Introduction

Edition 40th 21-22

Week – January 10th to January 14th

Quote for the week:

“Whenever you find yourself on the side of the majority, it is time to pause and reflect.”

– Mark Twain

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 Reserve Bank of India (“RBI”), Securities and Exchange Board of India (“SEBI”), International Financial Services Centers 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 vide a press release dated January 12, 2022 grants recognition to CDSL Ventures Limited as an Accreditation Agency.
2. MCA amends e Companies (Registration Offices and Fees) Rules, 2014 vide notification dated January 11, 2022.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 10, 2022 to January 14, 2022.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

MCA UPDATES

1. MCA amends Companies (Registration Offices and Fees) Rules, 2014 vide notification dated January 11, 2022
2. MCA appoints July 1st, 2022 as the date on which the provisions of second and third proviso to clause (i) of section 80 of Companies (Amendment) Act, 2017 and section 56 of Companies (Amendment) Act, 2020 respectively shall come into force

SEBI UPDATES

1. SEBI issues Framework for operationalizing the Gold Exchange in India vide Circular dated January 10, 2022
2. SEBI vide a Press Release dated January 12, 2022 grants recognition to CDSL Ventures Limited as an Accreditation Agency

JUDGEMENTS/ ORDERS

HIGH COURT

1. Sole Arbitrator was appointed by the Delhi High Court by allowing the petition filed by Lava International Limited

 SUPREME COURT

1. Aggrieved and dissatisfied by the judgement passed by the High Court of Punjab and Haryana at Chandigarh, Haryana Tourism Limited filed appeal against M/s Kandhari Beverages Limited