SEBI
The Securities and Exchange Board of India has cautioned the investors that some unlisted companies are luring retail investors by
issuing securities including non-convertible and convertible
debentures/ non-convertible and convertible preference shares/ equity
shares in the garb of private placement, without complying with the
provisions of Companies Act, 1956 read with the Companies Act, 2013,
SEBI (Issue and Listing of Debt Securities), Regulations, 2008, SEBI
(Issue and Listing of Non Convertible Redeemable Preference Shares),
Regulations, 2013 and SEBI (Issue of capital and Disclosure
Requirements) Regulations, 2009. SEBI has taken action against 233 (as
on March 15, 2016) such entities for issuance of such securities without
complying with the prescribed provisions of law. List of Companies
against whom orders have been passed by SEBI is provided in the said
press release.
RBI
RBI has instructed banks to keep their branches open, which conduct government business. Banks will remain open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of
government accounts as the government expects all government
transactions with banks must be accounted for within the same financial
year. Further, all electronic transactions would, however, continue
till midnight on March 31, 2016.
Thanks & Regards,
Meetesh Shiroya
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