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Swift e-Bulletin

Introduction

Edition 44th 22-23

Week – February 13th to February 17th

Quote for the week:

“Living without passion is like being dead.”

– Jeon Jungkook.

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 Reserve Bank of India (“RBI”), Securities and Exchange board of India (“SEBI”) and International Financial Services Centres Authority (“IFSCA”) and orders by Supreme Court and SEBI.

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

  1. RBI vide Notification dated February 16, 2023 notified Introduction of Foreign Contribution (Regulation) Act (“FCRA”) related transaction code in NEFT and RTGS Systems.
  2. SEBI vide Circular dated February 15, 2023 introduces issue summary document and dissemination of issue advertisements.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of February 13th to February 17th, 2023.

 

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

RBI

  1. RBI vide Notification dated February 16, 2023 notified Introduction of Foreign Contribution (Regulation) Act (“FCRA”) related transaction code in NEFT and RTGS Systems

SEBI

  1. SEBI vide Circular dated February 15, 2023 introduces issue summary document and dissemination of issue advertisements
  2. SEBI vide Notification dated February 14, 2023 amended SEBI (Real Estate Investment Trusts) and SEBI (Infrastructure Investment Trust) Regulations
  3. SEBI vide Circular dated February 15, 2023 mandates certain information to be published by stockbrokers (SB) /depository participants (DP) on their respective websites

IFSCA    9

  1. IFSCA issued FAQs dated February 14, 2023 on Milestones & Illustrative Permissible Expenses for Reimbursement under IFSCA (FinTech Incentive) Scheme, 2022

JUDGEMENTS & ORDERS

SEBI

  1. Adjudication Order in the matter of Credence Sound and Vision Limited for not obtaining SEBI Complaint Redressa System authentication

 

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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