Category: SEBI Notification & Circular

SEBI CIRCULAR FOR Rationalisation process for obtaining PAN by Investors

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SEBI CIRCULAR FOR Rationalisation process for obtaining PAN by Investors. SEBI has issued the Circular for Rationalisation process for obtaining PAN by Investors on January 04, 2013 circular no CIR/MIRSD/16/2011 dated August 22, 2011; MIRSD/SE/Cir-21/2011 dated October 5, 2011 and CIR/MIRSD/11/2012 dated September 05, 2012.

Download SEBI CIRCULAR CIR/MIRSD/01 /2013

 CIR/MIRSD/01 /2013,  January 04, 2013

1.  All Recognized Stock Exchanges

2.  Stock Brokers through Recognized Stock Exchanges

3.  Depository Participants through Depositories

4.  Mutual funds

5.  Association of Mutual Funds in India

6.  Portfolio Managers

7.  KYC Registration Agencies (KRAs)

8.  Alternative Investment Funds (AIFs)

9.  Collective Investment Schemes (CIS)

 Dear Sir,

 Sub: Rationalisation process for obtaining PAN by Investors

 1. Please  refer  to  SEBI  circular  no  CIR/MIRSD/16/2011  dated  August       22,   2011;

MIRSD/SE/Cir-21/2011  dated  October     5,   2011  and  CIR/MIRSD/11/2012  dated

September 05, 2012.

2. With a view to bring about operational flexibility and in order to ease the PAN verification process, the intermediaries may verify the PAN of their clients online at the Income Tax website without insisting on the original PAN card, provided that the client has presented a document for Proof of Identity other than the PAN card.

3. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Yours faithfully,

Deputy General Manager

SEBI CIRCULAR FOR Clarification on Clause 36 of the Equity Listing Agreement

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SEBI CIRCULAR FOR Clarification on Clause 36 of the Equity Listing Agreement

SEBI has issued the Circular for Clarification on Clause 36 of the Equity Listing Agreement on January 3, 2013 It has been brought to our notice that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not disclosed to the stock exchanges.

 Download SEBI CIRCULAR CIR/CFD/DIL/2/2013

CIR/CFD/DIL/2/2013                                                                                      January 3, 2013

To

The Stock Exchanges

Dear Sir/Madam

Sub: Clarification on Clause 36 of the Equity Listing Agreement

 1.        It has been brought to our notice that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not disclosed to the stock exchanges.

 2.        The listed companies are guided by Clause 36 of the Listing Agreement of the stock exchanges which, inter-alia, states that:

“The Issuer will intimate to the Stock Exchanges, where the company is listed immediately of events such as strikes, lock outs, closure on account of power cuts, etc. and all events which will have a bearing on the performance / operations of the company as well as price sensitive information both at the time of occurrence of the event and subsequently after the cessation of the event in order to enable the security holders and the public to appraise the position of the Issuer and to avoid the establishment of a false market in its securities. In addition, the Issuer will furnish to Exchange on request such information concerning the Issuer as the Exchang may reasonably require”.

 3.        It is therefore, reiterated that all the events or material information which will have a bearing on the performance / operations of the company as well as price sensitive information shall be first disseminated to the stock exchanges as required under Clause 36 of the Listing Agreement.

 4.        Stock exchanges are advised to take into account the requirements of this Circular and to bring the same to the notice of the listed companies.

5.        This Circular is issued in in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.

 6.        This Circular is available on SEBI website at  under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully

GeneralManager

SEBI CIRCULAR FOR APPLICATION SUPPORTED BY BLOCKED AMOUNT (ASBA) FACILITY IN PUBLIC/RIGHTS ISSUE

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SEBI CIRCULAR FOR APPLICATION SUPPORTED BY BLOCKED AMOUNT (ASBA) FACILITY IN PUBLIC/RIGHTS ISSUE

SEBI has issued the Circular for Application Supported by Blocked Amount (ASBA) facility in public/ rights issue on January 2, 2013. This has reference to SEBI Circular No. CIR/CFD/DIL/12/2012 dated September 13, 2012, on the captioned subject. It has been reported that some Banks/Merchant Bankers are misinterpreting the aforesaid circular and the applications by banks have been made / accepted using an account held with the applicant bank itself

Download SEBI CIRCULAR CIR/CFD/DIL/1/2013

CIR/CFD/DIL/1/2013                                                                                                                            January 2, 2013

To

All Registered Bankers to an Issue ,All Registered Merchant Bankers

Dear Sir/Madam,

 Sub: Application Supported by Blocked Amount (ASBA) facility in public/ rights  issue

1.   This has reference to SEBI Circular No. CIR/CFD/DIL/12/2012 dated September 13,2012, on the captioned subject. It has been reported that some Banks/Merchant Bankers are misinterpreting the aforesaid circular and the applications by banks have been made / accepted using an account held with the applicant bank itself.

