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July, 2024 - MMJC
July 31, 2024
Consultation Paper on proposed amendments SEBI PIT Regulations to rationalize the scope of the expression ‘connected person’, while not increasing compliance requirements
Consultation Paper on proposed amendments to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 to rationalize the scope of the expression ‘connected person’, while not increasing compliance requirements The Securities and Exchange Board of India (‘SEBI’) via consultation paper dtd July 29,2024 has proposed amendments to the Securities and Exchange
July 23, 2024
Budget 2024 skips review of the 45-day payment rule for MSMEs
Union Budget 2024: Even as the Union Budget 2024-25 announced a slew of measures aimed at boosting micro, small and medium enterprises, it gave a miss to an expected review of the new rule that mandates payments to these businesses within 45 days of receiving the good or service. “It is a welcome move for
July 22, 2024
“FIT & PROPER” Impact on Scheme of Mergers & Demergers
Introduction Scheme of mergers, demergers, and various other arrangements (herein after “Corporate Restructuring”) involving listed entities are seen increasing at a greater pace in recent times. Listed entities involved in scheme of arrangement have to seek No Objection letter from stock exchanges[i]. Corporate Restructuring involving listed entities which are SEBI Registered Intermediaries and certain individuals
July 19, 2024
Changes in forms MGT-6 and BEN-2 – An overview
Introduction. The Ministry of Corporate Affairs (‘MCA’) has been relentlessly striving to make the life of corporates easier by reducing the complexity of legal compliances. One such effort taken by MCA is, shifting of important e-forms to MCA V3 portal. Under this ongoing process of shifting the e-forms to new portal, MCA has shifted three
July 19, 2024
Debt listed Companies now allowed to Publish the financial results As QR Code
The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’) lays down the provisions for effective corporate governance and fair disclosures by listed companies in India. On July 8, 2024, SEBI vide its SEBI LODR (Second amendment) regulation 2014 [LODR second amendment’] notified an amendment providing an option to debt-listed
July 18, 2024
MCA streamlines IEPFA-related reporting, revamps forms
Corporate Affairs Ministry (MCA) has streamlined reporting of payments or transfer of securities under the Investor Education and Protection Fund Authority (IEPFA) administered framework, improving the overall filing experience for companies. Makarand M Joshi, Founder, MMJC and Associates – a corporate compliance firm ,said that the IEPF forms have now been aligned with the prevailing legal
July 17, 2024
MCA allows multiple KYC updates throughout the year for directors
In a big relief to professional directors who switch organizations mid-year or businesses that undergo global restructuring, the Ministry of Corporate Affairs (MCA) has allowed the KYC form to be filed multiple times for any change in email ID or mobile number throughout the year, through its latest notification.MCA’s notification dated July 16 said, “….if
July 16, 2024
MMJC Insights
This issue of MMJC Insights covers news updates/amendments and the following articles: Shareholding v/s Beneficial Ownership Role of Compliance Officer – Relevance of Standard Operating Procedures for compliance under SEBI (PIT) Regulations 2015 Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) Breaking Barriers: Advancing Gender Equality in India Inc. through
July 13, 2024
CTC – June 2024
The June issue of the CTC journal covers the following cases: In the matter of Iskon Infra Engineering Pvt Ltd (Appellant) vs. Central Bank of India Respondent at the National Company Law Appellant Tribunal (NCLAT) dated 1 April, 2024 In The Matter of Hiran Valiyakkil Lal and Others vs. Hardoll Enterprises LLP, and Others. NCLT
July 13, 2024
Expert Committee for Facilitating Ease of Doing Business and Harmonization of ICDR and LODR Regulations
The Securities and Exchange Board of India (‘SEBI’) constituted an Expert Committee on August 24, 2023, under the chairmanship of Shri S.K. Mohanty. The primary objective of this Committee being to facilitate ease of doing business for listed entities in India by harmonizing the provisions of the Issue of Capital and Disclosure Requirements (‘ICDR’) and