Covid19: Regulatory Updates
The Government of India and various other departments & regulators have issued various relaxation in the regulatory framework on account of the Covid-19 pandemic. This page is a repository of all such updates. If you know any update, which is missing , kindly mail the same to ankit@indiacp.com
Wednesday, December 23, 2020
Commencement of various provisions of the Companies (Amendment) Act, 2020
MCA has enforced the following provisions of the Companies (Amendment) Act, 2020 w.e.f. 21st December, 2020: Section no. of the Companies (Amendment) Act, 2020 Corresponding section of the Companies Act, 2013 Amendments Amendments related to ‘Winding Up’ Section 46 Section...
Monday, December 23, 2024
India unveils Green Steel Taxonomy
On December 12, 2024, Shri H.D. Kumaraswamy, Union Minister of Steel & Heavy Industries, unveiled India's Green Steel Taxonomy The Green Steel Taxonomy aims to align India’s steel production with its net-zero emissions target by 2070. This initiative is part...
Saturday, December 19, 2020
MCA Relaxes Online Test Requirement for Independent Directors
Relaxations in the online proficiency self-assessment test for Independent Directors In a major relief to Independent Directors, MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 to provide various relaxation with respect to the requirement to undergoing...
Monday, December 19, 2022
Buybacks may soon be taxable in the hands of the shareholders
The Capital Markets Regulator, SEBI, vide its Consultation Paper dated November 16, 2022 has proposed many changes in the Buyback Regulations. Some of the proposals are relaxing in nature, while some may have stringent implications. One of the most critical...
Tuesday, November 24, 2020
First time levy of fines for violations of Listed Debt Securities under Listing Regulations, 2015
The Securities and Exchange Board of India, vide circular dated November 13, 2020, has introduced a fine and penalty structure for non-compliances with continuous disclosure requirements by issuers of debt instruments. On January 22, 2020, SEBI issued a uniform structure...
Monday, November 22, 2021
SEBI tightens the norms for M&A transactions
BACKGROUND Before the year 2013, all the listed Companies proposing to enter into any kind of Scheme of Arrangement were required to obtain prior approval of the concerned Stock Exchange(s) only. However, this scenario was changed when SEBI came up...
Thursday, November 18, 2021
FAQs on SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
SEBI had notified the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (“SEBI (SBEB & SE) Regulations”) in place of erstwhile Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014...
Thursday, November 14, 2024
SEBI Circulars for REITs and InvITs dated November 13, 2024
Securities and Exchange Board of India (SEBI) has issued circulars for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) on November 13, 2024, effective immediately, outlining the following amendments: The following lock-in and eligibility restrictions, applicable in case...
Thursday, November 11, 2021
LODR Update: Amendments in provisions pertaining to Related Party Transactions
The Capital Market Regulator, vide notification in Official Gazette dated November 09, 2021, has notified Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2021 which shall come into force with effect from April 01,...
Monday, November 11, 2024
SEBI Consultation paper on creating Ease of Business opportunities for ERPs
SEBI has released a Consultation Paper on October 31st ,2024 for ESG ratings providers (ERPs). Since launching the framework in July 2023, SEBI has registered 15 ERPs, potentially the highest among major geographies. The consultation papers seek to lay out...
Wednesday, November 04, 2020
The Securities and Exchange Board of India (SEBI) has issued a circular dated November 03, 2020 (Ref: SEBI/HO/CFD/DIL1/CIR/P/2020/215) (2020 Amendment Circular), amending certain provisions of the SEBI Circular dated March10, 2017 (Ref: CFD/DIL3/CIR/2017/21) which laid down detailed guidelines and procedures...
Thursday, October 24, 2024
Supreme Court sets Guidelines for Withdrawal and Settlement of Insolvency Cases
Hon'ble Supreme Court in GLAS Trust Company LLC vs BYJU Raveendran & Ors. (Civil Appeal No. 9986 of 2024) sets Guidelines for Withdrawal and Settlement in Insolvency Cases In this landmark decision, Hon’ble Supreme Court covers following issues: Nature of...
