Summary of Circular in IBBI Code, 2016 issued on 13/8/2019 is listed below: Valuation under the Insolvency and Bankruptcy Code, 2016: Appointment of Registered Valuer: a. The Board has clarified that appointment of any person as a registered valuer other than a valuer registered under Companies (Registered Valuers and Valuation) Rules, 2017 to conduct [...]
Summary of the IBBI Code (Amendment) Act, 2019 issued on 05/08/2019 is listed below: The Insolvency and Bankruptcy Code (Amendment) Act, 2019: Ministry of law and Justice has issued the Insolvency and Bankruptcy Code (Amendment) Act, 2019 wherein eight sections are amended, as detailed: The Corporate insolvency resolutions process mandatorily must be completed within [...]
Summary of Circular issued by SEBI under SEBI (SAST) Regulations, 2011 dated 07/08/2019 is listed below: Circular on Disclosure of reasons for encumbrance by promoter of listed companies w.e.f., 01/10/2019: To bring in more transparency, SEBI directs the Promoters of every listed company to specifically disclose within 2 working days the detailed reasons for [...]
Summary of Guidelines and administrative changes in IBBI Code, 2016 issued on 06/8/2019 and 02/08/2019 respectively are listed below: IBBI (Continuing Professional Education for Insolvency Professionals) Guidelines, 2019 w.e.f., 1st January 2020: The Board has mandated Continuous Professional Education (CPE) for an Insolvency Professional (IP) to maintain and upgrade his professional knowledge and skills, [...]
Through this circular, SEBI has automated the generation of SCORES user id and password, which will be sent through an auto-generated email to the registered email ID, for all new SEBI registered intermediaries, upon online approval of their registration, dispensing with the need to submit FORM B. Further, all existing and new SEBI registered [...]
Summary of Amendment in the Companies Act, 2013 issued on 31/07/2019 is listed below: The Companies (Amendment) Act, 2019: Ministry of law and Justice has issued the above Amendment, to give a continued effect to the provisions of the Companies (Amendment) Second Ordinance, 2019 dated 21st February 2019 by repealing the said Ordinance. The [...]
Summary of Notifications in SEBI (PIT) Regulations, 2015 and SEBI (LODR) Regulations, 2015 issued on 25/07/2019 and 29/07/2019 respectively are listed below: SEBI (Prohibition of Insider Trading) (Second Amendment) Regulations, 2019: SEBI has amended the Schedules B and C of Regulation 9 (“Code of Conduct”) to mandate restriction of trading for the designated persons [...]
Summary of Circular for the Companies Act, 2013 issued on 29/07/2019 is listed below: MCA Circular on extension of date for filing of e-Form BEN-2: Through this circular, MCA has extended the last date to file e-Form BEN-2 (every company shall file a return of significant beneficial owners to the company and the changes [...]
Summary of administrative change vide notification in the Companies Act, 2013 issued on 25/07/2019 is listed below: Registration offices: MCA notifies the establishment of Registrar of Companies at Guwahati relocating it from Shillong and giving it the territorial jurisdiction over the whole states of Assam, Meghalaya, Manipur, Tripura, Mizoram, Nagaland and Arunachal Pradesh for [...]
Summary of notifications under the Companies Act, 2013 and IB Code, 2016 issued on 25/07/2019 and 23/07/2019 respectively are listed below: Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 with immediate effect: a. MCA extends the due date for submitting the e-Form DIR-3 KYC for a financial year, by a Director from 31st [...]