Inter-scheme transfer reporting required for mutual funds; transfers must be separately captured and disclosed on authorised platforms.
Mutual funds must report inter-scheme transfers of corporate bonds on authorised trade reporting platforms, with such transfers indicated separately by the funds or their brokers. Authorised exchanges and FIMMDA are to implement systems to capture and display inter-scheme transfers distinctly from OTC and exchange trades, and disseminated information must segregate OTC trades, exchange trades, and mutual fund inter-scheme transfers. Other terms of prior corporate bond reporting circulars remain unchanged.

Updated offer document submission: material changes trigger fee-based or fresh filing obligations depending on affected disclosure sections.
The circular classifies changes to offer documents into those requiring an updated filing with SEBI with payment of a specified fee-covering sections such as Risk Factors, Capital Structure, Issue Size, Management, Promoter Group, Financial Statements and Legal information-and those requiring fresh filing of the draft offer document with full fees where substantive governance, control, object clause, or issue size/deployment changes occur. Other changes must be filed as updates without fees. Merchant bankers must file updates, pay fees where applicable, and await SEBI confirmation before proceeding.

Minimum subscription requirement for IDR issues imposed; refund and interest obligations apply on shortfall or delayed allotment.
Amendments to Chapter VIA align IDR disclosure obligations with the IDR Rules, define "home country," require proportionate allotment, prescribe a minimum subscription regime with refund and interest liabilities for shortfall or delay, mandate a single IDR denomination and disclosure of demat/physical options, impose staged due diligence certification by the lead merchant banker in the format of Schedule VI-B, expand financial statement and audit/reconciliation requirements for three preceding years, and specify the precise applicability of other DIP Guidelines' chapters and schedules to IDR issues.

Portfolio Managers must disclose proposed services, provide a draft client agreement, and follow a specified networth statement format.
SEBI amended registration and renewal requirements for Portfolio Managers to require disclosure of proposed services and submission of a draft client agreement, and prescribed a revised networth statement format listing paid up equity capital; free reserves (excluding revaluation reserves); accumulated losses; deferred expenditure not written off (including miscellaneous expenses); deductions for minimum capital adequacy/networth requirements for other SEBI-regulated activities; and the resulting Networth.

E-payment authorisation enables a bank to collect central excise and service tax through designated focal branches under RBI procedures.
A commercial bank is authorised to collect Central Excise duties and Service Tax via e-payment for all commissionerates without commissionerate-wise restrictions, subject to EASeR procedures and RBI instructions. Designated Receiving and Focal Point Branches must prepare a consolidated daily main scroll of all e-payment challans, maintain prescribed ordering and grouping for e-PAO data entry, submit daily electronic challan files with specified naming conventions, provide monthly major-head-wise statements, remit funds to RBI, CAS, Nagpur through the bank's link cell within the prescribed settlement timeframe, and comply with RBI's collection and remittance instructions including interest liability for delayed remittances.

Inspection period requirement ensures bidders adequate time for inspection and tender preparation before auction process.
Custodians must provide prospective bidders at least four working days for inspection before a tender cum-e-auction and three working days for preparation of tender and bank documents; they must publish the complete list of unclaimed/uncleared goods before auction and certify, when submitting bids for departmental approval, that these prescribed periods were provided.

Service tax on directors' remuneration: payments for board duties are not taxable, separate consultancy fees are.
Remunerations paid by a company to its Managing Directors or Directors, even if labelled as commissions, are not commissions within the scope of Business Auxiliary Service and are not chargeable to service tax. Amounts paid for performance of board or managerial functions are not payments for Management Consultancy Service; however, separately compensated advisory or consultancy services provided by directors are taxable as management consultancy.

Dematerialisation requirement enables shift from trade-for-trade to rolling settlement upon meeting demat threshold and no remaining grounds.
Companies with connectivity to both depositories may be shifted from Trade-for-Trade Settlement to Rolling Settlement if at least half of non-promoter holdings are dematerialised, certified by the RTA or, if no RTA exists, by a practicing Company Secretary or Chartered Accountant, and if there are no other grounds for continuing TFTS; stock exchanges must report actions taken to SEBI in their development reports.

Reconstitution of Regional Advisory Committee updates membership for the specified years and directs trade associations to publicize it.
Reconstitution of the Regional Advisory Committee modifies Trade Notice No. 07/ST/2009 to update committee membership for the financial years 2009-10 and 2010-11, specifying the current officer composition and directing trade associations to widely publicize the change among members and constituents.

Over-dimensional container scanning procedure: alternative CFS delivery and docks examination permitted without separate NOC when scanning infeasible.
Procedure for over dimensional containers selected for scanning permits direct transfer to the CFS with the Gate PO endorsing the EIR as 'ODC-Not Scanned' and presentation of that endorsed EIR to the Container Scanning Division for NOC; if the scanner officer endorses 'NOT SCANNED due to...' at the scanner location or if scanning fails due to malfunction and CSD marks the EIR accordingly, docks officers may examine and clear the container under AC/DC supervision without separate CSD NOC, with any detected misdeclaration to be communicated to the Container Scanning Division.

