June 16, 2022 Summary of the circular issued by IBBI on 15/06/2022 Procedural requirements to be adhered to by an Information Utility with respect to Corporate Insolvency Resolution Process An Information Utility (IU), upon receipt of the CIRP application (whether filed by Financial Creditor/Operational Creditor/Corporate Debtor) from the Board, shall carry out the following [...]
June 15, 2022 Summary of the notifications issued by IBBI on 14/06/2022 IBBI amends procedure for issuing of Record of Default under Information Utilities regulations. IBBI now requires the creditor to file the information of default with the information utility, prior to filing a CIRP application, so that the information utility shall process the [...]
June 13, 2022 Summary of the notification issued by MCA on 10/06/2022 Procedure for Restoration of Name in the Data Bank by the Independent Director under Companies Act, 2013 Any individual desirous of being appointed as an Independent Director is required to pass an online proficiency self-assessment test conducted by the Institute ('IICA') within [...]
June 10, 2022 Summary of the notification issued by MCA on 09/06/2022 MCA notifies re-submission timelines w.r.t application filed for removal of name of company under Companies Act, 2013 A company which intends to have its name removed under Section 248(2) of the Companies Act, 2013 shall file the application in Form STK-2. MCA [...]
June 08, 2022 Summary of the circular issued by NSE on 07/06/2022 Disclosures pertaining to Corporate Insolvency Resolution Process(CIRP) and loans/borrowings from banks/FIs to be filed in the new digital portal of NSE NSE has notified that the necessary intimations w.r.t: - the various stages of Corporate Insolvency Resolution Process (CIRP) such as Admission of [...]
June 02, 2022 Summary of the notification issued by MCA on 01/06/2022 Security Clearance from the Government is a pre-requisite before appointment of a director in certain cases Where the person seeking appointment as a director in an Indian Company is a national of a country which shares land border with India, he/she shall [...]
June 01, 2022 Summary of the notification issued by MCA on 31/05/2022 Extension of the deadline for filing of CSR-2 under Companies Act, 2013 MCA has extended the deadline for filing of form CSR- 2 for the preceding financial year (2020-2021) to 30/06/2022 (as against the earlier extended deadline of 31/05/2022). Further, MCA now requires that [...]
May 31, 2022 Summary of the notification issued by MCA on 30/05/2022 Requirement for Government Approval in case of a compromise or an arrangement under Companies Act, 2013 in specific cases Where there is a compromise/an arrangement/merger/de-merger between an Indian company and a company/body corporate which has been incorporated in a country that shares [...]
May 26, 2022 Summary of the circular issued by SEBI on 25/05/2022 SEBI simplifies the procedure for issuance of duplicate securities certificates To ease the procedure for issuance of duplicate securities, making it more efficient and investor friendly, SEBI has issued the revised requirements, operational guidelines and standardized formats in this regard. The revised [...]
May 23, 2022 Summary of the Notification issued by MCA on 20/05/2022 MCA revises the formats of Forms INC-9 and SPICe+ INC-32 for Incorporation under the Companies Act, 2013 w.e.f 01/06/2022 MCA prescribes the revised format for the declaration by Subscriber / First Director of a company in form INC-9 which is to be filed [...]