Change in control: prior approval required; CRAs must report specified corporate and management changes in half yearly filings.
Prior approval by credit rating agencies is required only for change in control; other changes no longer need prior approval but must be reported in the half yearly Action Taken Report, including corporate restructuring (amalgamation, demerger, consolidation), change in directors (including managing or whole time directors), and shareholding changes not resulting in change in control; a negative declaration is required if no change occurred.

Prior approval for change in control required; other status or constitution changes reported semiannually to regulator.
SEBI removed the prior-approval requirement for changes in status or constitution of merchant bankers but retained prior approval for change in control. Merchant bankers must report specified events in their half-yearly reports: corporate restructurings (amalgamation, demerger, consolidation), changes in directors including managing/whole-time directors, and shareholding changes not resulting in change of control.

Change of control requirement for underwriters: prior approval retained while other changes require half yearly reporting to regulator.
Amendment removes the general prior approval requirement for underwriters except that prior approval for change in control remains; underwriters must file a half yearly electronic report within 15 days of the half year end reporting amalgamation/demerger/consolidation or similar corporate restructuring, director changes, partnership partner changes not amounting to dissolution, and shareholding changes not causing change in control, using the prescribed email address and subject line, and indicating if no changes occurred.

Prior approval for change in control required; other registrar status changes must be reported quarterly to the regulator.
SEBI removed the requirement for prior approval for changes in status or constitution of RTI/STAs but retained prior approval for change in control. RTI/STAs must report quarterly specified events-corporate restructurings (amalgamation, demerger, consolidation), any change in directors, partner changes not amounting to dissolution, and shareholding changes not resulting in change of control-and must indicate if no change occurred.

Promoter shareholding dematerialization requirement: non-compliant securities to be traded only in trade-for-trade segment as reported to exchanges.
Companies' securities will be admitted to trading in the normal segment only if the company has achieved 100% of promoter and promoter group shareholding in dematerialized form as reported to the stock exchanges; otherwise securities will trade in the trade-for-trade segment, with exchanges required to use the latest shareholding pattern filed under the listing agreement for assessment.

Export allocation rules for cotton: pro rata registration with eligibility tied to prior year export performance and compliance.
Allocation and registration for the additional cotton export quantity is available only to exporters with cotton exports in either of the two preceding cotton years; allocation is on a pro rata basis with a per IEC ceiling of 4,250 MT and a floor of 100 MT, and applicants may seek up to the higher of their prior year exported quantities (subject to the ceiling), with all applications in metric tonnes.

Extension of DEPB Scheme: operative period prolonged, allowing DEPB benefits to continue until 30 September 2011.
The Director General of Foreign Trade amends Para 1.1 of the Handbook of Procedures v1 to replace the phrase limiting the DEPB Scheme to 30th June 2011 with a provision that the DEPB Scheme shall continue to be operative till 30th September 2011, while HBP v.1, HBP v.2 and the Schedule of DEPB rates remain in force until 31st March 2014.

Investor Protection Fund rules amended: fixed claim period, asset return order, and exchange bylaw amendments required.
The Circular fixes a minimum ninety day specified period for inviting legitimate claims, requires exchanges to bear eligible claims arising within three years of that period without recourse to IPF/CPF, allows post three year claims to be treated as civil disputes, and permits retention of residual amounts while litigation is pending. It deletes Clause 22, confirms IPF/CPF disbursement only where broker assets are insufficient, and mandates that realized assets be returned to the defaulter only after satisfying claims of the exchange, SEBI, and, for multi exchange brokers, other exchanges; exchanges must amend bye laws, notify members, and report implementation.

Change of company name compliance now allows revenue or substantial asset investment test, with auditor certificate required.
The prior revenue-based test for change of name is supplemented by an alternative asset-investment test: companies may comply either by showing the new activity accounted for a majority of prior year revenue or by demonstrating that investment in the new activity (fixed assets + advances to contractors/suppliers specific to the project + works-in-progress) equals at least half of company assets; compliance must be supported by an auditor's certificate submitted to the exchange.

Re-export procedure waives internal MOT charges and allows export-shed officers to escort goods within the same CFS.
Where a shipping bill for re-export is marked to the AC/DC (Export Docks), that officer will deputize a Preventive Officer posted in the export shed to escort goods from the import shed or bonded area to the export shed within the same CFS, and internal MOT charges for such intra-CFS movement are waived. If goods were already examined by Import group/docks and shifted under PO supervision, no further physical examination is required at re-export. The procedure is effective immediately and implementation issues should be reported to the Commissioner.

Disposal of unserviceable packing material: clearance allowed after AC/DC Docks permission, Preventive Officer supervision and gate endorsement.
Clearance of unclaimed or abandoned packing materials from CFSs may be allowed without additional duty as their value is included in assessable value. CFSs must apply to AC/DC Docks (Exports), which will verify the materials as unserviceable, grant permission, and assign a Preventive Officer to supervise loading. The Preventive Officer must endorse "Loaded under my supervision" and the gate Preventive Officer must verify that endorsement and record the vehicle number to allow movement.

