Wednesday, 16 July 2014

SEBI June 2014

Notification/Circular no. Date Subject Amendment
CIR/IMD/DF/12/2014 17-Jun-14 Base Issue Size, Minimum Subscription, Retention of Over
- Subscription Limit and further disclosures in the Prospectus for Public Issue of Debt securities
Following are prescribed:  (i) minimum subscription for public issue of debt securities shall be specified as 75% of the base issue. (ii)  further if the issuer does not
receive minimum subscription of its base issue size(75%), then the entire application
monies shall be refunded within 12 days from the date of the closure of the issue, failing which interest at the rate of 15% per annum shall be paid. (iii) Base Issue
size shall be minimum Rs 100 crores. (iv) issuers shall be allowed to retain the over
- subscription money up to the maximum of 100% of the Base Issue size or any lower limit as specified in the offer document. Further, certain additional disclosures are required to be done in a public offer document of Debt instruments and NCDs.
CIR/IMD/FIIC/13/2014 17-Jun-14 Investments by FPIs in Non-Convertible / Redeemable preference shares or debentures of Indian companies FPIs are permitted to invest on repatriation basis, in non-convertible/redeemable
preference shares or debentures issued by an Indian company in terms of the above
RBI circular and listed on recognized stock exchanges in India. The investments by FPIs in the abovementioned securities shall be reckoned against the Corporate Debt Investment Limits (US$ 51 billion). 
Consultation Paper - PR No. 62/2014 17-Jun-14 Crowdfunding in India SEBI has placed a Consultation Paper on 'Crowdfunding In India' on the website for public comments. Crowdfunding is solicitation of funds (small amount) from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause.
CIR/IMD/DF/14/2014 19-Jun-14 Guidelines on disclosures, reporting and clarifications
under AIF Regulations
Guidelines on various procedural requirements with respect to Alternate Investment Funds have been provided with respect to disclosures, reporting and clarifications under AIF Regulations
CIR/CFD/POLICY CELL/3/2014 27-Jun-14 SEBI Circulars No. CIR/CFD/DIL/3 /2013 dated January 17, 2013, CIR/CFD/DIL/7/2013 dated May 13, 2013 and CIR/CFD/POLICYCELL/14/2013 dated November 29, 2013 -
Extension of time line for alignment
SEBI Board is currently under process of framing a new set of regulations concerning employee benefit schemes dealing in shares of the company. Accordingly, SEBI has extended the time line for aligning the existing employee benefit schemes with
the SEBI (ESOS and ESPS) Guidelines, 1999 till the new regulations are notified. 

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