September 08, 2020 Summary of the notification and circular issued by MCA and SEBI respectively on 07/09/2020 1. MCA amends definition of Deposits with respect to Convertible Notes issued by Start-ups To bring the definition of Deposit in line with the revised definition of Start-up issued vide G.S.R. 127 (E), dated the [...]
September 03, 2020 Summary of the Guidelines issued by IBBI on 01/09/2020 IBBI issues guidelines on use of Caveats, Limitations and Disclaimers by the Registered Valuers (RVs) in Valuation Reports with effect from 01/10/2020 Pursuant to Rule 8 of The Companies (Registered Valuers and Valuation) Rules, 2017, RVs shall state “caveats, limitations [...]
August 31, 2020 Summary of the notifications issued by MCA on 28/08/2020 MCA dispenses with the requirement to annex extract of Annual Return in Form MGT-9 in Board’s Report if web link for Annual Return is disclosed in the report. Through this notification, MCA has clarified the debate around Section 92, which [...]
August 25, 2020 Summary of the notification issued by MCA on 24/08/2020 Government allows companies to report CoVID-related research activities as CSR As a measure to support and encourage companies engaged in research and development (R&D) activity of new vaccine, drugs and medical devices in their normal course of business to [...]
August 19, 2020 Summary of the Circular issued by MCA on 17/08/2020 Application for extension of AGM by Companies whose Financial Year ended on 31st March, 2020 MCA has clarified that companies whose Financial Year ended on 31st March, 2020 and could not hold its AGM by 30th September, 2020, even [...]
August 14, 2020 Summary of the circular issued by SEBI on 13/08/2020 SEBI issues SOP for non-redressal of grievances by listed companies and handling of SCORES complaints by Stock Exchanges(SEs) w.e.f. 01/09/2020 Key highlights: 1. Applicability of the circular: The procedures and actions specified for specified complaints such as non-receipt [...]
Board of Directors set the tone for the quality of governance and business performance of a company. A key factor determining the effectiveness and efficiency of the board is the calibre and conduct of its chairperson which is reflected in how they conduct meetings. In my three decades experience of [...]
August 10, 2020 Summary of the notification issued by IBBI on 07/08/2020 IBBI amends IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 Key highlights of the notification are as follows: 1. Basis for Appointment of Authorised Representative(AR): The three IPs offered by the interim resolution professional for the financial creditors [...]
August 07, 2020 Summary of the notification issued by SEBI on 05/08/2020 SEBI amends norms pertaining to intimation of Record Date to Stock Exchanges under LODR Regulations Under the revised regulation, a Listed Entity has to now intimate the Record Date with respect to the events such as declaration of dividend,rights/bonus [...]
August 06, 2020 Summary of the notifications issued by IBBI on 05/08/2020 IBBI amends Liquidation Process and Voluntary Liquidation Process regulations under IBC, 2016 S. No. Amended Regulation Summary of the Amendment 1. Regulation 4(2)(b) of IBBI (Liquidation Process) Regulations, 2016 On realization of any amount by the liquidator who doesn’t distribute the same, [...]
