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Swift e-Bulletin

Introduction

Edition 21th 23-24

Week – September 18th to September 23th 

Quote for the week:

“People succeed when others say negative things”

–  Kim Seokjin (Member of music band; Bangtan Sonyeondan)

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 Securities and Exchange Board of India (“SEBI”), Reserve Bank of India (“RBI”) and Insolvency and Bankruptcy Board of India (“IBBI”)

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

  1. IBBI vide Notification dated September 18, 2023 amended the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations.
  2. IBBI vide Circular dated September 18, 2023 amended and issued Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2023.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of September 18th to September 23th.

Thank you,

Swift team


REGULATORY UPDATES

SEBI

  1. SEBI vide Circular dated September 20, 2023 issued redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to Online Dispute Resolution Platform
  2. SEBI vide Press Release dated September 21, 2023 discussed and approved various frameworks

IBBI

  1. IBBI vide Circular dated September 18, 2023 amended and issued Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2023
  2. IBBI vide Notification dated September 18, 2023 amended the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations
  3. Press Release on Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations
  4. IBBI vide Notification dated September 18, 2023 amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations

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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