Page 65 - Corporate_Professional_Today

Weekly reVieW
CIRCULAR NO. CFD/DIL/3/CIR/2018/2,
DATED 3-1-2018
In order to expedite the processing of draft
schemes and to prevent misuse of schemes
to by pass regulatory requirements, SEBI
has decided to make certain amendments
to framework for schemes of arrangement
in listed entities.
President gives his assent to Compa-
nies (Amendment), Bill 2017
ACT NO. 1/2017, DATED 3-1-2018
The President has given his assent to the
Companies Amendment Bill, 2017 on Jan 3,
2018. Changes shall come into force from the
date to be notified by the MCA. Through
this Amendment Act, 2017 various provisions
relating to private placements, Appointment
of auditors, loan and guarantee, managerial
remuneration, board report, maintenance of
registered office, annual return under the
Companies Act, 2013 have been amended.
SEBI directs Clearing Corporation to
monitor intra-day crystallized losses
CIRCULAR NO.CIR/MRD/DRMNP/008/2018,
DATED 8-1-2018
In order to mitigate risk arising out of
accumulation of crystallized obligations incurred
on account of intra-day squaring off positions,
SEBI has asked Clearing Corporation to
monitor intra-day losses on real time basis
for transactions which are subject to upfront
margin and if crystallized losses exceed the
172 January 20 To January 26, 2018 u Taxmann’s Corporate Professionals Today u Vol. 41 u 66
free collateral available with the Clearing
Corporation, then the entity shall be put into
risk reduction mode. SEBI has also decided
that crystallized losses shall be calculated
based on the weighted average price of
trades executed. SEBI has also decided that
adjustment of intra-day crystallized losses
shall not be done from exposure free liquid
net worth of the clearing member.
SEBI issues norms for benchmarking
of a scheme’s performance
CIRCULAR NO.SEBI/HO/IMD/DF3/
CIRP/2018/04, DATED 4-1-2018
With an objective to enable the investors to
compare the performance of a scheme, SEBI
has issued norms for benchmarking. Now,
the performance of the schemes of mutual
funds shall be benchmarked to the total
return variant of the index.
SEBI has increased transaction
charges on commodity derivative
exchanges
CIRCULAR NO. SEBI/HO/CDMRD/DMP/
CIR/P/2018/1, DATED 3-1-2018
In consultation with exchanges, the SEBI has
directed all exchanges to ensure that the
ratio between highest to lowest transaction
charges in the turnover slab of any contract
is not more than 2:1
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