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Knowledge Hub - MMJC - Page 23
October 3, 2022
Uniformity for delayed reporting – Imposition of Late Submission Fee (LSF) under the Foreign Exchange Management Act, 1999 (FEMA)
The Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular No. 16 dated September 30, 2022 has revised the matrix for calculation of late submission fee (LSF) for reporting delays under FEMA with immediate effect. Earlier regime The concept of LSF was introduced for delayed reporting under various functions as below: Sr. No. Provision/Function
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
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
August 27, 2022
Another Step towards simplification – Overseas investment rules and regulations notified
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August 9, 2022
MMJC Insights dated 9 August, 2022
This issue of MMJC insights dated 9 August 2022 covers the following: Stock exchanges advise to reconcile investor complaints thoroughly Confirmation about website compliance to be given to NSE NSE prescribes new documents to be filed on its new digital platform XBRL was introduced for filing BRSR reports with stock exchanges Composition of Audit Committee,