Newsletter - MMJC - Page 24

Securities and Exchange Board of India [“SEBI” or “Board”] vide its Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth amendment) Regulations, 2022 [LODR Sixth amendment] amended certain provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI LODR]. An analysis of these amendments is presented

Background: As per Section 132 of the Companies Act, 2013 read with National Financial Regulatory Authority (NFRA) Rules, 2018, certain companies and other entities as prescribed in these NFRA Rules and their auditors are governed by NFRA. NFRA 2 – Compliance MCA has prescribed Form NFRA-2 as the Annual Return which is to be filed

The Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular No. 16 dated September 30, 2022 has revised the matrix for calculation of late submission fee (LSF) for reporting delays under FEMA with immediate effect. Earlier regime The concept of LSF was introduced for delayed reporting under various functions as below: Sr. No. Provision/Function

Introduction: Ministry of Corporate Affairs (MCA) has amended Companies (Incorporation) Rules, 2014, wherein Form INC-9 i.e. Declaration to be given by Subscribers and First Directors at the time of incorporation and Form INC-32 (SPICe+) to be filed for incorporation has got modified to enforce the amendment made in FEMA (Non-Debt Instruments) Rules, 2019 in April

Background The Ministry of Corporate Affairs (MCA) has permitted holding of Annual General Meeting (AGM) through electronic mode till 31 December 2022. This relaxation includes a leeway from sending hard copies of annual reports. But a question arises that whether listed entities are exempted from sending hard copies of annual reports for FY22 based on

Background Section 403 deals with the filing fees to be paid on any document required to be submitted, filed, registered, or recorded under the Companies Act, 2013 (‘the Act’). Before Companies (Amendment) Act, 2017 (CAA, 2017), proviso to Section 403 mentioned that after the time specified in the relevant section under the Act for filing

The term Key Managerial Personnel (KMP) is defined under the Companies Act, 2013 (the Act), SEBI Listing Obligations and Disclosure Regulations (LODR), and under the SEBI Issue of Capital and Disclosure Regulations (ICDR). The term KMP under the Act and the SEBI LODR covers Managing Director (MD), Chief Executive Officer (CEO), Whole-time Director (WTD), Chief

Unpublished Price Sensitive Information (‘UPSI’) means any information, relating to a company or its securities, directly or indirectly, that is not generally available which upon becoming generally available, is likely to materially affect the price of the securities and shall, ordinarily including but not restricted to (i) financial results; (ii) dividends; (iii) change in capital