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 [...]
May 11, 2021 Summary of the circular issued by SEBI on 10/05/2021 Business Responsibility and Sustainability Reporting by listed entities under LODR Regulation, 2015 Further to the recent amendment to LODR, 2015 vide SEBI Circular dated 05/05/2021on Business Responsibility Reporting (BRR), SEBI has now notified the format and guidance note, which details out [...]
Summary of the circular issued by MCA on 05/05/2021 Clarification on eligible CSR activities under Companies Act, 2013 in light of COVID pandemic Through this circular, MCA has clarified that creation of health infrastructure for COVID care, establishment of medical oxygen generation and storage plants, manufacturing and supply of Oxygen concentrators, ventilators, cylinders and [...]
May 04, 2021 Summary of the circulars issued by MCA on 03/05/2021 MCA relaxes levy of additional fees in filing of certain forms under the Companies Act, 2013 and LLP Act, 2008 Through this circular, MCA has notified that no additional fees shall be levied on Companies/LLPs upto 31/07/2021 for the delayed filing of [...]
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 [...]
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 [...]
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 [...]
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 [...]
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. [...]