RULES OF LAW

MCA has appointed 14th Decemeber, 2015 as the date on which the provisions of Section 13 & 14 of the  Companies (Amendment) Act,2015 shall come into force.  Section 13 of the  Companies (Amendment) Act,2015 In section 143 of the Companies act, 2013, for sub-section (12), the following sub-section shall be substituted, namely:— “(12) Notwithstanding anything contained in this section, if an auditor of a company in the course of the performance of his duties as auditor, has reason to believe that an offence of fraud involving such amount or amounts as may be prescribed, is being or has been committed in the company by its officers or employees, the auditor shall report the matter to the Central Government within such time and in such manner as may be prescribed: Provided that in case of a fraud involving lesser than the specified amount, the auditor shall report the matter to the audit committee constituted under section 177 or to the Board in other case...

Central government has replaced existing E - form MGT-7 with new E-form by amending t he Companies (Management and Administration) Third Amendment Rules, 2015 via notification dated 16 th November, 2015 . New E- Form MGT-7 http://mca.gov.in/Ministry/pdf/Amendement_Rules_16112015.pdf

Central government has notified Companies (Share Capital and Debentures) Third Amendment Rules, 2015 via notification dated 6 th November, 2015 to amend Rule 18 of Companies (Share Capital and Debentures) Rules, 2014. In rule 18 sub-rule (I), in clause (a), sub-clause (iii) has replaced by the following sub-clauses, namely:- "(iii) Infrastructure Debt Fund Non-Banking Financial Companies' as defined in clause (b) of direction 3 of Infrastructure Debt Fund Non-Banking Financial Companies (Reserve Bank) Directions, 2011; (iv) Companies permitted by a Ministry or Department of the Central   Government or by Reserve Bank of lndia or by the National Housing Bank or by any other statutory authority to issue debentures for a period   exceeding ten   years.'' http://mca.gov.in/Ministry/pdf/Amendement_Rules_06112015.pdf  

SEBI has issued circular no. CIR/CFD/CMD/6/2015 dated October 13, 2015 to provide format of uniform Listing Agreement. The circular provides, a listed entity which has previously entered into agreement(s) with a recognised Stock Exchange(s) to   list   its   securities   shall execute   a   fresh   listing agreement   with   such Stock Exchange within six months of the date of notification of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) i.e. September 2, 2015. Notwithstanding such novation, any action taken or purported to have been done or taken by the Stock Exchanges or SEBI, any enquiry or investigation commenced or showcause notice issued in respect of the existing listing agreement shall be deemed to have been done or taken under the corresponding provisions of the Listing Regulations in force. Currently, the requirement of executing a listing ...