The launch of a voluntary governance code by NSE for Indian corporates under the banner “NSE Prime” is a laudable initiative, which we believe is in the right direction, as good governance at its core is ethically inspired and based on voluntary compliance with both the stated and unstated needs [...]
January 25, 2022 Summary of the notification issued by SEBI on 24/01/2022 SEBI amends LODR regulations Key highlights of the amendment are as follows: 1. Board of Director/Manager appointment: Shareholders’ approval is required for appointment of ‘a manager’ at the next general meeting or within 3 months from the appointment date, whichever is earlier. Further, [...]
January 10, 2022 Summary of the circular issued by SEBI on 07/01/2022 Applicability of RPT disclosures to High Value Debt Listed Entities SEBI, vide its circular dated 22/11/2021, had prescribed the information to be furnished by the listed entity for Audit Committee’s review, shareholders’ consideration and had also notified the format of [...]
January 13, 2022 Summary of the notifications issued by MCA on 11/01/2022 Higher Additional Fees in case of delayed filing of certain forms from 1st July, 2022 MCA has notified the amount of additional fees, which is upto 6 times higher over the standard additional fees and which shall be payable if there is a [...]
December 2, 2021 Summary of the guidelines issued by IBBI on 01/12/2021 IBBI notifies Insolvency Professionals (IPs) to act as Interim Resolution Professionals (IRP), Liquidators, Resolution Professionals (RP) and Bankruptcy Trustees (BT) (Recommendation) (Second) Guidelines, 2021 with effect from 01/01/2022 IB Code, 2016 and its Rules requires the Board to recommend the [...]
December 31, 2021 Summary of the notification issued by MCA on 28/12/2021 Procedure for purchase of minority shares from the IEPF under IEPFA (Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 The criteria and manner of transfer of shares by the IEPF to the Company upon the receipt of [...]
December 30, 2021 Summary of the Circulars issued by MCA and SEBI on 29/12/2021 Extension of timeline for Additional Fee waiver towards filing of e-forms relating to Financial Statements and Annual Return for the FY 2020-21 upto 15/02/2022 and 28/02/2022 respectively MCA has waived off the additional fee payable on filing of e-Forms AOC-4/AOC-4 (CFS)/AOC-4 XBRL [...]
December 15, 2021 Summary of the circular issued by MCA on 14/12/2021 AGMs for the FY ended/ending before 31/03/2022 can be held via Video Conferencing till 30/06/2022 MCA allows Companies to conduct their AGMs in the year 2022 for the Financial Year ended/ ending any time before 31/03/2022 through VC or OAVM till 30/06/2022. It has further clarified that this [...]
The role of the Board of Directors (Board) in shaping the development of a corporation is multifaceted and covers among others governance, business, and the culture in the organisation. For listed companies in India, there is regulatory requirement on what is the desired composition of the Board, which includes among [...]
December 09, 2021 Summary of the circulars issued by MCA on 08/12/2021 EGMs and AGMs under Companies Act, 2013 can be conducted through Video Conferencing till 30/06/2022 MCA has notified that Extra-Ordinary General Meeting (‘EGM’) and Annual General Meeting (‘AGM’) due to be conducted in the year 2021, can be done through VC/OAVM till [...]
