Corporate Updates – 26-03-2015

Company Law Board:

In partial modification of the previous orders of the Company Law Board, the additional charge of Court No. 3 at New Delhi Bench given to Shri Dhan Raj, Member (Technical) shall cease to have effect from 23-03-2015. All judicial matters pending with New Delhi Bench presided by Shri Dhan Raj, Member (Technical) excepting those in which order are reserved after hearing, shall stand transferred to the Bench of Shri B.S.V. Prakash Kumar, Member, (Judicial) New Delhi Bench w.e.f. 23rd March, 2015.


SEBI has now been decided to establish the connectivity with both the Depositories NSDL and CDSL for Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement. A new procedure has been prescribed wherein company, after establishment of connectivity with both the Depositories, shall approach the stock exchange(s) having nationwide terminals for shifting the trading of its securities from TFTS to Rolling settlement and thereupon the stock exchange(s) shall after verifying may consider shifting the trading in these securities to Rolling Settlement.


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