Skip to main content

Posts

Showing posts from July, 2019

Quick Overview on G20 - 2023 India

  The 2023 G20 summit was held in New Delhi, India, on September 9-10, 2023. The main venue was the Pragati Maidan, a large exhibition complex in central Delhi. The summit was also held at other venues in New Delhi, including the Hyderabad House, the Prime Minister's residence, and the India International Centre. The 2023 G20 summit was attended by the leaders of the 20 member countries of the G20, as well as the leaders of several invited countries, including Argentina, Indonesia, Senegal, South Africa, and Turkey. The summit was also attended by the heads of international organizations, such as the United Nations, the World Bank, and the International Monetary Fund. The G20 Delhi Declaration was the outcome document of the 2023 G20 summit. It was a 38-paragraph document that covered a wide range of issues, including: The global economy and finance: The declaration called for continued efforts to strengthen the global economy and financial system. It also emphasized the importance
Post a Comment
Read more

NCLT Constitution of Benches

NCLT Constitution of Benches The list of constitution of National Company Law Tribunal benches for the purpose of exercising and discharging powers of the Tribunal has been provided. https://www.ibbi.gov.in/uploads/whatsnew/Constitution_of_Benches_at_All_NCLT_Locations
Post a Comment
Read more

List of LLPs to be struck off

List of LLPs to be struck off On 29.07.2019 Ministry of Corporate Affairs have issued a public notice stating names of 263 LLPs that are proposed to be removed/ struck off from the register of LLPs. These LLPs will be struck off within one month from the date of this public notice unless a cause is shown to the contrary. http://www.mca.gov.in/Ministry/pdf/NoticeLLP_29072019.pdf
Post a Comment
Read more

Form BEN 2 Date is extended upto September 30, 2019

Form BEN 2 Date is extended After several representations received regarding extension of the last date for filing of e-Form BEN-2 without additional fees, Ministry of Corporate Affairs has issued a general circular stating that the time limit for filing e-form No.BEN-2 is extended upto 30.09.2019 without payment of additional fee and thereafter fee additional fee shall be payable. http://www.mca.gov.in/Ministry/pdf/GeneralCircular_29072019.pdf
Post a Comment
Read more

Salient amendments affected by the Insolvency and Bankruptcy Board of India

The IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019 and the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 The Press Release contains salient amendments affected by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019. https://ibbi.gov.in//uploads/press/CIRP_&_Liquidation_-_Press_Release.pdf
Post a Comment
Read more

Streamlining the Process of Public Issue of Equity Shares and convertibles- Implementation of Phase II

Streamlining the Process of Public Issue of Equity Shares and convertibles- Implementation of Phase II of Unified Payments Interface with Application Supported by Block Amount This   refers   to   SEBI   circular   No.   SEBI/HO/CFD/DIL2/CIR/P/2018/138   dated November 1, 2018, vide which SEBI had introduced the use of Unified Payments Interface  (UPI)  as  a  payment  mechanism  with  Application  Supported  by Block Amount  (ASBA)  for  applications  in  public  issues  by  retail  individual investors through intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants),with effect from January 1, 2019. Implementation of the same was to be carried out in a phased manner to ensure gradual transition to UPI with ASBA. Accordingly,  Phase  II  of  the  aforesaid  Circular  dated  November  01,  2018  has become effective from July 1, 2019.Thereafter,for applications by retail individual investors through intermediaries, the ex
Post a Comment
Read more

Staggered Delivery Period in Commodity futures contracts

              Staggered Delivery Period in Commodity futures contracts Sebi fixed the minimum duration of the staggered delivery period at five working days for all commodity futures in order to bring uniformity in the timeline across exchanges. Staggered delivery period is the duration during which sellers or buyers having open position may submit an intention to give or take the delivery of the contract. All compulsory delivery commodity futures contracts (agriculture commodities as well  as  non-agriculture  commodities) shall have  a staggered  delivery period. https://www.sebi.gov.in/legal/circulars/jul-2019/staggered-delivery-period-in-commodity-futures-contracts_43702.html
Post a Comment
Read more

Guidelines for Liquidity Enhancement Scheme (LES) in Commodity Derivatives Contracts

Guidelines for Liquidity Enhancement Scheme (LES) in Commodity Derivatives Contracts Sebi eased the conditions for exchanges to provide incentives under liquidity enhancement schemes (LES). An exchange in early years of its formation/commencement of business may not be able to generate profits or have free reserves from business operations. In this regard, SEBI has decided to exempt such exchanges, during their first five years of operation. https://www.sebi.gov.in/legal/circulars/jul-2019/guidelines-for-liquidity-enhancement-scheme-les-in-commodity-derivatives-contracts_43699.html
Post a Comment
Read more

Director KYC

                                                   MCA Update *Director KYC* - _Director (appointment & qualification) 3rd Amendment Rules, 2019_ *_DIR KYC due date  will be 30th September_* *Late Fee - INR 5,000/-* *1.* _If all details of Director are same as on MCA portalas per last DIR-3KYC_,  then *web-based KYC* verification. *2.* In other cases *e-form DIR-3 KYC based* verification. *3.* As per the format of web based KYC format,  OTP requirements are not there. *Weblink:-*  http://www.mca.gov.in/Ministry/pdf/ThirdAmendRules_25072019.pdf http://www.mca.gov.in/Ministry/pdf/FourthAmedRules_25072019.pdf Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 have been notified w.e.f 25th July 2019. As per the said notification: i)eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his det
Post a Comment
Read more