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Swift e-Bulletin

Introduction

Edition 23, 22-23

Week – Sep 05 to Sep 09

Quote for the week:

“Business has only two functions marketing and innovation”

– Milan Kundera.

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”), Reserve Bank of India (“RBI”), International Financial Services centre Authority (“IFSCA”) and orders passed by the SEBI.

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

  1. MCA vide Notification dated September 05, 2022 amended Section 55 of Insolvency and Bankruptcy Code, 2016.
  2. RBI vide Notification dated September 07, 2022 reviewed the Prudential Norms – Risk Weights for Exposures guaranteed by Credit Guarantee Schemes (CGS).

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of September 05 to September 09, 2022.

 

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

MCA

  1. MCA vide Notification dated September 05, 2022 amended Section 55 of Insolvency and Bankruptcy Code, 2016

RBI

  1. RBI vide Notification dated September 07, 2022 reviewed the Prudential Norms – Risk Weights for Exposures guaranteed by Credit Guarantee Schemes (CGS)

IFSCA

  1. IFSCA vide Circular dated September 09, 2022 Amended the guidelines for Liquidity Enhancement Scheme

JUDGEMENTS AND ORDERS

SEBI Order

  1. In the matter of dealings in Illiquid Stock Options at the Bombay Stock Exchange, the adjudicating proceeding against Noticee was disposed of

 

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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