Securities and Exchange Board of India (SEBI) has amended the Disclosure and Investor Protection (DIP) Guidelines on 30th April, 2007 with the following salient features: Grading of all Initial Public Offerings (IPO) made mandatory. The grading will be applicable to all IPOs for which draft offer documents are filed with SEBI after April 30, 2007; Existing practices followed by SEBI regarding processing of draft offer documents incorporated in the DIP guidelines; Companies having listing history of one year or more, only to be allowed to make Qualified Institutions Placement(QIP); Companies having listing history of less than six months to be enabled to make preferential allotment, subject to certain conditions; More clarity on provisions relating to minimum promoters’ contribution for the purpose of public issues. All these amendments have been taken care of at appropriate places of the book.
Other important changes : Upto date Guidelines on External Commercial Borrowings and Trade Credits issued by RBI, SEBI Guidelines for Standard Letter of Offer for Buy-back of Securities, Model Listing Agreement for Listing of Debt Securities to be adopted by all stock exchanges, New topics on Allotment of Director's Identification Number under the Companies (Director Identification Number) Rules, 2006 Procedure for obtaining Digital Signature Certificate, filing of Statutory Documents and other transactions by companies in electronic mode under the Companies (Electronic Filing and Authentication of Documents) Rules, 2006 issued in September, 2006 and e-filling under the Scheme for Filing of Statutory Documents and other Transactions by Companies in Electronic Mode issued in October, 2006, changes brought in 2006 by two amendments in Companies (Central Government) General Rules and Forms, 1956 and three amendments made in 2006 in Companies Regulations, 1956 relating to inspection of documents and obtaining certified copies thereof kept in electronic mode have also been taken due care of in the revised edition. Also procedures for Opening of branch of nidhi or mutual benefit society, establising of branch office or a liason office, or setting up of a project office or any other place of business by whatever name called by foreign companies under the FEMA Regulations have been added in the present edition. Topics on Issue of Indian Depository Receipts, Voluantary Delisting, Compulsory Delisting, Delisting persuant to Rights Issue have also been revised upto date.