Summary of the notifications and clarification issued by MCA and Stock Exchanges on 30/06/2021 and 29/06/2021 respectively MCA extends the timeline for filing certain forms under the Companies Act, 2013 and LLP Act, 2008 MCA has extended the timeline granted vides its earlier circular dated 03/05/2021. Therefore, For forms other than CHG-1, CHG-4 and [...]
Summary of the guidelines issued by IBBI IBBI notifies Technical Standards to be adhered to by the Information Utilities under IBBI (Information Utilities) Regulations, 2017 IBBI has notified the Technical Standards, as prescribed under Regulation 13 of the said Rules, to ensure and enforce the reliability, confidentiality and security of financial information to be [...]
Summary of the notification issued by MCA on 23/06/2021 MCA enhances the threshold limits of Small and Medium Sized Companies(SMCs) for the purposes of applicability of Accounting Standards with effect from accounting periods starting on or after 01/04/2021 As a measure to improve the ease of doing business, MCA has introduced Companies (Accounting Standards) [...]
Summary of the notifications issued by MCA on 18/06/2021 MCA amends provision related to chargeability of fee w.r.t databank registration by Independent Directors(IDs) under the Companies Act, 2013 and its Rules Through this notification, MCA authorizes Indian Institute of Corporate Affairs, which is the Institute that creates and maintains the data bank of the IDs as required [...]
Summary of the circular issued by SEBI on 16/06/2021 Applicability of System Driven Disclosures to listed Debt Securities issued by Equity listed companies under SEBI (PIT) Regulations, 2015 SEBI has notified the applicability of System Driven Disclosures (SDD) under SEBI (Prohibition of Insider Trading) Regulations, 2015 to listed Debt Securities issued by Equity Listed [...]
Summary of the notification issued by MCA on 09/06/2021 MCA notifies manner of transfer of shares held by the Significant Beneficial Owners under Section 90(9) the Companies Act, 2013 to IEPF. Through this notification, MCA has amended IEPFA (Accounting, Audit, Transfer and Refund) Rules, 2016, to prescribe detailed procedure with respect to manner [...]
MCA facilitates obtaining Shops and Establishment Registration at the time of application of incorporation of a company under the Companies Act, 2013 using Form AGILE-PRO-S Through this notification, MCA has facilitated the entities applying for incorporation of a company to avail the option to get itself registered under Shops and Establishment Act using Form [...]
IBBI notifies Insolvency Professionals (IPs) to act as Interim Resolution Professionals (IRP), Liquidators, Resolution Professionals (RP) and Bankruptcy Trustees (BT) (Recommendation) Guidelines, 2021 with effect from 01/07/2021 IB Code, 2016 and its Rules requires the Board to recommend the name of an IP for appointment as IRPs, Liquidators, RP and BT under various sections for [...]
Listed Entities to submit disclosures on Loans, Guarantees etc issued to Promoters/Promoter Groups etc. in Corporate Governance Report on a half-yearly basis under LODR Regulations, 2015 from the FY 2021-22 With an intent to bring in improved transparency, SEBI requires Listed Entities to provide disclosures on loans/ guarantees/comfort letters/ security issued directly or indirectly [...]
MCA issues clarification on offsetting the excess CSR amount spent for FY 2019-20 under the Companies Act, 2013 and its Rules. Further to the representations made by Indian Corporates, MCA has clarified that any excess amount or part thereof can be offset against the requirement to spend under section 135(5) for FY 2020-21, if a [...]