January 28, 2020 Summary of circular issued by BSE on 27/01/2020 1. BSE informs all listed Companies to update information through a separate Management Details section under BSE Listing Centre in addition to Corporate Announcements: BSE vide its circular dated January 27, 2020 has directed that Information regarding Statutory Auditor and Secretarial Auditor [...]
January 23, 2020 Summary of circulars issued by SEBI and IBBI on 22/01/2020 1. SEBI notifies revised penalty rates and Standard Operating Procedure (SOP) for suspension and revocation of trading of specified securities for non-compliance by listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to the amendments to Listing [...]
January 21, 2020 Summary of the circular issued by IBBI on 20/01/2020 1. IBBI notifies the details of the Scheduled Bank account for liquidators to deposit any unclaimed dividend and / or undistributed proceeds of voluntary liquidation process under Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017: In line with the [...]
January 20, 2020 Summary of the circular issued by SEBI on 17/01/2020 1. Listed entities to submit to Stock Exchange a Statement indicating Deviation or Variation in the use of proceeds of issue of listed non-convertible debt securities or listed non-convertible redeemable preference shares (NCRPs) on half-yearly basis: Through this circular, SEBI requires listed [...]
January 16, 2020 Summary of Notifications issued on January 9, 2020 and January 15, 2020 are detailed below: 1. The Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Amendment Rules, 2020: IBBI by this notification has amended the tenure of service of part-time [...]
January 14, 2020 Summary of Notification in SEBI (LODR) Regulations, 2015 issued on January 13, 2020 is detailed below: 1. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2020: SEBI (LODR) (Amendment) Regulations, 2018 modified Regulation 17 by including clause 1B which requires, from April 1, 2020, the top 500 listed entities to ensure “that [...]
January 10, 2020 Summary of Circular in IB Code, 2016 issued on 09.01.2020 is detailed below: 1. Circular on deposit of unclaimed dividends and /or undistributed proceeds of liquidation process as per Regulation 46(1) of the IBBI (Liquidation Process) Regulations 2016: Proviso to Regulation 46(1) provides that IBBI shall open a ‘separate bank account’ with a scheduled bank [...]
January 07, 2020 Summary of notifications issued by MCA and IBBI on 03/01/2020 and 06/01/2020 respectively. 1. MCA notifies amendment on increase in paid-up share capital threshold for appointment of Company Secretary and insertion of a criteria for conducting Secretarial Audit by Companies MCA has amended Rule 8A (Appointment of Company Secretaries in companies not [...]
Summary of circular issued by MCA on 01/01/2020 is provided below: 1. MCA Circular to extend the last date to March 31, 2020 to file Form BEN-2 on receiving declaration from Significant Beneficial Owners of the Company MCA has further extended the time limit from December 31, 2019 to March 31, 2020 without payment [...]
December 31, 2019 Summary of Circular issued by MCA on 30/12/2019 1. Extension of deadline for filing of Cost Audit Report with the Central Government MCA has extended the deadline for filing of Form CRA-4 (Form for filing Cost Audit Report with the Central Government), from 31/12/2019 to 29/02/2020, for all the eligible companies that are required [...]