SEBI’s LODR, 2015 Regulation 25 (3) read with Schedule IV (VII) (1) of the Companies Act, 2013 requires all equity listed companies and unlisted companies having Independent Directors to schedule a meeting of Independent Directors of the company to meet without the presence of non-independent directors and members of management [...]
June 09, 2020 Summary of the notification issued by MCA dated 05/06/2020 MCA allows startups to issue sweat equity upto ten years from its incorporation date & takes liquidity improvement measures for listed entities making private placement of debentures. Through this notification, - A start-up company, as defined in notification number [...]
June 08, 2020 Summary of the Ordinance passed by the President of India on 05/06/2020 Ordinance to suspend applicability of Insolvency and Bankruptcy Code, 2016 due to CoVID-19 pandemic Citing various reasons including hampering of conduct of business operations and assigning of resolution professionals to recover the defaulting corporates due to [...]
June 03, 2020 Summary of the guidelines issued by IBBI on 02/06/2020 IBBI issues guidelines to be followed with respect to appointment of Panel of Insolvency Professionals (IPs) for the purposes of Corporate and Individual Insolvency applications under IBC, 2016 Through this notification, IBBI has issued detailed guidelines to be followed [...]
May 27, 2020 Summary of the Notification issued by MCA on 26/05/2020 1. MCA amends Schedule VII of the Companies Act, 2013 to include ‘PM CARES Fund’ as an eligible CSR expenditure, with effect from 28/03/2020 Through this notification, MCA has now amended the Schedule VII of the Act, to explicitly include [...]
Where fair disclosures are the desired objective, it must go beyond the limits set in law, which is the bare minimum that companies need to comply with to avoid penalties. Hence CimplyFive’s Model Disclosures for Covid-19 is designed with the objective of providing fair disclosures to all existing and potential investors. The disclosures would [...]
May 21, 2020 Summary of the circular issued by SEBI on 20/05/2020 1. SEBI issues advisory on disclosure of material impact of CoVID–19 pandemic on listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) Through this advisory, SEBI has emphasized the need for listed entities to ensure the [...]
May 15, 2020 Summary of the Circulars issued by SEBI on 14/05/2020 1. SEBI relaxes applicability of SEBI Circular dated October 10, 2017 on non-compliance with the Minimum Public Shareholding (MPS) requirements Through this circular, SEBI has relaxed the applicability of its earlier circular dated 10/10/2017, which laid down the procedure to [...]
The quality of governance depends on the ethics of the people at the helm of affairs. Hence the subject of governance is linked with ethics and not morals or law and is rightly called Ethics & Governance. In its essence, governance is the collection of systems, processes and methods for [...]
May 13, 2020 Summary of the circular and order issued by SEBI and NCLT on 12/05/2020 1. Additional relaxation in relation to compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 due to Covid-19 pandemic Following is the summary of relaxations granted by SEBI - Regulation Relaxation [...]
