MCA
Ministry of Corporate Affairs has notified The Companies (Registration Offices and Fees) Amendment Rules, 2016. The Ministry has amended Forms GNL-1 and GNL-4 which shall be compatible with
the latest V2 platform designed by the MCA. Stakeholders are
advised to check the latest version of the Forms before filing / uploading the
same. The said amendment shall come into force from the date of their
publication in the Official Gazette.
DIPP - FDI
Department
of Industrial Policy and Promotion (DIPP), has liberalized its FDI
policy relating to Asset Reconstruction Companies (ARC). RBI has now
permitted a person Resident Outside India to invest up to 100% in an ARC
registered with Reserve Bank of India through Automatic Route. Investment limit
of a sponsor will be governed by the provisions of Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest Act,
(SARFAESI ACT), 2002. RBI has also allowed total shareholding of an individual
FII/FPI to be below 10% of the paid-up capital. Further FIIs/FPIs are now
allowed to invest in the Security receipts (SRs) issued by ARCs registered with
Reserve Bank of India. The Press Note will come to effect from 12.05.2016.
Thanks & Regards,
Meetesh Shiroya
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