Introduction

Edition 37th 21-22

Week – December 20th to December 25th 

Quote for the week:

Don’t sit down and wait for the opportunities to come, get up and make them.

- Madam C.J. Walker

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 International Financial Service Center Authority (“IFSCA”), and critical judgements and orders passed by the National Company Law Tribunal (“NCLT”), High Court and Supreme Court.

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

1. SEBI permits Real Estate and Infrastructure Investment Trusts extension to conduct Annual Meetings of Unitholders through VC/OAVM till December 31, 2021, vide Circular dated December 22, 2021.
2. SEBI issues Circular for restoration of relaxed timelines w.r.t. validity of observation letter pertaining to Mutual Funds, vide Circular dated December 22, 2021

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of December 20, 2021 to December 25, 2021.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

SEBI UPDATES

1. SEBI introduces Portfolio Management Services for Accredited Investors, vide Circular dated December 21, 2021
2. SEBI introduces Investment Advisory Services for Accredited Investors, vide Circular dated December 21, 2021
3. SEBI permits Real Estate and Infrastructure Investment Trusts extension to conduct Annual Meetings of Unitholders through VC/OAVM till December 31, 2021, vide Circular date December 22, 2021
4. SEBI issues Circular for Restoration of relaxed timelines w.r.t. validity of observation letter pertaining to Mutual Funds, dated December 22, 2021

IFSCA UPDATES

1. IFSCA proposes regulatory fee structure for recognised stock exchanges in the IFSC

JUDGEMENTS/ ORDERS

1. SEBI imposed penalty on Noticee on default for no making disclosure unde SEBI SAST Regulations pursuants to the acquisition

National Company Law Tribunal

1. National Company Law Tribunal dispenses requirement of shareholders and creditors meeting as there were no secured and unsecured creditors

HIGH COURT

1. Cement Corporation of India, prays to set aside the order passed before and to declare the calculation of arbitration fees, as correct in its petition