Supreme Court: IBC Mechanism Cannot Replace Decree Execution or Recovery Proceedings || SC Orders Closure of School Over Loan Default, Directs Police-Assisted Takeover under SARFAESI Act || MP HC: HC Lacks Jurisdiction to Appoint an Arbitrator in International Commercial Disputes || Allahabad HC Imposes Rs 15L Costs on Husband For Filing False Affidavits in Maintenance Proceedings || MP HC Directs ASI to Upload Bhojshala–Kamal Maula Survey Video on Secure Platform For Litigant || Bombay HC: Public Gathering Does Not Justify Handcuffing, Awarded ?50,000 Compensation || Madras HC: Woman’s Dignity Linked to Right to Shelter; Orders Restoration of Demolished Home || SC: Absence of Independent Witnesses is Not Fatal if Injured Eyewitness Testimony is Sterling || Supreme Court: Prosthetic Limb Costs Must Be Compensated To Restore Victims’ Dignity || Supreme Court: Probate Can be Revoked For Non-Impleadment of Parties and Suppression of Facts

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 :