Success in my Habit

Showing posts with label SEBI. Show all posts
Showing posts with label SEBI. Show all posts

Friday, July 6, 2012

SEBI cuts deadline for transfer of shares to 15 days

Mumbai: The stock market regulator SEBI has reduced the deadline for transfer of equity shares from one month to 15 days.

Henceforth, shares lodged for transfer with registrars will take 15 days for registration from the date of lodgement.

In addition, SEBI has also prescribed 15 days for registering transfer of debt securities. Any delay in transfer that results in an opportunity loss has to be compensated, said SEBI.

This provision has been incorporated in the listing agreement for debt securities.

SEBI has directed all registrars and transfer agents to adhere to these timelines for transfer of shares and debt securities.

In another circular on Thursday, SEBI has revised the norms and format of periodic reporting by registrar and transfer agents (R&T).

In future, R&T agents have to record their observations on deficiencies and non-compliances.

They also have to record corrective measures initiated to avoid such instances (in the future) in their report to SEBI.

Effective September 30, R&T agents are expected to file half yearly reports to SEBI in the revised format.

This report has to be submitted within three months of expiry of the half year.

R&T agents are also expected to report any change in their status or constitution in this report.

Friday, April 20, 2012

SEBI unveils new format for reporting financial results

Mumbai: The SEBI has unveiled a new reporting format for disclosing financial results for companies other than banks.

The new format follows a February notification from the Ministry of Corporate Affairs.

The notification incorporates changes in listing agreement regarding disclosure of interim financial results by listed companies.

Companies have to file their income statement and balance sheet in this format starting FY12.

Companies filing consolidated results have to include details of profit / loss of associates and minority interest. They have to provide separate details on promoter/ promoter group shares pledged.

In their balance sheets, companies now have to provide details of money received against share warrants under shareholder's funds.