January 2017

Review of Mutual Fund Regulations

In a recent board meeting, SEBI has reviewed the SEBI (Mutual Fund) Regulations, 1996. With respect to the advertisement guidelines pertaining to furnishing of information related to the performance of mutual fund schemes, it has been decided that mutual funds shall publish the performance data in terms of compound annual growth rate of previous 1…

SEBI’s Informal Guidance to Kesoram Industries Limited

SEBI issued an informal guidance to Kesoram Industries Limited (Querist) in relation to queries regarding lock-in requirements applicable to Optionally Convertible Redeemable Preference Shares (OCRPS) issued under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The Querist had made a preferential allotment of OCRPS to a non-promoter allottee, which were convertible into equity…

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