Introduction

Edition 39th 22-23

Week – January 09th to January 13th

Quote for the week:

“You’re really the only one who needs to acknowledge your effort”

– Kim Seokjin.

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”), Securities and Exchange Board of India (“SEBI”) and orders from National Company Law Appellate Tribunal (“NCLAT”).

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

1. MCA vide Circular dated January 09, 2023 set out the procedure for filing e-Form GNL-2 and e-Form MGT-14 in the course of the said forms being unavailable for filing on the MCA portal.
2. SEBI vide Circular dated January 10, 2023 laid down certain modification to the comprehensive framework on Offer for Sale (OFS) of shares through Stock Exchange Mechanism.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 09th to January 13th, 2023.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

MCA

1. MCA vide Circular dated January 09, 2023 set out the procedure for filing e-Form GNL-2 and e-Form MGT-14 in the course of the said forms being unavailable for filing on the MCA portal
2. MCA vide Circular dated January 09, 2023 issued a release plan of 45 company e-Forms in MCA 21 Version 3

SEBI

1. SEBI vide Circular dated January 11, 2023 granted permission to the Stock Exchanges to launch multiple contracts on the same commodity in the commodity market segment
2. SEBI vide Notification dated January 09, 2023 amended the Alternative Investment Funds (“AIF”) Regulations
3. SEBI vide Circular dated January 10, 2023 laid down certain modification to the comprehensive framework on Offer for Sale (OFS) of shares through Stock Exchange Mechanism
4. SEBI vide Notification on January 09, 2023 notified the SEBI (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2023
5. SEBI vide Circular on January 10, 2023 issued introduction of future contracts on Corporate Bonds Indices
6. SEBI vide Circular dated January 10, 2023 issued change in control of Portfolio Managers providing co-investment services
7. SEBI vide Circular dated January 09, 2023 issued Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof 

JUDGEMENTS/ ORDERS

NCLAT

1. NCLAT upholds appeal filed by the company for restoration of the name under the Companies Act, 2013