CAIRR Update April 30, 2021

By | 2021-04-30T13:37:15+00:00 April 30th, 2021||

April 30, 2021   Summary of the circulars issued by SEBI on 29/04/2021   SEBI grants relaxation from compliance with certain provisions governing Equity/Debt/Municipal Bonds/Commercial Paper listed entities due to the CoVID-19 pandemic Through the circulars, SEBI has granted extension of deadlines with respect to compliance of below regulations. Further, Listed entities are permitted [...]

CAIRR Update April 28, 2021

By | 2021-04-28T12:31:34+00:00 April 28th, 2021||

April 28, 2021 Summary of the notification issued by IBBI on 27/04/2021   Extension of fee payment deadline by the Insolvency Professional and timelines for intimation for appointment/cessation of director/partner in Insolvency Professional Entity(IPE) Through this notification, IBBI has extended the timeline for the Insolvency Professional to pay the prescribed fee to the Board [...]

CAIRR Update April 27, 2021

By | 2021-04-27T12:59:01+00:00 April 27th, 2021||

April 27, 2021 Summary of the notification issued by SEBI on 26/04/2021   SEBI amends Insider Trading Regulations Through this notification, SEBI has omitted the following provision relating to Initial Disclosure as the prescribed deadline has elapsed, rendering the provision obsolete: Every promoter, member of the promoter group, key managerial personnel and director of [...]

CAIRR Update April 23, 2021

By | 2021-04-23T12:55:30+00:00 April 23rd, 2021||

April 23, 2021 Summary of the circular issued by MCA on 22/04/2021   Clarification on eligible CSR activities under Companies Act, 2013 in light of COVID pandemic Through this circular, MCA has clarified that setting up of makeshift hospitals and temporary COVID care facilities undertaken in consultation with the respective State Governments, are eligible [...]

CAIRR Update April 14, 2021

By | 2021-04-14T13:40:24+00:00 April 14th, 2021||

April 14, 2021 Summary of Notifications Issued on 13th April 2021   IBBI notifies w.e.f 13th April 2021, the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021 for Information Utilities whose function is to gather, assemble, validate and disseminate financial information from corporate debtors/creditors (users) and facilitate the insolvency resolution process. [...]

CAIRR Update April 12, 2021

By | 2021-04-12T13:33:13+00:00 April 12th, 2021||

April 12, 2021 Summary of the notifications issued by MCA and IBBI on 09/04/2021   Government notifies the minimum amount of default to initiate Pre-Packaged Insolvency Resolution Process (IRP) of Corporate Debtor under IBC, 2016 Through this notification, the Central Government has notified Ten Lakh rupees as the minimum amount of default for the [...]

CAIRR Update April 05, 2021

By | 2021-04-05T13:11:01+00:00 April 5th, 2021||

April 05, 2021 Summary of the ordinance issued by the President of India on 04/04/2021   Government introduces Pre-Packaged Insolvency Resolution Process(IRP) for distressed Micro, Small and Medium Enterprises (MSMEs) under IBC, 2016 With the objective to ensure quicker, cost-effective and value maximising outcomes for all the stakeholders, in a manner which is least [...]

CAIRR Update April 02, 2021

By | 2021-04-02T15:27:13+00:00 April 2nd, 2021||

April 02, 2021 Summary of the notifications issued by MCA on 01/04/2021   MCA further amends Companies (Accounts) Rules, 2014 MCA has now deferred the date from which audit trails of books of accounts maintained in any accounting software needs to be recorded from financial year commencing 1st April 2021 to 1st April 2022. [...]

CAIRR Update March 25, 2021

By | 2021-03-25T18:18:19+00:00 March 25th, 2021||

March 25, 2021 Summary of the notifications issued by MCA on 24/03/2021 MCA relaxes penal provisions with respect to Unpaid Dividend Account and Valuation by a Registered Valuer as per the Companies Amendment Act, 2020 Through this notification, MCA has relaxed penal provisions under the Companies Act, 2013 with respect to contravention of the [...]

CAIRR Update March 19, 2021

By | 2021-03-19T12:23:14+00:00 March 19th, 2021||

March 19, 2021 Summary of the notifications and circular issued by MCA and IBBI on 18/03/2021   MCA notifies the commencement of provision related to remuneration of non-executive directors in case of inadequate/nil profits. MCA has notified the provision that non-executive director, including an independent director, can be remunerated by the Company in case [...]

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