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Swift e-Bulletin

Introduction

Edition 25th 22-23

Week – September 19th to September 23rd

Quote for the week:

“Every problem is a gift — without problems we would not grow.”

– Anthony Robbins.

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 Finance (“MCA”), Securities and Exchange Board of India (“SEBI”) and Insolvency and Bankruptcy Board of India (“IBBI”) and order passed by Supreme Court.

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

  1. MCA vide Notification dated September 20, 2022 amended Companies (Corporate Social Responsibility Policy) Rules, 2014.
  2. SEBI vide Circular dated September 22, 2022 issued the issue and listing of commercial papers by Infrastructure Investment Trust (“InvIT”) and Real Estate Investment Trust (“REIT”).

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of September 19 to September 23, 2022.

 

Thank you,

Swift team


Table of Contents

REGULATORY UPDATES

MCA

  1. MCA vide Notification dated September 20, 2022 amended Companies (Corporate Social Responsibility Policy) Rules, 2014

SEBI

  1. SEBI vide Circular dated September 22, 2022 issued the issue and listing of commercial papers by Infrastructure Investment Trust (InvIT) and Real Estate Investment Trust (REIT)
  2. SEBI vide Circular dated September 19, 2022 issued the framework on Social Stock Exchange (“SSE”)

IBBI

  1. IBBI vide Notification dated September 20, 2022 issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2022
  2. IBBI vide Notification dated September 20, 2022 issued Insolvency and Bankruptcy Board of India (Information Utilities) (Second Amendment) Regulations, 2022
  3. IBBI vide Notification dated September 20, 2022 issued Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Third Amendment) Regulations, 2022

JUDGEMENTS AND ORDERS

SUPREME COURT

  1. In the matter of Maitreya Doshi Vs. Anand Rathi Global Finance Ltd. And Anr. [Civil Appeal No. 6613 of 2021]’

 

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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