Corporate Professionals Blog

SEBI had received a complaint against Axis Bank Limited (Noticee) stating that the Noticee had traded in the shares of KSK Energy Venture Ltd. (KEVL) and KSK Energy Venture Ltd  (BRFL) at the time when it was acting as a Merchant Banker for the open offer of KEVL and BRFL under SEBI (SAST) Regulations, 1997 (SAST Regulations) and initiated the adjudicating proceedings against the Noticee for violation under SEBI (PIT) Regulations, 1992, SEBI (SAST) Regulations, 1997 and SEBI (Merchant Bankers) Regulations, 1992. After investigation and considering the submissions made by the Noticee, AO does not find any conclusive evidence in respect of the above mentioned alleged violations against the Noticee and therefore a benefit of doubt has been given to the Noticee.

Think – traditional Indian woman. It is unlikely that you will miss out on the elaborate jewellery she adorns in her picture in your mind. Jewellery has been a part and parcel of a woman’s life in India. Centuries have come and gone but jewellery, especially gold and silver, have very permanently become a part of India’s culture – little girls seeing their grandmother’s jewellery with their twinkling eyes, dreaming to wear it once they have gracefully transitioned into grown up ladies. No wonder, the Gems and Jewellery Industry in India is one that is very important for the country, not only for its culture but also for its economy. Mr. Manoj Kumar Vice President +919910688433 manoj@indiacp.com As per the Confederation of Indian Industry , the Indian Gems and Jewellery Industry is one of the fastest growing industries in India which contributes to earning an appreciable amount of foreign exchange for the country’s treasury every year. The industry covers a wide range of

Department of Industrial Policy and Promotion, Government of India (DIPP) has notified the new consolidated policy on Foreign Direct Investment (FDI) on 5th April, 2013. This policy supersedes all earlier policies, circulars, press notes issued on FDI by DIPP. Mr. Pankaj Singla Sr. Associate +919971508320 pankaj@indiacp.com Barring few changes, this policy is more of a compilation of circulars issued by Reserve Bank of India in the past one year. The key features of new FDI policy are as follows:

As listed Corporates are aware that SEBI, in the month of October 2011, made certain amendments to the Listing Agreement, including Cl 41 thereof. Ms. Anjali Aggrawal Vice President +919971673336 anjali@indiacp.com As per new sub clause (I)(d) and (e) of Clause 41, in respect of the last quarter, the option to submit unaudited results within 45 days has been dispensed with and all the Listed Companies have to mandatorily submit the Annual Audited Financial Results prepared on both stand-alone as well as consolidated basis within the specified period of 60 days from the end of the Quarter. Now, that the last quarter of the Financial Year 2012-13 has ended, thus all the Listed Companies (with April to March Financial Year), will have to gear up for having their as well as their Subsidiaries’ Audits completed and prepare not just their own financial results but also for their Subsidiaries and submit the same with the Stock Exchanges by 30th May, 2013. http://indiacp.b

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