Thursday, October 14, 2021
LODR Update: Revised format of Financial Results for Listed Non-Convertible securities
[Dated Oct 05, 2021] Background: SEBI vide amendment dtd. Sept 07, 2021 mandated entities that have listed non-convertible securities to disclose financial results on a quarterly basis against the erstwhile requirement of half-yearly basis. In this regard, SEBI on Oct...
Friday, October 07, 2022
Is your website in compliance with SEBI listing regulations?
NSE and BSE issued advisory to listed companies to disclose the content on their websites in line with Regulation 46/62 of SEBI Listing Regulation. Also, NSE released a new module on its NEAPS portal for disclosure made on the website...
Monday, October 07, 2024
IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024
The Insolvency and Bankruptcy Board of India (IBBI/Board) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024 (Amendment Regulations) on 24th September, 2024. 2. The Amendment Regulations provides for the appointment...
Monday, October 07, 2024
Eco Mark Certification Rules 24
Eco Mark Certification Rules, 2024 have come into force from 26th September 24’ notified by Ministry of Environment Forest and Climate Change. The Ministry of Environment, Forest, and Climate Change of the Government of India has taken a significant step...
Thursday, October 01, 2020
Analysis of the Companies (Amendment) Act, 2020
In view of constant endeavor of the Government to facilitate greater ease of living to law abiding corporates, a Company Law Committee (CLC) consisting of representatives from Ministry of Corporate Affairs, industry chambers, professional institutes and legal fraternity was constituted...
Wednesday, September 30, 2020
Various reliefs in timelines by MCA due to COVID-19 pandemic
Companies may hold EGM through Video Conference (VC) or other audio-visual means (OAVM) up to 31st December, 2020 In view of the current pandemic situation caused by COVID-19, MCA has allowed companies to conduct their EGMs through VC or OAVM...
Thursday, September 29, 2022
BSE Ltd. (‘BSE’) and National Stock Exchange of India Ltd. (‘NSE’) have issued revised Standard Operating Procedures (‘SOPs’) to be followed by listed entities in respect of filing of draft Scheme of Arrangement (‘Scheme’) with the stock exchanges under Regulation...
Saturday, September 26, 2020
Rights Issue: SEBI rationalizes Eligibility criteria and Disclosure requirements
The Capital Markets Regulator, with an objective to make the fund raising through Rights Issue route easier, faster and cost effective has decided to come out with the following amendments in SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018:...
Friday, September 20, 2024
Overview of Amendments in the SEBI (NCS) Regulations, 2021
The Securities and Exchange Board of India (“SEBI”) has amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (“NCS Regulations”) on September 17, 2024, inter-alia, including the following amendments: Reduction of time period...
Monday, September 16, 2024
New Compounding Regime under FEMA
Overview Section 15 of the Foreign Exchange Management Act, 1999 (“FEMA”) read with Foreign Exchange (Compounding Proceedings) Rules, 2000 deals with regulatory framework concerning compounding of contravention. Now, the Ministry of Finance has vide notification no G.S.R. 566 (E). dated 12/09/2024...
Wednesday, September 11, 2024
MCA has amended the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, to provide the following amendments: 1. A legal heir certificate issued by a Tahsildar or higher authority may be obtained, in place of succession certificate, probate of...
Wednesday, September 11, 2024
Key Amendments to Cross-Border Mergers and Amalgamations Rules
MCA has amended the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 to provide significant development for cross-border mergers and amalgamations between transferor foreign company incorporated outside India (as a holding entity) and a transferee Indian company (its wholly owned subsidiary)....
Thursday, September 10, 2020
The Securities and Exchange Board of India (“SEBI”) on Wednesday, September 09, 2020 decided to extended the ambit of system driven disclosures, which were first introduced in December 2015, for members of Promoter Group and Designated Person(s) of a listed...
