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January, 2025 - MMJC - Page 3
January 16, 2025
Materiality Dynamics: Policies Across Top Nifty Companies Explored
Introduction Regulation 23(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015 [‘SEBI (LODR)’] every listed entity shall formulate a policy on materiality of related party transactions and on dealing with related party transactions including clear threshold limits duly approved by the board of directors. Further as per clause (a)
January 16, 2025
Directors’ remuneration – Aligning it with shareholders expectation.
Introduction Under the Companies Act, 2013 (‘the Act’) and SEBI (Listing Obligations and Disclosure Requirements) Regulations (‘LODR’), the remuneration of directors is subject to shareholder approval. Specifically, Section 197 of the Act provides that directors remuneration shall be subject to shareholders approval. Similarly, Reg. 17(6) of LODR also requires that director remuneration is subject to approval by shareholders. Proxy
January 16, 2025
Warning Letter or Caution Letter Issued by SEBI – An Analysis
Introduction Securities and Exchange Board of India (‘SEBI’) vide its amendment notification dt: June 14, 2023, effective e from July 15, 2023, introduced regulation 30(13) in SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 [‘SEBI LODR’]. Regulation 30(13) reads as follows, “In case an event or information is required to be disclosed by the listed
January 16, 2025
Disclosure Under SEBI LODR of Fines and Penalties Levied – Making it Relevant
Introduction Securities and Exchange Board of India (‘SEBI’) had issued a consultation paper dt: November 12, 2022 wherein it was proposed inter-alia to add a provision mandating disclosures to stock exchanges of penalties levied on listed companies. This proposal was discussed and approved in the SEBI board meeting dt: March 29, 2023 and SEBI vide its
January 16, 2025
Analysis of Disclosures Made Relating to Change in Key Managerial Personnel, Directors and Senior Management.
Introduction: In adherence to the standards set forth by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [‘SEBI LODR’], listed companies are obligated to provide comprehensive disclosures to stock exchange regarding various appointments of senior management and key managerial personnel. While we are aware that Schedule III Part A,
January 16, 2025
Deciphering the Commencement of Unpublished Price Sensitive Information (UPSI)
In the labyrinth of insider trading regulations, the inception of Unpublished Price Sensitive Information (UPSI) serves as a critical focal point, yet its determination is far from straightforward and varies markedly from case to case. While conventional wisdom often ties UPSI’s genesis to the closure of the trading window, a deeper understanding reveals a more
January 16, 2025
BSE and NSE Mandates Updation of Corporate Groups by Listed Companies.
Introduction With the increased globalization, India Inc. has become as dynamic as never before. As a result, various regulators are working in tandem with each other to bring ease of doing business and making the life of India Inc. easy. In this article, we shall try to understand the Securities and Exchange Board of India
January 16, 2025
Annual Secretarial Compliance Report: Analysis of ASCR of top 100 listed companies
Background Regulation 24A of Securities Exchange Board of India (Listing obligation and disclosure requirement) regulation 2015 (‘SEBI LODR’) mandates listed companies to whom corporate governance provisions are applicable to submit Annual Secretarial Compliance Report (‘ASCR’) within 60 days of the end of the financial year to stock exchanges where shares of company are listed. The
January 16, 2025
Whether regulatory approvals would be considered as unpublished price sensitive information?
Background: Unpublished Price Sensitive Information [‘UPSI’] is any event or information which when publicly available would affect the price of the securities of the company materially. Certain events or information undertaken by listed entities require approval of regulators or financial institutions or third-party approvals under contractual arrangement. These approvals are sometimes taken post approval of
January 16, 2025
SEBI Compliance Unveiled: Non- Standard Disclosures of KMP Resignation amid SEBI’s Regulatory Framework
Introduction Securities and Exchange Board of India [‘SEBI’] had released a consultation paper dt: November 12, 2022, inter-alia proposing to mandate disclosures pertaining to senior management. The objective behind mandating disclosures pertaining to senior management was that since the details of senior management were required to be disclosed at the time of filing of public