Corporate Updates – 27-07-2017


Ministry of Corporate Affairs, has constituted two Review Committee(s)for reviewing the 10 year old and above cases of different regions and in Office of SFIO for withdrawal of prosecutions. Pursuant to a reference received from the Hon’ble Minister of Law & Justice and Electronics & IT, Sh. Ravi Shankar Prasad regarding reducing the arrears and backlog of cases in courts and the need to review all pending court cases, a Special Arrears Clearance Drive is initiated in the Ministry. Keeping in view the above, Ministry has decided to constitute two Committees at Head Quarter which will review the cases under their jurisdiction. The Committees would review and recommend the details of cases in which prosecutions are required to be withdrawn including the reports submitted by the Regional Director(s).


SEBI has notified Securities and Exchange Board of India (Depositories and Participants) (Second Amendment)Regulations, 2017, which shall come into force on the date of their publication in the Official Gazette. In Regulation 58 which is relating to Manner of creating pledge or hypothecation, for sub-regulation (3), shall be substituted with new clause. Now within fifteen days of receipt of the application, the depository shall after concurrence of the pledgee through its participant, create and record the pledge and send an intimation of the same to the participants of the pledger and the pledgee.

News from NIRC of ICSI

NIRC of ICSI is organising a Mega Program on the theme “Capital Market of New India : The Reform Agenda for Inclusive Growth” on Saturday, the 29th July, 2017 from 10.00 AM onwards at Hotel Le-Meridien, Janpath, New Delhi. Fee: Rs. 2,000/-per delegate inclusive of service tax; FREE for Corporate Members of NIRC; Program Credit Hours: 04.ou received this message because you are subscribed to the Google Groups "CS Updates" group.

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