OLTAS data access granted to designated intelligence directors via secure user accounts with query, export and password-reset procedures.
Controlled OLTAS access is provided to designated Director General intelligence accounts permitting jurisdictional and multiple RCC data access; the same credentials also access ITS. Users must log into the specified secure URL, change the initial password, use TAS OLTAS 31 to run queries by CIN/PAN/TAN, date and amount ranges, scroll results and save data to Excel. Password reset requires a signed written request from the Director General to the systems office, which will issue a system-generated password; frequent password changes and confidentiality are mandated.

Manual assessment orders allowed where system failure risks time-barred tax cases; follow-up electronic update required.
Where server malfunction prevents timely reconciliation of DVAT-51 for the first quarter of 2005-06, ward VATO/AVATO officers are directed to prepare default assessment, demand and penalty orders manually to avoid time-barred cases, then update the computerized system by the specified deadline, with Zonal JCs/DCs ensuring assessments meet the statutory time limits under the Delhi Value Added Tax Act, 2004.

Risk margin cap: combined VaR, extreme loss and mark-to-market on purchases limited to purchase value; exchanges must comply.
Buy-side cash-market transactions must ensure that VaR margins, Extreme Loss margins and mark-to-market losses together do not exceed the purchase value. Sell-side transactions remain subject to the existing practice where VaR and Extreme Loss margins together do not exceed the sale value while mark-to-market losses are levied separately. Exchanges must modify bye-laws, notify members, implement and test software changes, and report implementation status.

Buyer duty to exercise caution when purchasing import licences; failure to verify may attract legal consequences.
A buyer of transferable import licences acquired from the open market bears a duty to exercise due diligence: the purchaser must make enquiries and take requisite precaution before acquiring licences; failure to do so may result in attendant legal consequences. This advisory applies to all licence types bought from the market, including SIL, DEPB, DFIA and DFRC, and directs importers, agents and trade members to verify licences prior to purchase.

Direct supply by intermediate supplier: shipping bill in ultimate exporter's name with ARE 1 verification and endorsement required.
Intermediate suppliers may remove goods to the port without payment of duty under bond for export by the ultimate exporter under Advance Authorization or DFIA; goods must be verified, sealed and ARE-1 countersigned by central excise officers, with ARE-1 recording the ultimate exporter and permission/invalidation details, and the Shipping Bill prepared in the ultimate exporter's name with the intermediate supplier endorsed and references to ARE-1 and permission/invalidation letter.

Self-sealing and self-certification extended to non-excisable agricultural exports, subject to port examination under prescribed norms.
The circular extends the facility of self-sealing and self-certification to non-excisable agricultural exports for removal from factories, subject to port of export examination under prescribed risk based norms; consignments under Free Shipping Bills will not be opened routinely except where intelligence suggests mis declaration or concealment.

PAN requirement for insurance products: insurers must collect PAN for high-premium policies and confirm compliance.
Mandates collection of PAN from purchasers of life insurance products where the contracted annual premium per policy exceeds the high-premium threshold, requiring insurers to obtain and record PAN for such policies with immediate effect and to confirm compliance to the Authority by the prescribed deadline.

Validity extension of public notice continues the earlier customs arrangement until the revised terminal date.
The validity of Public Notice No. 02/2005, earlier extended up to 20.06.2009, is further extended up to 21.01.2010. The notice records the revised terminal date for continued operation of the earlier customs public notice arrangement.

Indian Depository Receipts: framework allows foreign issuers to issue IDRs in rupees subject to FEMA and SEBI conditions.
Foreign companies resident outside India may issue Indian Depository Receipts (IDRs) through a Domestic Depository subject to Companies (Issue of Depository Receipts) Rules, 2004 and SEBI (DIP) Guidelines; IDRs must be denominated in Indian Rupees, proceeds immediately repatriated, automatic fungibility is not permitted, and IDRs cannot be redeemed into underlying equity before one year. Investor participation rules specify FEMA-based conditions for residents, FIIs and NRIs, and redemption/conversion requires compliance with FEMA (Transfer or Issue of Any Foreign Security) Regulations, 2004, including limited holding periods for resident individuals and specified treatment for listed companies and mutual funds.

Prohibition on superior share rights bars issuance of shares conferring superior voting or dividend rights over listed equity.
Listed companies are prohibited from issuing shares that confer on any person superior rights as to voting or dividend compared with rights attached to equity shares already listed; Clause 28A is inserted into the Equity Listing Agreement to record this obligation, stock exchanges must amend their Listing Agreements accordingly and report implementation to SEBI, and the amendment is effective immediately to protect investor interests.