Corporate Updates – 27-08-2014

SEBI:

The Central Government has amended the Securities (Regulation) Rules, 1957 which shall come into force on the date of their publication in the official gazette. In a move to maintain the uniformity among all the listed public sector companies, it is now mandated that every listed public sector company which has public shareholding below 25% on the date of commencement of, Securities (Regulation) (Second Amendment) Rules 2014, shall increase its public shareholding to atleast 25% within a period of 3 years in the manner as may be specified by SEBI.

CBEC

The Central Government has amended the CENVAT Credit Rules,2004, which shall be called as the Cenvat Credit (Seventh Amendment) Rules, 2014 and shall come into force on the date of their publication in the Official Gazette. In the CENVAT Credit Rules, 2004, in rule 12AAA, after the words “first stage and second stage dealer”, the words “provider of taxable service” shall be inserted.

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