Tuesday, August 25, 2020
MCA amends CSR Policy Rules and Schedule VII
MCA vide two Notifications dated 24th August, 2020 has amended the Companies (CSR Policy) Rules, 2014 and Schedule VII of the Companies Act, 2013 to provide for the following amendments: (a) A company which, in its normal course of business,...
Wednesday, August 21, 2024
Updates to Foreign Direct Investment (FDI) Framework
Updates to Foreign Direct Investment (FDI) Framework With the purpose to streamline and clarify the regulatory framework governing Foreign Direct Investment (FDI) in India, the Department of Economic Affairs (DEA), Ministry of Finance, has promulgated an amendment to the extant...
Friday, August 20, 2021
More relaxations for Independent Directors from online proficiency self-assessment test
MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 to provide the following new exemptions from online proficiency self-assessment test: a) Individuals, who are or have been, for at least 10 years as an advocate of a...
Tuesday, August 13, 2024
Registrar, Central Registration Centre designated as Authority for registration of Foreign Company
MCA has amended the Companies (Registration of Foreign Companies) Rules, 2014 to designate the Registrar, Central Registration Centre as the authority for the registration of foreign companies w.e.f 09th September, 2024. Click here to view Rules
Tuesday, August 06, 2024
MCA Implements e-Adjudication Platform for Penalty Adjudication
MCA has amended the Companies (Adjudication of Penalties) Rules, 2014 to implement the e-Adjudication platform for adjudicating penalties by the Registrar in the following manner: • From 16th September 2024, all proceedings (including the issuance of notices, filing of replies...
Tuesday, August 06, 2024
Centre for Processing Accelerated Corporate Exit (C-PACE) designated as Authority for LLP Strike-Off
MCA has amended the LLP Rules, 2009 to designate the Centre for Processing Accelerated Corporate Exit (C-PACE) as authority for striking off LLPs w.e.f 27th August, 2024. Click here to view Rules
Wednesday, July 29, 2020
SEBI’s First Settlement Scheme- Illiquid Stock Option Matters
In December, 2018 SEBI came out with SEBI (Settlement Proceedings) Regulations 2018. These Regulations also provided for the new provision of “Settlement Scheme” wherein SEBI was given the power to specify specific terms and procedures of settlement of specified proceedings...
Monday, July 20, 2020
SEBI (PIT) Amendment Regulations, 2020
SEBI at its Board Meeting held on 25 June 2020, had approved several significant changes to regulations governing listed companies including the SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regulations’). Accordingly, amendments in the PIT Regulations have now been...
Wednesday, July 17, 2024
MCA has amended the Specified Companies (Furnishing of information about payment to MSME suppliers) Order, 2019 adding a proviso in paragraph 3 to provide that only specified companies with payments pending for more than 45 days to micro or small...
Wednesday, July 17, 2024
Update Personal Mobile Number or Email Address after DIN KYC Done
MCA has amended the Appointment and Qualification of Directors Rules to provide that if an individual intends to update his personal mobile number or email address again at any time during the financial year after DIN KYC is done, he...
Wednesday, July 17, 2024
‘NIDHI’ word not required at Incorporation of Nidhi Companies
MCA has amended the Incorporation Rules to omit the requirement of adding the word ‘NIDHI’ at the time of incorporating a Nidhi Company. Now, the word “NIDHI LIMITED” is not to be considered until the MCA approves the company through...
Wednesday, July 15, 2020
MCA vide Circular No. 16/2019 dated 28th November, 2019 had stated that the time limit for filing Form PAS-6 (Half-yearly Reconciliation of Share Capital Audit Report) without additional fees for the half-year ended on 30th September, 2019 will be 60...
Friday, June 28, 2024
AMENDMENTS TO TRADING PLAN: ENHANCED FLEXIBILITY FOR PERPETUAL INSIDERS
Insider Trading i.e. trading when in possession of Unpublished Price Sensitive Information (“UPSI”) is prohibited in India under SEBI (Prohibition of Insider Trading) (PIT) Regulations, 2015. However, there are certain Insiders like senior management personnel, KMP etc. who are perpetually...
