Corporate Updates – 29-04-2016


Securities Exchange Board of India in its order dated February 4, 2016 in the matter of trading in the shares of Palred Technologies Limited has mandated that Facebook Friends may also be treated as Connected Persons for the purpose of Insider Trading. In the said order, SEBI adjudged Facebook profile as one of the other factors for establishing connection between parties for determining insider trading. This seems to be the first instance where the regulator used Facebook as one of the evidence for establishing ‘connection’ under Insider Trading Regulations.


Department of Trade & Taxes has directed courier entities in Delhi to file quarterly return in CR-II for F.Y.2015-16 by May 16, 2016. This notification shall come into force with immediate effect. Form CR-II is an online quarterly return required to be filed by courier companies functioning in Delhi containing details of transactions of delivering goods having value more than Rupees Ten Thousand at the doorsteps of their clients either individually or at the business places or offices.

News from NIRC of ICSI

1. NIRC is organising Workshop on "Practical Aspects of Handling Board Meetings & General Meetings" (Covering SS-I & SS- 2) on Saturday, the 30th April, 2016 (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi Fee : Rs.500/- per delegate (Inclusive of Service Tax) including Corporate Members of NIRC, Online Payment Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 04.

2. The NIRC of ICSI has come out with an unique Corporate Membership for Young Members of ICSI. The whole idea behind the scheme was to build the capacity of our young members and to give them a fair chance to attend the seminars of professional interest at a reasonable cost. The scheme is named as YUVA Corporate Membership of NIRC-ICSI. The YUVA Corporate Membership Scheme for young members of NIRC of ICSI for the Financial Year 2016-17 is open for members who have awarded the membership on or after 1st January, 2014. Only First 300 members will be enrolled for the YUVA Corporate Membership Scheme. The Cheque/DD towards the YUVA Corporate Membership Fee for Rs. 3,000/- be drawn in favour of “NIRC of the ICSI”. ONLINE PAYMENT FACILITY also available.

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