SEBI
Securities
Exchange Board of India in its order dated February 4, 2016 in the
matter of trading in the shares of Palred Technologies Limited has
mandated that Facebook Friends may also be treated as Connected Persons for the purpose of Insider Trading.
In the said order, SEBI adjudged Facebook profile as one of the other
factors for establishing connection between parties for determining
insider trading. This
seems to be the first instance where the regulator used Facebook as one
of the evidence for establishing ‘connection’ under Insider Trading
Regulations.
DVAT
Department of Trade & Taxes has directed courier entities in Delhi to file quarterly return in CR-II for F.Y.2015-16 by May 16, 2016. This notification shall come into force with immediate effect. Form CR-II is an online quarterly return required to be filed by courier companies functioning in Delhi containing
details of transactions of delivering goods having value more than
Rupees Ten Thousand at the doorsteps of their clients either
individually or at the business places or offices.
Thanks & Regards,
Meetesh Shiroya
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