) returns for reporting transfer of shares, convertible debentures, partly paid shares and warrants from a person resident in India to a person resident outside India or vice versa. The design of the reporting platform enables the customer to login into the eBiz portal, download the reporting form (FCTRS), complete and then upload the same onto the portal using their digitally signed certificates. The Authorised Dealer Banks (ADs) will be required to download the completed forms, verify the contents from the available documents and if necessary, call for additional information from the customer and then upload the same for RBI to process and allot the Unique Identification Number (UIN). The FCTRS services of RBI will be made operational on the e-Biz platform from August 24, 2015. Further, it will be an additional facility to the Indian residents to undertake their FCTRS reporting and the manual system of reporting would continue till further notice.


SEBI has come out with Consultation paper for Amendments to the SEBI (Infrastructure Investment Trusts) Regulations, 2014 with an objective to solicit the comments/views from public on suggestions pertaining to making amendments/providing clarifications to the said Regulations. These Regulations are providing a regulatory framework for registration and regulation of Infrastructure Investment Trusts in India and inter alia, provide for conditions for making a public offer and private placement, initial and continuous disclosures, investment conditions, unit-holder approval requirements, related party disclosures, etc. Comments are invited on the Consultation Paper latest by September 06, 2015.

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