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 [...]
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 [...]
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 [...]
May 12, 2020 Summary of the circular issued by MCA on 11/05/2020 Relaxation with respect to Dispatch of Notice towards Rights Issue under Companies Act, 2013 by Listed Entities for Rights Issue opening upto 31/07/2020 In line with various procedural relaxations granted by SEBI with respect to Rights Issue opening upto [...]
May 06, 2020 Summary of the circular issued by MCA on 05/05/2020 1. MCA allows Companies to conduct Annual General Meetings(AGMs) for the calendar year 2020 through Video Conferencing facility due to CoVID-19 pandemic Through this circular, MCA has permitted Companies to hold AGMs for the calendar year 2020 though electronic [...]
May 04, 2020 Summary of the circular issued by MCA on 30/04/2020 1. MCA extends due date by 60 days for filing form NFRA – 2 for FY 2018-19 to 06/07/2020 MCA vide this circular has extended the deadline for filing form NFRA – 2 from 150 days to 210 days [...]
April 30, 2020 Summary of the notification issued by MCA on 29/04/2020 Extension of deadline for Independent Directors to get themselves registered with the Data Bank from April 30, 2020 to June 2020. Through this notification, MCA has extended the deadline for those individuals who were acting in the capacity of Independent Directors [...]