Wednesday, June 24, 2020
Various relaxations in Company Law due to Covid-19
MCA allows board meeting to be held via video conference on restricted matters for further 3 months: In view of the current pandemic situation caused by COVID-19, MCA has further relaxed the requirement of holding Board meetings with physical presence...
Thursday, June 18, 2020
The Coronavirus Pandemic has leapfrogged all the historic pandemics & crisis and has put the whole economic ecosystem to a halt, having a long-lasting impact on the businesses across the Globe. While lock-down may be a preventive measure for health...
Wednesday, June 17, 2020
Generally, the following timeline is applicable for filing the charge creation/ modification forms: S. No. Timeline Small Companies and OPC Other than Small Companies and OPC 1. Up to 30 days Normal fees Normal fees 2. More than 30 days...
Saturday, June 06, 2020
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020
The nationwide lockdown being in force since 25th March 2020 has certainly disrupted the several business operations. To prevent the financially stressed companies being dragged into the corporate insolvency resolution process on account of unprecedented situation and difficulty to find...
Friday, May 24, 2024
Understanding SEBI (LODR) Amendment, 2024: Key Changes Unveiled.
Before the amendment in SEBI (Listing Obligations and Disclosure Requirements) Regulations, its provisions provided a broad framework for their applicability to listed entities, considering various designated securities on recognized stock exchanges. However, a recent amendment dated 17th May 2024 has...
Monday, May 11, 2020
SEBI vide its Circular dated 06th May, 2020 (“SEBI Circular”) has allowed listed entities to dispatch letter of offer for rights issue to its shareholders through electronic mode only due to ongoing situation arising out of COVID-19 pandemic. On the...
Thursday, May 09, 2024
MCA has introduced Form LLP BEN-2, which is used to file a return to the Registrar regarding the declaration of significant beneficial ownership (SBO), and LLP Form 4D, which is for the declaration of beneficial interest in contributions received by...
Wednesday, May 06, 2020
SEBI Update: Procedural and Listing relaxation for Rights Issue amid Covid
The Capital Market Regulator vide its circular dated May 06, 2020 has granted relaxations relating to procedural matters Issues and Listing for rights issue opening upto July 31, 2020. The same are as follows: Service of the abridged letter of...
Thursday, May 06, 2021
Dear Friends, Warm greetings from Corporate Professionals! As a part of our knowledge sharing initiatives, we conducted two webinars on Q & A on Interpretation & Implementation of SEBI (Prohibition of Insider Trading) Regulations, 2015 (“SEBI Regulations”) in the months...
Thursday, April 30, 2020
NSE Update: Extension in timeline towards payment of Annual Listing Fees for FY 20-21
NSE vide circular bearing ref. no. 09/2020 extended the due date of payment for the Annual Listing Fees for FY 20-21 from April 30, 2020 to June 30, 2020 in wake of COVID 19 Pandemic.
Wednesday, April 29, 2020
Last date for registration of Independent Director’s extended
MCA has extended the last date to register for existing Independent Director’s with the data bank by upto 30th June, 2020. Previously it was 30th April, 2020. Click here to view Notification: http://www.mca.gov.in/Ministry/pdf/Rules_29042020.pdf
Tuesday, April 27, 2021
Rights Issue Update: SEBI Covid Relaxation 2.0
With the hitting hard by second wave of Covid 19 virus in the current year 2021 and enforcement of lockdown measures by governments of most of states and situation becoming worse nationwide, the Capital Market Regulator, SEBI, vide circular dated...
Thursday, April 25, 2024
SEBI’s Standardized Reporting Format for PPM Audit Reports: Streamlining Compliance in AIFs
Private Placement Memorandum (PPM) is the primary document in which all the material information about the AIF is disclosed to the prospective investors for the purpose of raising funds through private placement by such AIF’s. Such PPM is also filed...
