Bombay HC: Insolvency Cannot be Used to Evade a Family Court’s Maintenance Order || Kerala HC: Forklifts and Factory Cranes Are Motor Vehicles and Must be Registered under MV Act || Guj HC: Edible Crude Palm Kernel Oil Qualifies for Duty Exemption; End-Use Condition not Applicable || NCLAT Delhi: Advance under Land-Development MoU is not Financial Debt and Cannot Trigger CIRP || NCLAT: NCLT Cannot Change Capital Structure of a Legally Compliant Successful Auction Purchaser || Supreme Court: Endless Investigation and Long Delay in Filing Chargesheet Can Justify Quashing Case || SC: Landowners Accepting Compensation Settlements Cannot Later Claim Statutory Benefits || Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act || Supreme Court: Indian Courts Cannot Appoint Arbitrators for Arbitrations Seated Outside India || Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report

Changes proposed in timeframe for issue of shares and reporting of FDI- (Reserve Bank of India) (04 Feb 2016)

MANU/RPRL/0053/2016

Banking

The Reserve Bank of India has proposed changes in respect of the time frame for issuing shares to align provisions of the Foreign Exchange Management Act, 1999 which requires an investee company receiving Foreign Direct Investments to issue shares within 180 days of receipt of foreign investment with the provisions of the Companies Act, 2013 and in respect of filing of report with the Reserve Bank regarding receipt of foreign investment and issue of shares. Comments are being received till 22nd February, 2016.

Tags : RBI TIMEFRAME ISSUE REPORTING SHARES FDI

Share :