Corporate Updates – 28-05-2015


The Rajya Sabha on 13th May 2015 passed the Companies (Amendment) Bill, 2014. Further the Companies (Amendment) Bill received the assent of the President on the 25th May, 2015 and published in official Gazette of India on 26th May, 2015 and became “THE COMPANIES (AMENDMENT) ACT, 2015". This Act shall come into force on 26th May, 2015. The proposed amendments deal with related party transactions, fraud reporting by auditors, public inspection of Board resolutions, responsibilities of audit committee, restrictions on bail, making common seal optional, requirement for minimum paid-up share capital, strength of benches for hearing winding up cases, jurisdiction of special courts to try offences.


SEBI with an intention to have an effective regulation of the Depositories, Securities and Exchange Board of India (SEBI) has come out with the Master Circular for Stock Exchange & Clearing Corporation. This Master Circular is a compilation of all the existing / applicable circulars issued by SEBI upto 15/04/2015. In case of any inconsistency between the master circular and the applicable circulars, the contents of the relevant circular shall prevail. This Master Circular shall supersede previous Master Circular CIR/MRD/DP/17/2014 dated May 20, 2014.

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