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 [...]
May 20, 2022 Summary of the circulars issued by SEBI on 19/05/2022 Revision in timeline w.r.t Rights Issue under LODR regulations Through this circular, SEBI has revised the minimum time period between the closure of trading in Right Entitlements(REs) on stock exchanges and closure of the Rights Issue to 3 working days (as against [...]
May 17, 2022 Summary of the circular issued by SEBI on 13/05/2022 Relaxation from sending hardcopies of Annual Reports to shareholders under SEBI Regulations In line with relaxation granted by MCA vide its circular dated 05/05/2022 with respect to holding EGMs and AGMs through VC or Other Audio Visual Means (OAVM) till 31/12/2022, SEBI has [...]
May 06, 2022 Summary of the circulars and notification issued by MCA on 05/05/2022 AGMs and EGMs under Companies Act, 2013 can be conducted through Video Conferencing till 31/12/2022 MCA has extended the relaxation to conduct Extra-Ordinary General Meetings (‘EGMs’) and Annual General Meeting (‘AGM’) due to be held in the year [...]
May 05, 2022 Summary of the notification issued by MCA on 04/05/2022 Revision of SH-4 (Securities Transfer Form) format under Companies Act, 2013 MCA now requires a declaration from the Transferee in the SH-4 document on applicability for obtaining approval from the Government under FEMA (Non-debt Instruments) Rules, 2019, prior to transfer of shares. [...]
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 [...]