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February 20, 2022

The Chamber of Tax Consultants – February 2022

This covers the following cases: Independent Directors held liable for excessively relying on whole time directors and not having independent checks – Final Order of the Whole Time Member in the matter of Coral Hub Ltd Whether an authority to appoint nominee director and the power of affirmative vote make the creditor a related party?

February 18, 2022

MMJC Insights dated 18 February 2022

This issue of MMJC insights dated 18 February 2022 covers the following: Report on Corporate Social Responsibility in e-form CSR-2. Critical Aspects Post Merger/Amalgamations under the Companies Act, 2013 An important case in which the court has highlighted that the interest of shareholders is of utmost importance and that exemptions granted by way of notification

February 17, 2022

SEBI Board makes separation of Chairperson, MD/CEO roles voluntary not mandatory; cites lack of compliance

The opinion of our partner – Mr. Makarand Joshi about SEBI’s decision w.r.t. separation of position was covered in Money Control, Business World, Live Mint, Economic Times, Financial Express & Aisa Pacific. The existing corporate governance framework is very strong and day by day enforcement is also becoming stronger. Hence, the separation of MD and Chairman

February 7, 2022

MMJC Insights dated 7 February, 2022

This issue of MMJC insights dated 7 Feb, 2022 covers the following: Amendment to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015. SEBI Circular on issuance of Securities in Demat form while processing investor service requests Applicability of formats for filing of Corporate Governance reports by High Value Debt

February 3, 2022

The Chamber of Tax Consultants – January 2022

This covers the following cases: An interesting case in which Independent Directors penalised for not being vigilant members of audit committee and board. Change in the secured creditors does not lead to a change in the scheme of the company and that if the company application has been made prior to such change the NCLT

February 3, 2022

The Evolving ESG Reporting Landscape

Recently, Prime Minister Shri Narendra Modi, in his address at the COP26 global climate summit in Glasgow, shared India’s commitment to climate change mitigation and its transition to a net-zero economy by 2070. It is expected that India will put climate change at the center of decisions while outlining any regulatory policies. Businesses need to prepare

January 25, 2022

SEBI to allow only accredited entities to provide ESG Rating

Recently, SEBI has issued a Consultation Paper on Environmental, Social, and Governance (ESG) Rating Providers for Securities Markets and proposes to accredit ESG Rating Providers (ERP)s for the purpose of assigning ESG ratings. Our Partner Makarand Joshi shared his views – This initiative will give a lot of transparency and confidence on the impact made by ESG

January 17, 2022

MMJC Insights dated 15 Jan, 2022

This issue of MMJC insights dated 15 Jan, 2022 covers the following: MCA Recent amendment on Higher Additional Fees for delayed filings of Form PAS-3 and INC-22. SEBI Circular dated 29 Dec, 2021 on Non-compliance with provisions relating to continuous disclosures SEBI circular dated 03 Jan,2022 on Scheme of Arrangement by Listed Entities An

January 4, 2022

MMJC INSIGHTS

This issue of MMJC insights dated 30 Dec, 2021 covers the following: Whether the Bank can be considered as a ‘Financial Creditor’ on account of its housing loans to the allottees who have purchased Flats/units in the Real Estate Project. An interesting case of Zee Entertainment Enterprises Ltd on violation of sec 203 and compliance