September 26, 2019 Summary of circular issued by NSE on 24/09/2019 is provided below: NSE Circular on classifying material developments in defaults and/or Inter Creditor Agreements as Unpublished Price Sensitive Information Through this circular, NSE directs Listed Entities to treat “material” developments with respect to defaults and/or Inter Creditor Agreements as Unpublished Price Sensitive [...]
September 25, 2019 Summary of circular and notification issued by MCA on 24/09/2019 and 23/09/2019 respectively, are provided below: REGULATORY: MCA Circular to extend the last date for filing Form BEN-2 under Companies Act, 2013. MCA has extended the time limit for filing Form BEN -2 under Section 90 of Companies Act, 2013 from September [...]
September 23, 2019 Summary of Order issued by MCA on 18/09/2019 is provided below: MCA Order to constitute a Company Law Committee to make recommendations to the Government with respect to implementation of Companies Act, 2013 and Limited Liability Partnership Act, 2008 Through this Order, MCA has constituted the Company Law Committee, whose constitution [...]
September 20, 2019 Summary of Notification issued by SEBI on 17/09/2019 is provided below: SEBI notifies the procedure for Informant Reward under Securities and Exchange Board of India (Prohibition of Insider Trading) (Third Amendment) Regulations, 2019 Through this notification, SEBI has introduced “Chapter IIIA” to govern the provisions related to submission of original information [...]
Summary of Notification and Circular in the Companies Act, 2013 and the IBBI Code, 2016 issued on 05/09/2019 and 07/09/2019 respectively are listed below: The National Financial Reporting Authority (Amendment) Rules, 2019: Explanation to Rule 3(1) (c) has been inserted wherein the definition of Banking Company would now include ‘corresponding new bank’ under Banking [...]
Summary of notifications in the Companies Act, 2013 issued on 28.08.2019 are listed below: Designation of Special Court for Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra: The Central Government with the concurrence of the Chief Justice of the High Court, Bombay has designated ‘Court of District [...]
Summary of Notification in the Companies Act, 2013 issued on 28/08/2019 is provided below: The companies (Incorporation) Seventh Amendment Rules, 2019: Through this notification, Form RD-1 (Form for filing application to Regional Director) and Form RD GNL-5 (Form for filing addendum for rectification of defects or completeness) provided for in the Companies (Incorporation) Rules, 2014 are [...]
Summary of Circular for Companies Act, 2013 issued on 21/08/2019 is listed below: MCA Circular on clarification under section 232(6) of the Companies Act, 2013: Through this Circular, the Ministry has clarified the ‘appointed date’ under the scheme of merger and amalgamation of the companies, could be calendar date or may be tied to [...]
Summary of Notifications in the Companies Act, 2013 and IBBI Code, 2016 are listed below: IEPFA (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 w.e.f., 20.08.2019 except for rule 6(i),(iv),(v),(vi),(vii),(viii) effective from on 20.09.2019- issued on 14.08.2019: i. Rule 5 is amended, wherein companies which have transferred any amount to IEPF under the [...]
Summary of notification and Circular in the Companies Act, 2013 and IBBI Code, 2016 issued on 14/08/2019 respectively are listed below: The Companies Amendment Act, 2019: MCA with reference to the Companies Act, 2013 dated 31/07/2019 notifies that the sections 6, 7 and 8, clauses (i), (iii) and clause (iv) of section 14, sections [...]