Issue of Indian Depository Receipts: Amendments streamline definitions, disclosure, audit and transfer permissions subject to RBI and SEBI conditions.
Amendments refine the IDR rules by redefining Overseas Custodian Bank, deleting and renumbering specified sub rules, removing references to draft or letter of offer, permitting non resident purchase/transfer of IDRs subject to Reserve Bank approval or RBI policy, substituting resident terminology with "holder of IDRs," imposing SEBI specified continuous disclosure obligations on issuing companies, and prescribing auditor or chartered accountant reports on three years' financials plus interim statements with a maximum 120 day gap to issue opening.

Appointment of committee members for National Advisory Committee on Accounting Standards via substitution of specified nominees.
Central Government amends the notification constituting the National Advisory Committee on Accounting Standards by substituting the membership entries for serial numbers (4) and (6) with the President of the Institute of Cost and Works Accountants of India and a Principal Director (Commercial) as the nominee of the Comptroller and Auditor General, thereby altering the committee's composition through an administrative substitution under statutory notification powers.

Specified Public Financial Institution added: India Infrastructure Finance Company Limited classified under the Companies Act notification.
Central Government notification S.O. 143(E) dated 14-1-2009 amends the principal notification under section 4A of the Companies Act, 1956 by inserting India Infrastructure Finance Company Limited as a specified Public Financial Institution, thereby adding the company to the consolidated list of entities recognised under the statutory scheme and updating the schedule of specified institutions.

Public Financial Institution designation adds Kerala State Industrial Development Corporation Limited to the specified institutions list.
The Central Government specifies Kerala State Industrial Development Corporation Limited as a Public Financial Institution by inserting a new entry in the principal Gazette notification, thereby adding the Corporation to the official list of specified institutions under the Companies Act.

Eligibility threshold for company secretary revised, expanding companies that may appoint qualified institute members as whole-time secretaries.
The amendment substitutes the previous "rupees two crores" threshold with five crore rupees in rule 2, omits the second and third provisos to sub rule (3), and inserts sub rule (3A) allowing companies with paid up share capital of two crore rupees or more but less than five crore rupees to appoint a member of the Institute of Company Secretaries of India as a whole time secretary. Companies appointing such a qualified whole time secretary under sub rule (3) or (3A) need not obtain a certificate from a secretary in whole time practice under the Companies (Compliance Certificate) Rules, 2001.