Introduction

Edition 22/21-22

Week – August 30th to September 03rd

Quote for the week:

“Big companies have small moves, small companies have big moves.”   

  -Peter Lynch

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”) and critical judgements and orders passed by the SEBI, High Court and Supreme Court.

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

1. SEBI provides for extension of time for seeking membership of BSE Administration & Supervision.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of August 30, 2021 to September 03, 2021.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

SEBI UPDATES

1. SEBI provides for extension of time for seeking membership of BSE Administration & Supervision Limited vide Circular dated August 31, 2021
2. SEBI revises guidelines for Liquidity Enhancement Scheme in the Equity Cash and Equity Derivatives Segments vide Circular dated September 01, 2021
3. SEBI amends its Circular dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism vide Circular dated September 02, 2021
4. SEBI introduces measures to align interest of Asset Management Companies (‘AMCs’) with the Unitholders of the Mutual Fund Schemes vide Circular dated September 02, 2021

JUDGEMENTS/ ORDERS

SEBI

1. SEBI imposed penalty on for violating LODR regulations
2. SEBI restrain the M/s Achal Investments Ltd from accessing securities market for Mis-utilization of funds raised through preferential issue

HIGH COURT

1. Delhi High Court considers the two certificates issued by M/s Torrent Power Limited as liable to be included in the cumulative work experience

SUPREME COURT

1. Appeal filed by Supertech Limited basis the Judgement of the High Court directing the demolition of Twin Towers T-16 & T-17