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Swift e-Bulletin

Introduction

Edition 44th 21-22

Week –February 07th to February 11th

Quote for the week:

"I’m too busy working on my own grass to notice if yours is greener.”

– Unknown

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”), Reserve Bank of India (“RBI”), Ministry of Corporate Affairs (“MCA”) and orders passed by the SEBI, High Court and Supreme Court.

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

  1. MCA issue notification for Companies (Accounts) Amendment Rules, 2022.
  2. SEBI issue Circular on Conversion of Private Unlisted InvIT into Private Listed InvIT.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of February 07, 2022 to February 11, 2022.

 

Thank you,

Swift team


Table of Contents

REGULATORY UPDATES

MCA

  1. MCA issue notification for Companies (Accounts) Amendment Rules, 2022

SEBI

  1. SEBI issue circular on Framework for conversion of Private Listed InvIT into Public InvIT
  2. SEBI issue Circular on Conversion of Private Unlisted InvIT into Private Listed InvIT
  3. SEBI issue circular on Audit Committee of Asset Management Companies (AMCs)

RBI

  1. RBI issues master Circular on Asset Reconstruction Companies to have all current instructions/ guidelines on the subject at one place

JUDGEMENT/ORDERS

SEBI

  1. SEBI imposed penalty on Employee of the Company on account of failure to make disclosure under PIT regulations

HIGH COURT

Delhi High Court dismisses the appeal made by Evergreen Landmark Private Limited as unmerited for not accepting to adjust the arrears of rent from the security deposit

SUPREME COURT

  1. Supreme Court allows the appeal filed by Jaina Construction Company, affirming the order of the State Commission

 

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About Swift

Swift India Corporate Services LLP (“Swift”) (Formerly known as SwiftIndiaInc Corporate Services Private Limited) established in the year 2005, is an associate entity of Nishith Desai Associates — Legal & Tax Counseling Worldwide (legal and tax consulting firm).

We are a team of professionals with rich corporate, legal and secretarial backgrounds. We are a premier corporate compliance firm that caters to the needs and demands of our global clients. Swift aims to provide quick and pragmatic corporate solutions alongside high-quality compliances.

  


 

Swift India Corporate Services LLP

 

Regd. Office: 91-92 B, Mittal Court, Nariman Point, Mumbai 400 021, India

LLPIN: AAH-4705, registered under the Limited Liability Partnership Act, 2008

Tel +91 22 6669 5000, Fax +91 22 6669 5001

 


www.swiftindiallp.com