December 07, 2020 Summary of the clarification issued by IBBI on 04/12/2020 Computation of fee payable for delay in filings under regulation 40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. IBBI has clarified that a fee of Rs. 500 shall be payable for filing of each form under Regulation [...]
December 03,2020 Summary of the circular issued by SEBI on 02/12/2020 SEBI issues Operational guidelines for Transfer and Dematerialization of re-lodged physical shares Further to the SEBI Circular dated 07/09/2020 fixing 31/03/2021 as the cut-off date for re-lodgement of transfer requests and stipulating that such transferred shares shall be issued only in [...]
December 02, 2020 Summary of the notification and circular issued by MCA on 27/11/2020 and 01/12/2020 respectively. Designation of Special Court for the State of Maharashtra, West Bengal and Tamil Nadu in connection to trials under Companies Act,2013, in respect of cases filed by SEBI The Central Government has notified the special courts, [...]
November 30, 2020 Summary of the circular issued by IBBI on 27/11/2020 IBBI launches electronic platform to file the list of creditors by the Resolution Professionals as required under CIRP Regulations, 2016 Further to the notification issued by IBBI on 13/11/2020, requiring the Interim Resolution Professional (IRP) or the Resolution Professional (RP) to file [...]
November 24, 2020 Summary of Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2020 issued by IBBI on November 23, 2020 These Guidelines shall come into effect for appointments as Interim Resolution Professionals (IRP), Liquidator, Resolution Professionals (RP) and Bankruptcy Trustee (BT) with [...]
November 17, 2020 Summary of the circular and notifications issued by SEBI and IBBI on 13/11/2020 I. SEBI issues Standard Operating Procedure with respect to imposition of fine and initiation of action in case of non-compliance of continuous disclosures by issuers of listed Non-Convertible Debt Securities(NCDS) and/or Non-Convertible Redeemable Preference Shares(NCRPS) and/or Commercial [...]
November 10, 2020 Summary of the Circular issued by MCA on 09/11/2020 Defaulting LLPs can avail the benefits under LLP Settlement Scheme, 2020 with respect to belated documents due for filing till 30/11/2020 Through this circular, Defaulting LLPs which haven’t filed returns that are due to be filed by 30/11/2020 (as against original [...]
October 30, 2020 Summary of the circular and notification issued by IBBI and SEBI issued on 29/10/2020 Procedure to submit online application to the Board for initiating Corporate Insolvency Resolution Process (CIRP) under IBC,2016 Further to the amendments made to Rules 4, 6 and 7 of Insolvency and Bankruptcy (Application to Adjudicating [...]
October 22, 2020 Summary of the circular issued by MCA on 20/10/2020 MCA dispenses with the requirements towards minimum residency of Directors of a Company for FY 2020-21 Further to its earlier circular dated March 24, 2020 pertaining to financial year 2019-20, MCA has now dispensed with the requirement of at least [...]
October 19, 2020 Summary of the notification issued by MCA on 16/10/2020 Procedural amendment with respect to Private Placement offers made to Qualified Institutional Buyers under the Companies Act 2013 and its Rules Through this amendment, it will now suffice if the company that makes an offer or invitation to subscribe to [...]