Introduction

Edition 9th 22-23

Week – May 30th to June 03rd

Quote for the week:

“Without Continual growth and progress, such words as improvement., achievement and success have no meaning.”                                                            

- Benjamin Franklin

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various Circulars/notifications issued by certain regulatory authorities such as Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (“SEBI”).

The Regulatory authorities provided various updates/relaxations, some of which being:

1. MCA has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2022.
2. MCA has issued Circular granting relaxation on paying additional fees in case of delay in filing all the event-based e-forms by Limited Liability Partnership.

We have prepared a comprehensive summary for quick reference of the aforesaid updates issued during the week of May 30, 2022 to June 03, 2022.

Thank you,

Swift team

REGULATORY UPDATES

MCA

1. MCA has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2022
2. MCA has issued Circular granting relaxation on paying additional fees in case of delay in filing all the event-based e-forms by Limited Liability Partnership
3. MCA has issued the Circular providing clarifications on main object of Section 8 Companies as Micro Finance/ Micro Credit activities

SEBI

1. SEBI has issued Circular on processing the ASBA applications in public issues of Equity Shares and convertibles
2. SEBI has issued Circular granting extension of facility for conducting the annual general meeting and other meeting of unit holders of REIT`s and InVIT`s through video conferencing or through other audio-visual means (OVAM)
3. SEBI has issued Circular on Standard Operating Procedures (SOP) for dispute resolution under stock exchange arbitration mechanism