Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk') IPR - As Constitutional Court under Article 215 of Constitution, appropriate orders are warranted to ensure that its directions are not taken in perfunctory or dismissive manner: HC (See 'Legal Desk') Prohibition of Benami Property Transactions Act, 1988 - Mere involvement of cash does not exclude transaction from ambit of benami, particularly where source is undisclosed & transaction is structured to legitimize unaccounted money during demonetization: SAFEMA Tribunal (See 'Legal Desk') PMLA - Mere fact that some allegations in predicate FIR were quashed, or that attached property was allegedly purchased before crime period, did not invalidate attachment if companies were recipients of proceeds of crime: SAFEMA (See 'Legal Desk')

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NRIs to take CP codes for trading in currency derivatives: NSE circular

Published: Jul 17, 2017

By TIOLCORP News Service

NEW DELHI, JULY 17, 2017: THE Securities and Exchange Board of India (SEBI) had last month issued a circular allowing NRIs to participate in Currency Derivatives (CD) Segment. In furtherance of the same, the National Stock Exchange (NSE) has now issued a circular clarifying that the NRIs shall be required to take CP codes through their Clearing Members. The procedure for taking the CP codes shall continue to be the same as currently available for other categories in the segment through the Collateral Interface for Members (CIM). It was also stated that the user Manual for assistance shall be available on CIM.

The CP codes shall be activated only on receipt of valid documents from the Clearing Members and shall be subsequently activated effective from next trading day. Documents received after 12:00PM shall be processed on next working day. NSCCL will reserve the right to cancel any CP code applied on behalf of NRI.

CP codes issued for NRIs shall only be used for the purpose of trading in Currency Derivatives Segment.

The said NSE circular shall be effective from July 24, 2017.

 

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