Introduction

Edition 42^ND 21-22

Week – January 24th to January 28th

Quote for the week:

“You only have to do a few things right in your life so long as you don’t do too many things wrong.”      

– Warren Buffett.”

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 orders passed by the National Company Law Appellate Tribunal (NCLAT), SEBI, High Court and Supreme Court.

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

1. SEBI issue Circular on issuance of securities in dematerialized form in case of Investor Service Requests.
2. SEBI issue Circular on introduction of Special Situation Funds as a sub-category under Category I AIF.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 24, 2022 to January 28, 2022.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

SEBI Updates

1. SEBI issue Circular on issuance of securities in dematerialized form in case of Investor Service Requests
2. SEBI issues Circular on introduction of Special Situation Funds as a sub-category under Category I AIFs
3. Amendment to SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations 2003

JUDGEMENTS/ ORDERS

SEBI

1. SEBI imposes penalty for employee of the Company on failure to make relevant disclosure under PIT Regulations

HIGH COURT

1. M/s. Kanodia Technoplast Limited files petition against the application filed by M/s. A.P. Trading Company with the NCLT to claim an amount of INR 8.56 Crores in default

SUPREME COURT

1. Parties to the Petition were directed to take steps to carry out the arbitration proceeding in terms of Singapore International Arbitration Centre (SIAC)