2.   In terms of Para 4 of the aforementioned circular dated September 13, 2012, it is clarified that for making applications by banks on own account using ASBA facility, SCSBs should have a separate account in own name with any other SEBI registered SCSB/s. Such account shall be used solely for the purpose of making application in public issues and clear demarcated funds should be available in such account for ASBA applications.

3.   All other provisions of the aforesaid circulars remain unchanged.

4.   This circular shall be applicable with immediate effect.

5.   This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.

6.   This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully,

Harini Balaji

Deputy General Manager
+91-22-26449372

 

SEBI CIRCULAR FOR DEBT ALLOCATION MECHANISM FOR FII

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SEBI CIRCULAR FOR DEBT ALLOCATION MECHANISM FOR FII

 SEBI has issued the Circular for Debt Allocation Mechanism for FII on January 01, 2013. vide circular CIR/IMD/FIIC/1/2012 dated January 03, 2012 had provided the facility of re-investment of up to two years from the date of the circular or to the extent of twice the size of the debt portfolio, to those FIIs and sub-accounts that had already acquired limits and/or invested in debt in the manner prescribed in the said circular.

Download SEBI CIRCULAR CIR/IMD/FIIC/1/2013

CIR/IMD/FIIC/1/2013
January 01, 2013

 To

 All Foreign Institutional Investors

through their designated Custodians of Securities

Dear Sir/Madam

Sub:  Debt Allocation Mechanism for FII

 1.   SEBI vide circular CIR/IMD/FIIC/1/2012 dated January 03, 2012 had provided the facility of re-investment of up to two years from the date of the circular or to the extent of twice the size of the debt portfolio, to those FIIs and sub-accounts that had already acquired limits and/or invested in debt in the manner prescribed in the said circular. The facility of re-investment period was not allowed for all new allocations of debt limits to FIIs/sub- accounts after the issuance of the said circular.

2.   SEBI vide circular CIR/IMD/FIIC/22/2012 dated November 07, 2012 had stated that beginning January 01, 2014, the FIIs/Sub-Accounts could re-invest during each calendar year to the extent of 50% of their debt holdings at the end of the previous calendar year. It is clarified that from January 01, 2014 onwards, the circular CIR/IMD/FIIC/22/2012 dated November 07, 2012 will be applicable uniformly to all FIIs investing in debt securities irrespective of whether the FII had acquired limits/made investments before January 03,  2012 or not.

3.   In light of the representations received and in order to provide operational flexibility to those FIIs/ sub-accounts which did not hold any debt investment limits as on January 03, 2012 and purchased debt investment limits thereafter, it has been decided that they shall be allowed a cumulative re-investment facility to the extent of 50% of their maximum debt holding at any point of time during the calendar year 2013.

4.   To illustrate, an example is given below:An FII/ Sub-Account “XYZ” did not hold any debt investment limits as on January 03, 2012. It had purchased fresh debt limits on January 07, 2012. The following table gives the particulars of XYZ’s transactions in debt securities:

 Step   Buy  Sell  Current      Maximum    Value of sale Cumulative Value of Holding   holding at    which FII/SA sale by the sale which any point   can make   FII/SA during can be of time    without losing the calendar further during the   its investment    year made bycalendar       limits FII/SA year without losing limit

1                 1000             0           1000             1000                    500                           0                   500

(On Jan 07,

2012)

2                      0         500            500             1000                    500                                500     0

3                 6000             0           6500             6500                   3250                           500               2750

4                 1000             0           7500             7500                   3750                           500               3250

5                      0        3000          4500             7500                   3750                                3500  250

6                   600             0           5100             7500                   3750                             3500           250

7                 5000             0         10100           10100                  5050                           3500             1550

8                      0        1550          8550           10100                  5050                                5050  0

9                   450             0           9000           10100                  5050                             5050           0

10                1100             0         10100           10100                  5050                           5050             0

All figures in INR  cr

5.   From  January        01,  2014,  the  re-investment  facility  as  indicated  in  the  SEBI  circular CIR/IMD/FIIC/22/2012 dated November 07, 2012 would be available during each calendar year to those FIIs which hold debt investments as on December 31 of the previous calendar year.

6.   In respect of those FIIs which do not hold any debt investments as on December 31 of the previous  calendar year, the re-investment facility given at Para 3 of this circular would be available during each calendar year.

7.   It is further clarified that the re-investment facility for those FIIs/ sub-accounts having debt
limit prior to January 03, 2012, will remain available till December 31, 2013 in terms of the SEBI circular dated January 03, 2012.

8.   The re-investment period, i.e. 5 working days for Government Debt and 15 working days for Corporate Debt shall remain the same as per the SEBI Circular CIR/IMD/FIIC/18/2010 dated November 26, 2010.This circular shall come into effect immediately.This circular is issued in exercise of powers conferred under SEBI Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. A copy of this circular is available at the web page “F.I.I.” on our website www sebi gov in. The custodians are requested to bring the contents of this circular to the notice of their FII clients.

Deputy General Manager