Friday, April 24, 2020
SEBI Relaxation in holding AGM comes to rescue top 100 listed entities having FY Jan-Dec 2019
In line with relaxation provided by MCA, now SEBI vide its circular dated April 23, 2020 has granted extension of 4 months for holding of AGM, to top 100 listed companies whose financial year is ending on December 31, 2020...
Thursday, April 23, 2020
MCA Relaxes Timelines for Reserved Company/LLP Names
Generally, the Registrar reserves the name for company under incorporation for a period of 20 days and in case of change in name of company the Registrar reserve the new name for 60 days. Apart of this, in case of...
Tuesday, April 21, 2020
Relaxation in holding of AGMs by companies whose financial year ended on 31st December, 2019
MCA has clarified that if the companies whose financial year (other than first financial year) has ended on 31st December, 2019, can hold their AGM for such financial year within a period of 9 months from the closure of the...
Saturday, April 18, 2020
Foreign investment from Neighbouring Countries including China will require government approval
In order to secure the opportunities takeover of Indian companies in the current situation arising out of COVID-19, the Government of India has revised the eligibility of foreign investors, with respect to foreign investment, vide a press note dated 17th...
Friday, April 17, 2020
SEBI UPDATE: Additional Relaxations for compliance with LODR, dated April 17, 2020
Curbing out the practical difficulties faced by the listed entities while making compliance due to the COVID-19 pandemic, SEBI vide its circular dated April 17, 2020 has come up with further relaxations and clarifications regarding provisions of the LODR. The...
Tuesday, April 14, 2020
Extension of Submission Date of Share Capital Audit Report for the quarter ended March 31, 2020
NSE,BSE, MSEI vide their respective letters to the listed companies in line with SEBI circular dated April 13, 2020, have extended the timeline provided in Reg 76 of SEBI (D&P) Regulations, 2018 w.r.t., filing of Share Capital Audit Report on...
Tuesday, April 14, 2020
SAT extends closure of the Tribunal till May 03, 2020
In light of extension of the lockdown period till May 03, 2020. The Securities Appellate Tribunal ('SAT') vide its notification dated April 14, 2020 has extended its closure till May 03, 2020. The registry of the SAT would re-open on...
Monday, April 13, 2020
Due to COVID-19 pandemic, MCA vide its Circular dated 08th April, 2020, has issued procedural guidelines in respect of conduct of extra ordinary general meetings through video conferencing (VC) or other audio-visual means (OAVM) on or before 30th September, 2020....
Monday, April 13, 2020
MCA clarification on filings under sections 124 & 125 and rules made thereunder
In Companies Act, 2013, there are procedures related to transfer of money remaining unpaid or unclaimed for a period of 7 years and transfer of shares under section 124 read with the IEPFA (Accounting, Transfer and Refund) Rules. As we...
Sunday, April 12, 2020
FAQs on CSR: Brings mixed feeling for Indian Inc.
Ministry of Corporate Affairs (MCA) has vide General Circular No. 15/2020 dated April 10, 2020issued a series of FAQs on Corporate Social Responsibility (CSR) specifically in context of spending of CSR on COVID-19 related activities , wherein on one hand...
Thursday, April 09, 2020
Due to COVID-19 pandemic, MCA vide its Circular dated 08th April, 2020, has issued procedural guidelines in respect of conduct of extra ordinary general meetings through video conferencing (VC) or other audio visual means (OAVM) on or before 30th September,...
Saturday, April 04, 2020
Due to the COVID-19 outbreak and lockdown situation prevailing in the Country, various provisions of the Companies Act, 2013 and rules made thereunder have already been relaxed by the Ministry of Corporate Affairs (MCA) for ease of compliance by the...
