October 04, 2022 Summary of the circular and notification issued by SEBI, BSE, NSE and IBBI 03/10/2022 and 30/09/2022 Extension of timeline for entering the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories SEBI has extended the timeline for the issuers to update their existing [...]
September 30, 2022 Summary of the notification issued by IBBI on 28/09/2022 IBBI notifies additional rules for IPEs which intend to get appointed as IPs under Insolvency Professionals Regulations Key highlights of the amendment are: 1. Eligibility criteria for an Insolvency Professional Entity (IPE)- No IPE shall be eligible to be registered as an insolvency professional, [...]
Summary of the circulars issued by MCA, NSE and BSE on 28/09/2022 MCA extends deadline for filing of e-form/web form DIR-3 KYC to 15/09/2022 MCA has extended the due date for filing of e-form DIR-3 KYC and web-form DIR-3 KYC WEB, without payment of any additional fee, to 15/09/2022 from 30/09/2022. (Read more) Standard Operating [...]
September 22, 2022 Summary of the notifications issued by MCA and SEBI on 20/09/2022 MCA amends CSR rules Key highlights of the amendment are: 1. Requirement to constitute a CSR Committee : MCA has done away with blanket relaxation from constituting a CSR committee for companies not falling under the prescribed CSR thresholds for a consecutive period [...]
September 21, 2022 Summary of the Circular issued by SEBI on 19/09/2022 SEBI notifies disclosure norms for Non-Profit Organisations (NPOs) listed on the Social Stock Exchange (SSE)/ that have raised funds through it I. SEBI prescribes the following disclosures to be made by the NPOs on an Annual Basis (i.e.) within 60 days from end of [...]
Summary of the notifications issued by IBBI on 16/09/2022 IBBI amends CIRP Regulations Key highlights of the amendment are as follows: 1. Opening of a separate email account: The interim resolution professional (IRP) shall open an email account and use it for all correspondences with stakeholders and in the event of his replacement by another resolution [...]
September 16, 2022 Summary of the notification issued by MCA on 15/09/2022 Central Government revises the prescribed maximum share-capital and Turnover for a Small Company A Small Company is now defined as a company, other than a public company,— (i) paid-up share capital of which does not exceed Rs 4 crore (as against Rs 2 [...]
Summary of the notifications issued by IBBI on 13/09/2022 IBBI prescribes minimum fees and performance incentive for Interim Resolution Professionals(IRPs)/Resolution Professionals(RPs) under CIRP Regulations IBBI has notified the defined fee structure payable to IRPs and RPs who are appointed on or after 1st October 2022. It constitutes- 1. Minimum fixed fee payable every month, based on the [...]
August 30, 2022 Summary of the Notifications issued by MCA dated 29/08/2022. MCA issues Notification to amend Companies (Registration of Charges) Rules, 2014 MCA has issued Companies (Registration of Charges) Second Amendment Rules, 2022 to further amend Companies (Registration of Charges) Rules, 2014. Key highlights of the Notification are: The Form CHG-1, CHG-4, CHG-8 [...]
August 29, 2022 Summary of the notification issued by MCA on 24/08/2022 MCA amend formats of notices with respect to Removal of Names of Companies MCA has recently notified the procedure for Verification of Registered Office of the Company, where the Registrar has reasonable cause to believe that the company is not [...]