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September, 2022 - MMJC
September 29, 2022
Changes introduced by the CSR Amendment Rules 2022
Corporate Social Responsibility (“CSR”) is mandatory in India for companies exceeding certain thresholds of net worth, turnover or profits. On September 20, 2022 the Ministry of Corporate Affairs (MCA/Ministry) notified various amendments to the Companies (Corporate Social Responsibility Policy) Rules, 2014. The amendments and its practical implications are as follows: 1. CSR Committee Section 135(9)
September 24, 2022
Reducing Compliance Burden – Widening of Small Companies Definition
1. Introduction: The Companies Act, 2013 has categorized certain companies into smaller companies based on their paid-up capital and turnover thresholds, so as to give various relaxations from compliance. These thresholds have now been widened to accommodate more companies under the ‘small company’ bracket. 2. Amendment: On 15th September 2022 Ministry of Corporate Affairs (“MCA”)
September 23, 2022
Centre Relaxes Paid-Up Capital Threshold For “Small Companies”
The Corporate Affairs Ministry (MCA) had relaxed the paid-up capital threshold for small companies to decrease the compliance burden and enhance the ease of doing business. According to our Partner, Makarand Joshi – “The relaxation in paid-up capital will allow around 80-90 percent of the total registered companies to fall under this category. Apart from
September 23, 2022
Adani Encumbers $13 Billion Stake in Newly Bought Cement Units
Billionaire Gautam Adani’s group set aside shares valued at about $13 billion in two Indian cement firms as part of a lending agreement. Stakes in two of those companies — about 57% of ACC Ltd. and 63% in Ambuja Cements Ltd. — have been encumbered “for the benefit of certain lenders and other finance parties,”
September 23, 2022
CSR exemption for firms making losses; eligibility to be checked every year
Ministry of Corporate Affairs (MCA) has amended the CSR rules by relaxing certain provisions while giving more impetus to impact assessment for companies falling under the CSR ambit. The amended rules have given relaxation to large companies doing CSR and who are mandatorily required to undertake impact assessment. Amended rules now allow up to 2%
September 22, 2022
The advent of the Social Stock Exchange (SSE) in India
The advent of the Social Stock Exchange (SSE) in India The manoeuvre towards setting up an SSE began in July 2019, when India’s Finance Minister proposed the same as a way to elevate capital, through debt, equity or mutual funds, for enterprises working to advance social welfare. The establishment of SSE is under the jurisdiction of the
September 10, 2022
MMJC Insights
Bombay Stock Exchange (‘BSE’) and National Stock Exchange (‘NSE’) mandates use of Digital Signature for filings on stock exchanges Best Practices on Investor / Analyst Call – Guidance by BSE & NSE SEBI mulls for system-driven trading window closure Pending QIP Issue, its pricing and probable impact on the share capital of the company is
September 8, 2022
MMJC Insights dated 8 Sept, 2022
This issue of MMJC covers the following: Company book-keeping Rules in electronic mode tightened by MCA New version of form DPT-3 becomes more demanding! Govt amends rules for physical verification of Cos’ registered office addresses Amendment in Charge related forms and Directors’ KYC-related forms as MCA filings go web based!! Admission of Application by NCLT
September 1, 2022
The Chamber of Tax Consultants – August 2022
August issue of CTC covers the following: Independent Directors would be assumed to be aware of misconduct by the company if it’s attributable through public news about the misconduct by the company – Order of Adjudicating Officer of Securities and Exchange Board of India – Name of Case: In the matter of Dish TV India