Line of Credit conditions require predominantly Indian-sourced exports for Ethiopia, specified disbursement timelines and FEMA compliance.
Exim Bank made a Line of Credit available to Ethiopia to finance eligible Indian goods and services for sugar-industry development, requiring predominant Indian supply content with limited foreign procurement permitted; the agreement prescribes specific windows for opening Letters of Credit and disbursement for project and supply contracts, mandates GR/SDF shipment reporting, prohibits agency commission under the LOC while permitting exporter-funded commission subject to realisation and rules, and directs Authorised Dealer Category-I banks to notify exporters and facilitate compliance, pursuant to FEMA directions.

Standardisation of rating symbols requires CRAs to adopt uniform definitions and disclose changes to investors and on websites.
Standardisation of rating symbols and definitions is mandated for CRAs across six categories of debt-related instruments; CRAs must adopt the prescribed symbols and definitions for new ratings, prefix symbols with the CRA name, and for existing ratings publish the new symbols on their websites, update rating lists, and inform clients that symbol changes do not constitute rating changes. Modifiers for comparative standing are prescribed and CRAs must report implementation status to the regulator and place compliance before their Boards.

Reporting of Offshore Derivative Instruments requires phased implementation with monthly summary deadlines and delayed transaction wise uploads.
ODI and PN reporting must use notional valuation and may split partially hedged instruments into separate rows identifying linked Indian securities and any unhedged portion. Issuers must link hedges where possible; FII to FII subscriptions must include the subscriber FII registration number. The end beneficial owner column must state the country. Monthly summaries will transition to the new format at the prescribed implementation point, detailed transaction annexures covering outstanding positions as of the cut off must be uploaded in the subsequent cycle with thereafter six month lag, and existing formats remain until implementation.

Steamer Agent Registration requires remote ICEGATE filing of manifests; noncompliance risks cancellation or denial of renewal.
Registration and renewal of Steamer Agents require specified documentary, financial and operational prerequisites, a bank security deposit and bond, and a declaration of adequate manpower and computer facilities; applicants must perform remote filing via ICEGATE from their own offices. New registration lasts one year subject to minimum foreign run vessel and container handling norms, with a possible one year extension to meet norms; failure results in cancellation. Renewals span three years and require validation of original documents and meeting vessel-handling thresholds. IGMs and EGMs must be filed through ICEGATE within prescribed timeframes, hard copies delivered to customs, and penalties apply for noncompliance.

4% additional customs duty refunds require Form 102, CA certification, and VAT/CST correlation for claims to be processed.
Claimants must file Custom Series Form 102 in duplicate with a numbered checklist and receive a simple receipt evidencing filing date; complete claims get acknowledgement while deficient claims receive a deficiency memo and must be remedied within ten days. Required documents include original Bills of Entry/TR-6 challans or scrip debit entries, authenticated sales invoices, and proof of VAT/CST payment correlated to sales. Sales via consignment agents require an agency agreement and CA certification. A Chartered Accountant (statutory or authorised VAT/IT auditor) must verify records and certify that the 4% duty burden was not passed on, providing detailed correlation sheets; vague certifications are unacceptable and may attract action.

Line of credit conditions require majority Indian sourcing and specified reporting, with commission rules and FEMA authority.
Exim Bank provided a Line of Credit to Tanzania to finance eligible goods and consultancy services from India, requiring at least 75% of the contract price to be supplied from India while allowing up to 25% of non consultancy goods to be procured abroad. The Credit Agreement prescribes specific windows for opening letters of credit and disbursement, mandates GR/SDF reporting of shipments, disallows agency commission under the LoC (subject to exporter self funding or EEFC remittances after realization), and directs Authorised Dealer Category I banks to notify exporters; directions are issued under FEMA powers.

Excess Input Tax Credit election: dealers must choose refund or carry forward in prescribed VAT return columns.
Dealers reporting excess Input Tax Credit in Form DVAT 16 must elect either to claim the amount as a refund in column R9.2 or to carry it forward in column R9.3; bifurcation between refund and carry forward is not permissible. Assessing authorities are directed to process refund claims and returns in accordance with the DVAT Act, 2004 and DVAT Rules, 2005, ensuring the dealer's single election is respected.

Factory stuffing NOC requirement: exporters must secure excise NOC and verification before seeking factory stuffing permission.
Exporters must obtain a signed NOC and an original verification report from the jurisdictional Assistant/Deputy Commissioner of Central Excise before applying for Factory Stuffing Permission; the authority must issue the NOC or communicate inability within three working days. After obtaining NOC and Customs Factory Stuffing Permission, exporters must request officer allocation from the Technical Section at least forty eight hours in advance; requests are acknowledged, processed FIFO, and confirmed officers require advance payment of Merchant Overtime Fee with challan submission. Deputed officers act as customs officers and must submit signed export documents, samples, and completed examination reports to the jurisdictional range office.

Customs duty exemption certification: DG NACO's signature suffices as both implementing authority and line ministry authorization.
Clarifies that for claiming the customs duty exemption under the proviso to Notification No. 84/97 Cus., a certificate signed by the Director General, NACO, where that office is concurrently held by the Secretary, Department of AIDS Control, will be treated as satisfying both the Project Implementing Authority and line Ministry certification requirements, obviating the need for a separate counter signature from the Department of AIDS Control until a separate Director General is appointed.