Wednesday, April 01, 2020
RBI relaxes export of goods and services provisions
Comprehending the need for relaxing the provisions of foreign trade due to outbreak of Covid-19 all over the world, RBI has relaxed the provisions for realization and repatriation of export proceeds from 9 months to 15 months from the date...
Tuesday, March 31, 2020
MCA introduces Companies Fresh Start Scheme, 2020 (CFSS-2020)
In line with its circular dated March 24, 2020, MCA has introduced Companies Fresh Start Scheme, 2020 (“Scheme”) vide circular no 12/2020 dated March 3, 2020 under Section 460 of the Companies Act, 2013 (“Act”) read with Section 403. The...
Tuesday, March 31, 2020
Insolvency Appeals – Amid Covid 19
Period of Lock down to be excluded in counting the time limit for CIRP. Interim/Stay Orders to continue till next date of hearing. In view of the lockdown due to COVID 19, Hon’ble National Company Law Appellate Tribunal (“NCLAT”) by...
Tuesday, March 31, 2020
Company Appeals – Amid Covid 19
Interim/Stay Orders to continue till next date of hearing. In view of the lockdown due to COVID 19, Hon’ble National Company Law Appellate Tribunal (“NCLAT”) by exercising its power conferred under Rule 11 of NCLAT Rules, 2016 suo moto has...
Monday, March 30, 2020
The Central Government (Ministry of Finance) vide its notification dated March 30, 2020 has deferred the effective date of amendments in Indian Stamp Act, 1899 to July 01, 2020 which was due to be effective from April 01, 2020. Consequently,...
Monday, March 30, 2020
NCLT extends closure of its benches till April 14, 2020
National Company Law Tribunal (“NCLT”) vide its notification dated 28.03.20020 has extended time period for closure of all NCLT Benches as directed by NCLT in its erstwhile notification dated 22.03.2020 in view of the lockdown proposed by several State Government...
Monday, March 30, 2020
Relaxation in Compliance Time Period with Certain SEBI(D&P) Regulation 2018 Due to Covid-19 Pandemic
CDSL relaxes timelines for compliances by Depository Participant Central Depository Services Limited vide its Communique No. CDSL/A,I&C/DP/POLCY/2020/164 dated March 30, 2020 granted relaxation for certain compliances of SEBI (Depositories & Participants) Regulations, 2018 and the Depository Participants are advised to note that the...
Monday, March 30, 2020
SEBI vide Circular dated 08th November, 2019, the timeline for implementation of Phase II of UPI ASBA was extended till 31st March, 2020. Now due to COVID-19 pandemic, SEBI vide Circular dated 30th March, 2020 has decided to continue with...
Monday, March 30, 2020
SAT extends closure of the Tribunal till April 14, 2020
In light of the government notification for lockdown dated March 24, 2020 for COVID-19 outbreak, the Securities Appellate Tribunal ('SAT') vide its notification dated March 30, 2020 has extended its closure till April 14, 2020. The registry of the SAT...
Monday, March 30, 2020
SEBI relaxes regulatory filing deadlines and other filings for Portfolio Managers
SEBI has deferred the reporting requirements for Portfolio Managers for the following by 2 months: Monthly reporting to SEBI by Portfolio Managers for the periods ending March 31, 2020 and April 30, 2020. Applicability of SEBI Circular SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February...
Monday, March 30, 2020
Further, SEBI has also extended the due date for regulatory filings for AIFs and VCFs for the periods ending March 31, 2020 and April 30, 2020 by 2 months. Click here to view Circular
Sunday, March 29, 2020
Lockdown period would not be counted in IBC timeline
The Government of India has declared a lockdown of 21 days w.e.f. 25th March, 2020 as a measure to combat and contain the spread of COVID-19. It is difficult for the insolvency professionals to continue to conduct the process, for...
Saturday, March 28, 2020
IBBI vide Notification dated 28th March, 2020 has amended IBBI (Insolvency Professionals) Regulations to provide the following relaxations to the Insolvency Professionals: S. No. Regulation and particulars Due date Relaxation 1. Regulation 7(2)(ca): Payment of fee @ 0.25% of the...
