Summary of the Circular issued by IBBI dated 02/11/2022 IBBI prescribes revised format of Annual Compliance Certificate for Insolvency Professional Agencies In furtherance to Circular issued by IBBI dated 31/10/2022 and in consequence of amendments in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, and [...]
November 02, 2022 Summary of the notification issued by IBBI on 31/10/2022 IBBI amends Model Bye-Laws and Governing Board of Insolvency Professional Agencies(IPAs) regulations Key highlights of the amendment are as follows: 1. Dissemination of disclosure of interest received from IPs: Duty of the IPA has been amended to include facilitation of receipt of relationship disclosures from [...]
October 31, 2022 Summary of the circular issued by NSE on 28/10/2022 NSE issues Standard Operating Process under SEBI (PIT) Regulations, 2015 for ensuring compliance with Structured Digital Database (SDD) Companies are required to submit a quarterly compliance certificate, by emailing it to the designated email ID, which has to be certified either by [...]
October 04, 2022 Summary of the circular and notification issued by SEBI, BSE, NSE and IBBI 03/10/2022 and 30/09/2022 Extension of timeline for entering the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories SEBI has extended the timeline for the issuers to update their existing [...]
September 30, 2022 Summary of the notification issued by IBBI on 28/09/2022 IBBI notifies additional rules for IPEs which intend to get appointed as IPs under Insolvency Professionals Regulations Key highlights of the amendment are: 1. Eligibility criteria for an Insolvency Professional Entity (IPE)- No IPE shall be eligible to be registered as an insolvency professional, [...]
Summary of the circulars issued by MCA, NSE and BSE on 28/09/2022 MCA extends deadline for filing of e-form/web form DIR-3 KYC to 15/09/2022 MCA has extended the due date for filing of e-form DIR-3 KYC and web-form DIR-3 KYC WEB, without payment of any additional fee, to 15/09/2022 from 30/09/2022. (Read more) Standard Operating [...]
September 22, 2022 Summary of the notifications issued by MCA and SEBI on 20/09/2022 MCA amends CSR rules Key highlights of the amendment are: 1. Requirement to constitute a CSR Committee : MCA has done away with blanket relaxation from constituting a CSR committee for companies not falling under the prescribed CSR thresholds for a consecutive period [...]
September 21, 2022 Summary of the Circular issued by SEBI on 19/09/2022 SEBI notifies disclosure norms for Non-Profit Organisations (NPOs) listed on the Social Stock Exchange (SSE)/ that have raised funds through it I. SEBI prescribes the following disclosures to be made by the NPOs on an Annual Basis (i.e.) within 60 days from end of [...]
Summary of the notifications issued by IBBI on 16/09/2022 IBBI amends CIRP Regulations Key highlights of the amendment are as follows: 1. Opening of a separate email account: The interim resolution professional (IRP) shall open an email account and use it for all correspondences with stakeholders and in the event of his replacement by another resolution [...]
September 16, 2022 Summary of the notification issued by MCA on 15/09/2022 Central Government revises the prescribed maximum share-capital and Turnover for a Small Company A Small Company is now defined as a company, other than a public company,— (i) paid-up share capital of which does not exceed Rs 4 crore (as against Rs 2 [...]