April 29, 2022 Summary of the notification issued by IBBI on 28/04/2022 Applicability of certain regulations under IBBI(Liquidation Process) Regulations, 2016 IBBI has clarified that the requirements under following regulations shall apply to the liquidation processes commencing on or after the date of the commencement of the IBBI (Liquidation Process) (Amendment) Regulations, 2019, i.e. [...]
April 28, 2022 Summary of the notification issued by MCA on 27/04/222 Relaxation for the Banking Companies from Registration of Charge under the Companies Act, 2013 for specified transactions. Through this notification, a Banking Company needn't register the creation or modification of Charge, as required under Section 77 of the Companies Act, 2013 when it borrows [...]
April 26, 2022 Summary of guidance note and notification issued by NSE and SEBI on 25/04/2022 Guidance Note on disclosure of Related Party Transactions (RPT) The notice clarified the applicability and threshold limits among others. The Highlights are as under - Listed entities are required to submit the RPT disclosures in the [...]
April 20, 2022 Summary of the notification issued by MCA on 19/04/2022 MCA introduces stringent norms for Nidhi Companies. Key highlights of the amendments are as follows: 1. Criteria for Declaration as a Nidhi company:Any public company incorporated on or after 19/04/2022, which is desirous to be declared as Nidhi, shall within 120 days of its [...]
April 12, 2022 Summary of the amendments issued by SEBI, NSE and IBBI dated 08/04/2022 and 11/04/2022 SEBI amends provision related to asset/security cover under LODR Regulations. Through this notification, SEBI has replaced the term 'asset' with 'security' and requires the issuer of the secured non-convertible debt securities to ensure that the security shall [...]
April 11, 2022 Summary of the circular and notification issued by SEBI and MCA on 08/04/2022 Clarification on validity of omnibus approvals for material related party transactions(RPTs) under LODR Regulations As per LODR regulations, omnibus approval for RPTs granted by the audit committee shall be valid for a period not exceeding one year and [...]
Summary of the notification issued by MCA on 06/04/2022 Personal Information in the Registers and Annual Returns to be unavailable for inspection under the Companies Act 2013 The following particulars in the registers, their indices or Annual Returns pertaining to the members of a company shall not be made available for inspection or for [...]
April 06, 2022 Summary of the Circular and Notification issued by SEBI and IBBI dated 29/03/2022 and 05/04/2022 SEBI issues Operational guidelines for ‘Security and Covenant Monitoring’ using Distributed Ledger Technology (DLT) SEBI vide its circular dated 13/08/2021 introduced the DLT system w.e.f 01/04/2022 to record and monitor the security(ies) created and to monitor covenants [...]
April 01, 2022 Summary of the notification issued by MCA on 31/03/2022 Extension of deadlines for filing of CSR-2 and implementation of accounting software with audit trail under Companies Act, 2013 MCA has extended the deadline for filing of form CSR- 2 for the preceding financial year (2020-2021) to 31/05/2022 (as against earlier deadline of 31/03/2022). It [...]
March 31, 2022 Summary of the circular issued by SEBI on 30/03/2022 Clarification on requirement of Shareholders' approval for material RPTs under LODR Regulations, 2015 w.e.f 01/04/2022 SEBI vide its notification dated 09/11/2021 required that w.e.f April 1, 2022, all material related party transactions and subsequent material modifications shall require prior approval of the shareholders through [...]