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June, 2023 - MMJC
June 30, 2023
CTC Publication – June
The June edition of the Chambers of Tax Consultants covers the following: Adjudication Order of the ROC, Gujarat, Dadra & Nagar Haveli In the matter of M/s. Sun Pharmaceutical Industries Limited dated 28 April, 2023 Adjudication order of SEBI in the matter of CG Power and Industrial Solutions Limited dated 20 April, 2023 Supreme Court
June 30, 2023
MMJC Insights
This edition of MMJC insights dated 30 June, 2023 covers the following: SEBI notifies Annual Secretarial Compliance Report for Investment Managers of Infrastructure Investment Trusts (InvITs) SEBI notifies Compliance Report on Governance for Investment Managers of Infrastructure Investment Trusts (InvITs) SEBI Circular on online processing of investor service requests and complaints by Registrar and Transfer
June 28, 2023
Tribunals soliciting reassessment of bourses approval in Zee Sony Merger raises Investors Anxiety.
Introduction Stock exchanges play a crucial role in ensuring the fair and efficient functioning of capital markets. One important aspect of their responsibility is reviewing and approving schemes of arrangement proposed by companies. These schemes, often designed to facilitate corporate restructuring, mergers, acquisitions, and other significant changes in a company’s corporate structure. In addition to
June 21, 2023
MMJC Insights
This issue of MMJC insights dated 15 June, 2023 covers the following: Informal Guidance in the context of Related Party Transactions under SEBI LODR, Regulations 2015. Informal Guidance by Securities and Exchange Board of India on continuous applicability of provisions of Corporate Governance in the context of applicability of Business Responsibility and Sustainability Reporting Whether
June 19, 2023
Listing Obligations and Disclosure Requirements (LODR), 2015: Enhancing Transparency and Disclosure in Corporate Affairs
Listing Obligations and Disclosure Requirements (LODR), 2015: Enhancing Transparency and Disclosure in Corporate Affairs A. Introduction: On June 14, 2023, the markets regulator notified the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 (“LODR”). These amendments are in tandem with the consultation papers that were formerly released by SEBI. The objective of these
June 15, 2023
Annual Secretarial Compliance Report for FY 2022-23 now to be filed in XBRL Format
Annual Secretarial Compliance Report for FY 2022-23 now to be filed in XBRL Format Regulation 24A(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 provides that a listed entity shall submit an annual secretarial compliance report within 60 days from the end of financial year. SEBI vide circular
June 14, 2023
ROC’s Vigilance on Private Placement Provisions: Imposing Penalties on Non-compliant Companies
1. Introduction: There are multiple ways of raising funds: One amongst those is Private Placement. Whenever a company acquires finance from a specified group of persons against issuance of securities of the company, this corporate action is called private placement. The conditions and compliances relating to the private placement are discussed in section 42 of
June 12, 2023
Bharti Airtel, Adani Ports among 21 lossmaking companies to pay dividend
Prior approval of shareholders is mandatory if the dividend is declared out of general reserves. Despite making losses in FY23, some companies have recommended paying dividends, a matter that is subject to approval from shareholders. The promoter holding in these companies ranges from 33 percent to 75 percent, which means they will be the major
June 12, 2023
Governance in Mergers and Amalgamations
The Companies Act is a classic example of inbuilt Good Governance practices. Even 100 yearsbefore, the Companies Act 1913 was having provisions for the approval of the Court to reduce capital, etc. The principles behind drafting any provisions for Governance are the same even today. The structure and the language may be different. Logic is
June 12, 2023
The Triumphant Rise of ESG Compliances: Pioneering a Sustainable Future
The Triumphant Rise of ESG Compliances: Pioneering a Sustainable Future Introduction In a world plagued by unprecedented environmental challenges and social inequalities, a powerful movement has emerged, reshaping the landscape of business and finance. Enter the era of Environmental, Social, and Governance (ESG) compliances – a holistic approach that transcends mere profit-seeking and heralds a