Corporate and Legal Alert
In this edition, we have tried to bring you to notice the latest amendment that followed in the month of May 2022 issued by MCA, RBI, SEBI, DIPP and others.
Amendments issued by MCA
Relaxation in paying additional fees in case of delay in filling all the event
Relaxation in paying additional fees in case of delay in filling all the event-based e-forms by LLPs which are due on and after 25th February 2022 to 31st May 2022 up to 30th June 2022
To read more:
https://www.mca.gov.in/bin/dms/getdocument?mds=%252Bq7Wbf7AGhkscHXpOcxhgQ%253D%253D&type=open
Amendments issued by SEBI
Standard Operating Procedures (SOP) for dispute resolution under the Stock Exchange arbitration mechanism for disputes between a Listed Company and/or Registrars to an Issue and Share Transfer Agents (RTAs) and its Shareholder(s)/Investor(s)
Regulation 40 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, and bye-laws, listing agreements & regulations of the stock exchanges provide for dispute resolution under the stock exchange arbitration mechanism for disputes between a listed company and its shareholder(s)/ investor(s).
SEBI vide circular dated April 08, 2022, advised Exchanges to put in place a Standard Operating Procedure (SOP) for operationalizing the resolution of all disputes pertaining to or emanating from investor services such as transfer/transmission of shares, Demat/remat, issue of duplicate shares, transposition of holders, etc. and investor entitlements like corporate benefits, dividend, bonus shares, rights entitlements, credit of securities in the public issue, interest /coupon payments on securities, etc
To read more:
Amendments issued by RBI
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit – Extension
The government has issued a clarification that the extended IES will also be available to such beneficiaries for segments other than for which they have availed of PLI benefits.
To read more:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12327&Mode=0
IRDAI
Motor Third Party Premium and Liability Rules for the Financial Year 2022-23
Motor Third Party Premium and Liability Rules for the Financial Year 2022-23 were published, as required by subsection (1) of section 212 of the Motor Vehicle Act, 1988 (59 of 1988), vide notification of the Government of India in the Ministry of Road Transport and Highways, number G.S.R. 215 (E), dated the 17th March 2022 in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) inviting objections and suggestions from all persons;
To read more:
https://www.irdai.gov.in/ADMINCMS/cms/frmwhats_List.aspx
Ministry of Micro, Small & Medium Enterprises
The Ministry of Micro, Small & Medium Enterprises has extended the Credit Guarantee Scheme for Subordinate Debt up to March 31, 2022. The Credit Guarantee Scheme for Subordinate Debt was approved by the Government on June 01, 2020, and the scheme was launched on June 24, 2020, to provide credit facilities through lending institutions to the promoters of stressed MSMEs viz. SMA-2 (special mention accounts) and NPA (non-performing assets) accounts are eligible for restructuring as per RBI guidelines on the books of the Lending institutions. The Scheme is applicable for those MSMEs whose accounts have been standard as of 31.03.2018 and have been in regular operations, either as standard accounts or as NPA accounts during the financial year 2018-19 and financial year 2019-20. Fraud/ Wilful defaulter accounts will not be considered under the proposed scheme. Further, a personal loan will be provided to the promoters of the MSME units. The MSME itself may be Proprietorship, Partnership, Private Limited Company or registered company, etc.
To read more:
https://pib.gov.in/PressReleasePage.aspx?PRID=1805864