Depositories Archives

SEBI introduces Issue Summary Document and Dissemination of Issue to facilitate consumption of data by stakeholders

On 15-2-2023, the Securities and Exchange Board of India (‘SEBI’) issued circular on Introduction of Issue Summary Document (ISD) and dissemination of

Case Briefs High Courts

Clauses in Information Brochure based on statutory Master Circular is enforceable; Bombay High Court sets aside Administrator decision to write down AT-1 bonds once Yes Bank stood reconstituted

The clauses in the Information Memorandum are based on the Master Circular which is issued by the Reserve Bank under its statutory powers. Information Memorandum and its clauses refer to Master Circular. The said Information Brochure has a statutory flavour. In that event, the agreement would have a statutory base and such an agreement can certainly be enforceable.

Legislation Updates Notifications

SEBI extends timeline for entering and verifying of details in Security and Covenant Monitoring system

On 5-1-2023, the Securities and Exchange Board of India (‘SEBI') has extended the timelines for entering and verifying the details

Legislation Updates Rules & Regulations

Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020 — Notified

G.S.R. 226(E).—In exercise of the powers conferred by section 73A of the Indian Stamp Act, 1899 (2 of 1899), the Central Government