Introduction

Edition 20/20-21

Week – November 30th to December 4th

Quote for the week:

"Too many of us are not living our dreams because we are living our fears."

  - Les Brown

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.

In the wake of COVID-19, we all are witnessing many relaxations, exemptions and amendments to the various legislations by regulatory authorities to ease out the operations during this time of crisis.

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”) and the Securities and Exchange Board of India (“SEBI”), and critical judgements and orders passed by the National Company Law Tribunal (“NCLT”), SEBI, Supreme Court and High Court.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of November 30, 2020 to December 4, 2020.

Thank you,

Swift Team

Table of Contents

REGULATORY UPDATES.

Ministry of Corporate Affairs.

1. MCA further relaxes additional fees and extends last date of filing of CRA-4 (form for filing cost audit report) for Financial year 2019-20 under the Companies Act, 2013 vide General Circular No 38/2020 dated December 01, 2020

Securities and Exchange Board of India.

1. SEBI relaxes timelines for compliance with regulatory requirements vide Circular dated December 01, 2020 
2. SEBI lays down operational guidelines for Transfer and Dematerialization of re-lodged physical shares vide circular dated December 02, 2020

JUDGEMENTS/ ORDERS. 

National Company Law Tribunal

1. National Company Law Tribunal allows the Restoration of Skytone Foods Private Limited  7

Securities and Exchange Board of India.

1. Adjudication Order in respect of Rays Global Corporation in the matter of Karuturi Global Limited  8

High Court

1. Delhi High Court accepts the petition for encashment of the Fixed Deposit Receipt from State Bank of India  9

Supreme Court

1. Supreme court held that the provisions of the EPF Act are applicable to a private security agency engaged in the expert service of providing personnel to its client, if it meets the requirement of the EPF Act.