Companies (Central Government’s) General Rules and Forms (Fourth Amendment) Rules, 2009

The Central Government has amended Companies (Central Government’s) General Rules and Forms (Fourth Amendment) Rules, 2009. The amedned has been made in From no. 1, Form no. 5 and Form No. 44. The forms are amended to facilitate online payment of stamp duty.

Amendment to CENVAT Credit Rules, 2004 (Second Amendment)

CBEC has amended CENVAT credit rules, 2004 vide notification no. 22/2009 C.E. (N.T.), dated 07-09-2009. Click the above link for the text of the notification. 

Amendment to Service Tax notification dated the 1st March 2006, G.S.R. 115(E), dated the 1st March, 2006No. 1/2006

The government had amended Service Tax notification dated the 1st March 2006, G.S.R. 115(E), dated the 1st March, 2006No. 1/2006 vide notifiocation no. 34-2009, service tax. Click the above link for the complete text of notification.

Amendments to Equity Listing Agreement

NeelamBhardwaj

GeneralManager

CorporationFinance Department

Phone: +91 22 26449350(D), Email:neelamb@sebi.gov.in

SEBI/CFD/DIL/LA/3/2009/03/09

September 3, 2009

The Managing Director/ Executive Director/ Administrator of all the Stock Exchanges

Dear Sirs,

Sub.: Amendments to Equity Listing Agreement

1. The matters relating to issue of capital and the manner of disclosure of such and other matters incidental thereto have been provided in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (hereinafter referred to as “the ICDR Regulations”). The ICDR Regulations have been notified on August 26, 2009.

2. It has been decided to incorporate the provisions of clause 3.5.3 of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 (since rescinded) in the equity listing agreement, as these provisions pertain to compliance of listing conditions by a listed issuer.

3. Accordingly, it has been decided to amend clause 19 of the equity listing agreement, by inserting a sub-clause after sub-cause (c), as under:

“(d) that in case of a further public offer to be made through the fixed price route, the company shall notify the stock exchange, at least 48 hours in advance, of the proposed meeting of its Board of Directors convened for determination of issue price.”

4. This circular is issued in exercise of powers conferred by sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. This circular is available on SEBI website at http://www.sebi.gov.in/ under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully,

Neelam Bhardwaj

Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 Notification

SEBI/CFD/DIL/ESOP/5/2009/03/09

September 3, 2009

To,

All Registered Merchant Bankers

All Recognised Stock Exchanges

Dear Sirs,

Sub.: Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999

1. The matters relating to issue of capital and the manner of disclosure of such and other matters incidental thereto have been provided in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (hereinafter referred to as “the ICDR Regulations”). The ICDR Regulations have been notified on August 26, 2009.

2. There are certain provisions in the SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 (hereinafter referred to as “the Guidelines”) which are required to be complied with by an unlisted issuer at the time of making an initial public offer. Since these provisions pertain to matters relating to issue of capital, the same have now been incorporated in the ICDR Regulations and consequently, it has been decided to amend the Guidelines to remove these provisions as well as the redundant provisions pertaining to application to Central Listing Authority. The full text of amendments is given in Annexure I.

3. This circular is being issued in exercise of the powers conferred under sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992. This circular and the entire text of the updated Guidelines are available on SEBI website at http://www.sebi.gov.in/ under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully,

Neelam Bhardwaj

Encl.: As above.

ANNEXURE I

Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999

1. Clause 15 shall be omitted.

2. Clause 15.1 shall be omitted.

3. Clause 15.2 shall be omitted.

4. Clause 15.3 shall be omitted.

5. In clause 22.2, for the words and figures “clause 15.3”, occurring after the words “subject to compliance with” and before the words “and, where applicable”, the words “SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009” shall be inserted.

6. In clause 22.3, the words “make application to the Central Listing Authority as per SEBI (Central Listing Authority) Regulations, 2003 and” shall be omitted.

7. Clause 22.4 shall be omitted.

8. Clause 22.5 shall be omitted.

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