Friday, March 27, 2020
SEBI eased for submission of documents by the Merchant Bankers and other market intermediaries by allowing acceptance of PDF copies of reports under Regulation 10(7) of SEBI (SAST) Regulations, 2011, exemption applications, Public Announcements, Detailed Public Statements, Draft Letter of...
Friday, March 27, 2020
Relaxations from compliance with certain provisions of SEBI (SAST), 2011
Amidst the outbreak of COVID-19 and prevailing travel restrictions and various other logistical challenges, SEBI vide its circular dated March 27, 2020, has extended the last date of filing of annual disclosure for the financial year ending on March 31,...
Thursday, March 26, 2020
Supporting Investors’ Amid Covid 19 Scare and Fallen Markets
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.”– Jimmy Dean COVID-19 has done damage to financial markets no less than Tsunami. Trust and stability are being washed away from...
Thursday, March 26, 2020
SEBI has granted the following further relaxations from the compliances under the SEBI (LODR), 2015: S. No. Regulation and associated filing Filing Relaxation w.r.t. the quarter/financial year ending 31st March, 2020 Frequency Due within Due date Extended date Period of...
Saturday, March 26, 2022
Changes in Preferential Issue Pricing Methodology
Keeping in view the amendments to SEBI (Issue of Capital & Disclosure Requirement) Regulations, 2018 dated January 14, 2022, pertaining to preferential issues of specified securities. Recently, with regard to pricing thereof, the stock exchanges have clarified that “The issuer...
Wednesday, March 25, 2020
Compliance simplified by BSE & NSE amidst COVID-19 pandemic
NSE & BSE on comprehending the challenges being faced by company’s personnel working from home and requirement to submit necessary compliance within appropriate deadlines, allowed submission of documents without signature i.e. SD/- through their online Listing Portal, inter-alia, including disclosure...
Tuesday, March 24, 2020
Delhi High Court suspends all matters till 04.04.2020.
Administrative and General Supervision Committee of Delhi High Court in view of lockdown declared by Government of NCT of Delhi and on request made by Bar Associations for complete closure of the Courts vide its notification dated 23.03.2020 has resolved...
Tuesday, March 24, 2020
Income Tax Last date for belated Income tax return for the financial year 2018-19, extended to 30th June, 2020. Previously, it was 31st March, 2020. Interest rate for delayed payments reduced from 12% to 9%. Interest rate for delayed deposits...
Tuesday, March 24, 2020
Further reliefs under the Companies Act, 2013 and LLP Act, 2008
In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the...
Tuesday, March 24, 2020
MCA vide notification dated 24th March, 2020, has increased the threshold limit for filing application for insolvency to Rs. 1 crore. Previously, it was Rs. 1 lakh. Further, Hon’ble Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, has announced...
Monday, March 23, 2020
Company Affirmation of Readiness towards COVID-19
In order to generate greater awareness and confidence, MCA has deployed a simple web form for companies/ LLPs to confirm their readiness to deal with the COVID-19 threat. The web based form CAR (Company Affirmation of Readiness towards COVID-19) may...
Monday, March 23, 2020
Now, Company may spend CSR amount for COVID-19
Keeping in view of the spread of COVID-19 (Corona Virus) in India, MCA clarified that spending of CSR amount for COVID-19 is eligible for CSR activity. Click here to view Circular
Monday, March 23, 2020
Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayers, the timelines for certain filings as required under the GST Law, are extended, as follows: S....
Monday, March 23, 2020
Combating COVID-19: Indian Supreme Court stopped the Limitation Clock
Deciding Suo Motu Writ Petition (Civil) No 3/2020 today, the Hon’ble Supreme Court of India took cognizance of the difficulties faced by the litigants across the country, in filing their cases within limitation period, due to outbreak and scare of...
