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 [...]
March 30, 2022 Summary of the notifications issued by MCA and IBBI on 23/03/2022 and 29/03/2022 respectively MCA amends Companies (Indian Accounting Standards) Rules, 2015 w.e.f 01/04/2022 The following standards are amended to give effect to the Annual Improvements to IndAS (2021) and the Conceptual Framework for Financial Reporting under Indian Accounting Standards [...]
Summary of the circular issued by SEBI on 23/03/2022 Separation of roles of Chairperson and MD/CEO is now voluntary under LODR Regulations SEBI vide its notification dated 01/04/2019 mandated that the top 500 listed entities shall appoint separate and unrelated persons for the Chairperson and MD/CEO roles from 01/04/2022. Through this notification, SEBI has made [...]
Summary of the circular issued by SEBI on 07/03/2022 Amendments to System Driven Disclosure requirements under Takeover Code, 2011 w.e.f 01/07/2022 SEBI vide its notification dated 13/08/2021 amended Takeover Code doing away with disclosure requirement w.r.t encumbered shares where such encumbrance is undertaken in a depository. This circular prescribes list of transactions where manual disclosures [...]
Summary of the Notification issued by MCA on 28/02/2022 MCA notifies amendment to the National Financial Reporting Authority [NFRA] Rules regarding the Salary and allowances of its Chairperson and members. Highlights of the amendment: Salary and allowances The Chairperson and a time full time member of NFRA shall have the option to draw [...]
February 15, 2022 Summary of the Circular issued by MCA on 14/02/2022 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 15/03/2022 and 31/03/2022 respectively MCA has for the third time extended the timeline with respect to additional fee waiver towards filing of e-Forms [...]