MCA:
MCA has extended the validity of 1930 reserved names which have expired as on the date of this circular is hereby extended upto 18th August, 2014. The letters of approval of name issued in respect of 9522 cases allow the applicants to use reserved names within 60 days of date of such intimation, however as per the new provision, the name is reserved for 60 days from the date of application. In view of this, MCA has extended the validity of 1930 of the above mentioned 9522 cases for reservations of names which have expired as on the date of this circular is hereby extended upto 18th August, 2014. Further, in case of 6864 cases where name have been reserved and are yet to be used, the time period as indicated in the letters of intimations is allowed.
SEBI:
SEBI has issued clarification and extension of deadline with respect to circular on ‘Guidelines on disclosures, reporting and clarifications under AIF Regulations‘. The deadline for sending of annexure to the placement memorandum to the investors under clause 2(a)(iii) is extended till August 31, 2014. With respect to disclosure of disciplinary history under clause 2(a)(ii), the same shall be applicable for the last 5 years and where monetary penalty is involved, in cases where such penalty is greater than Rs. 5 lakhs. With respect to disputed tax liabilities, the same shall not apply to liabilities in personal capacity of an individual. Contingent liabilities shall be as disclosed in books of accounts of the entity. For detailed circular, please Click Here.
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