Monday, March 23, 2020
Extension to Reits and Invits from Regulatory Filings Amidst Covid-19 Spread
Due to ongoing disruption arising due to pandamic of COVID-19 virus SEBI granted temporary relaxations to Real Estate Infrastructure Trusts (Reits) and Infrastructure Investment Trusts (InviTs) vide its circular dated 23.03.2020. In the aforementioned Circular, SEBI has granted one month...
Monday, March 23, 2020
SEBI Relaxation for Companies having Listed NCDs/ NCRPs/ Commercial Paper
SEBI vide circular dated Mar 23, 2020 granted relaxation in timelines to entities having their listed NCD/ NCRPS/ Commercial paper from compliance due to the CoVID -19 virus pandemic, which inter-alia include the following: (a) Filing Audited financials as on...
Monday, March 23, 2020
Relaxation in compliance with requirements relating to Mutual Funds
The timelines for certain disclosures as required under the provisions of the SEBI (Mutual Funds) Regulations, 1996 and circulars issued thereunder, have been extended, as under: S. No. Regulation/ Circular and associated filing Filing Timelines Frequency Due within Due date...
Monday, March 23, 2020
Relaxation from compliance with certain provisions of SEBI (LODR), 2015 and certain SEBI Circulars
In order to enables issuers who intend/ propose to list their Non-Convertible Debentures (NCDs)/ Non-Convertible Redeemable Preference Shares (NCRPS)/ Commercial Paper(s), SEBI has granted the following relaxations in timeline: Particulars Available Audited financials Date of issuance Extended date for issuance...
Monday, March 23, 2020
Company may spend CSR amount in PM Cares Fund
MCA vide Circular dated 23rd March, 2020, has already clarified that spending of CSR amount for COVID-19 is eligible for CSR activity. In this line, the Government of India has set up the Prime Minister’s Citizen Assistance and Relief in...
Thursday, March 19, 2020
MCA allows board meeting to be held via video conference on restricted matters for 3 months
Considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19), MCA has amended the Companies (Meetings of Board and its Powers) Rules, 2014, to relax the requirement of holding Board meetings with physical presence of...
Thursday, March 19, 2020
Extension of timeline for filings in SEBI (LODR), 2015
The timelines for certain filings as required under the provisions of the SEBI (LODR) Regulations, 2015, have been extended, as under: S. No. Regulation and associated filing Filing Relaxation w.r.t. the quarter/ financial year ending 31st March, 2020 Frequency Due...
Thursday, February 22, 2024
Liberalization of FDI in the Space Sector
To leverage international relations and create an ecosystem for effectively implementing space applications among all stakeholders, the Union Cabinet on February 21, 2024 announced measures in connection with the liberalization of foreign direct investment in Space Sector. Previously, 100% foreign...
Friday, February 09, 2024
Issuer’s Alert- SEBI to return Offer Documents for sake of Clarity!
Any Draft Offer Documents filed with SEBI, if not clear and complete, may now be returned back by the Capital Market Regulator. SEBI vide its circular dated February 06, 2024, has introduced Guidelines for the same. The said Guidelines will...
Saturday, January 23, 2021
MCA has enforced the following amendments made by the Companies (Amendment) Act, 2019 & the Companies (Amendment) Act, 2020 w.e.f. 22nd January, 2021: (1) Amendment in the Provisions of CSR [Section 135 (5) to (8)]: By the Companies (Amendment) Act,...
Saturday, January 23, 2021
Rule Amendments Rule 2: Definitions The following new definitions have been added: Administrative overheads: means the expenses incurred by the company for ‘general management and administration’ of CSR functions in the company but shall not include the expenses directly incurred...
Wednesday, January 05, 2022
SEBI’s Mixed Bag of Goodies for the New Year!!
The Capital Market Regulator, SEBI, in its Board Meeting held on December 28, 2021 has inter-alia, approved the revised framework for preferential issues. These changes have been brought in line with the suggestions and recommendations received from the market/ industry...