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Swift e-Bulletin

Introduction

Edition 22nd 22-23

Week – August 29th to September 02nd

Quote for the week:

“Never say never, limits like fears are often just illusions”

– Michael Jordan.

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 the Ministry of Corporate Affairs (“MCA”) and orders passed by the NCLAT and Supreme Court.

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

  1. MCA vide notification dated August 29, 2022 issued the Companies (Acceptance of Deposit) Amendment Rules, 2022
  2. MCA vide notification dated August 29, 2022 issued the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2022.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of August 29 to September 02, 2022.

 

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

MCA

  1. MCA vide notification dated August 29, 2022 issued the Companies (Acceptance of Deposit) Amendment Rules, 2022
  2. MCA vide notification dated August 29, 2022 issued the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2022
  3.  MCA vide notification dated August 29, 2022 issued Companies (Registration of Charges) Second Amendment Rule, 2022

JUDGEMENTS AND ORDERS

NCLAT

  1. NCLAT disposed the appeal on grounds that application made by Operational Creditor under section 9 of IBC is not time barred under Limitations Act

SUPREME COURT

  1. Supreme Court held that arbitrator has the discretion to award post-award interest on a part of the ‘sum’

 

 

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About Swift

Swift India Corporate Services LLP (“Swift”) (Formerly known as SwiftIndiaInc Corporate Services Private Limited) established in the year 2005, is an associate entity of Nishith Desai Associates — Legal & Tax Counseling Worldwide (legal and tax consulting firm).

We are a team of professionals with rich corporate, legal and secretarial backgrounds. We are a premier corporate compliance firm that caters to the needs and demands of our global clients. Swift aims to provide quick and pragmatic corporate solutions alongside high-quality compliances.

  

 

Swift India Corporate Services LLP

 

Regd. Office: 91-92 B, Mittal Court, Nariman Point, Mumbai 400 021, India

LLPIN: AAH-4705, registered under the Limited Liability Partnership Act, 2008

Tel +91 22 6669 5000, Fax +91 22 6669 5001

 


www.swiftindiallp.com