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Knowledge Hub - MMJC - Page 24
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
June 7, 2023
MMJC Insights
This issue of MMJC insights covers the following: Changes to Form DPT 3: Precautions auditor needs to keep in mind while affixing the DSC Online Gaming – Skill or Gambling Form OPI for reporting Overseas Portfolio Investment Highway to fast rack mergers through Companies (Compromises, Arrangements and Amalgamations) Amendment Rules 2023 The transition to XBRL
May 30, 2023
CTC Publications – May
The May edition of the Chamber of Tax Consultants covers the following: Delhi High Court order – In the matter of TEQ GREEN POWER PRIVATE LIMITED (petitioner) versus REMC LIMITED (respondent) dated 21 March, 2023 The adjudication order of SEBI – in the matter of Shilpi Cable Technologies Limited. In the matter of M/s. Punjabi
May 23, 2023
ED’s probe against BBC India: How it questions the validity of FEMA over its own ..
In March 2023, ED initiated a probe against BBC India for FDI cap breach under the Foreign Exchange Management Act (FEMA). Article Published in ETCFO delves into the the question can ministry clarifications via circulars which override regulations? An article published by ETCFO – written by Partner – Makarand Joshi Read more at:https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/eds-probe-against-bbc-india-how-it-questions-the-validity-of-fema-over-its-own-rules/100409801
May 19, 2023
SEBI tightens norms for price sensitive information after study finds corporates flouting rules.!
Market regulator SEBI proposes to tighten norms for Unpublished Price Sensitive Information (UPSI) after it found a large number of corporates flouting current rules. “This would be U-turn from the correction SEBI had made in 2019 and the industry may need some time to set up a framework to identify UPSI as it is an
May 18, 2023
Centre announces 60-day time limit for approval of mergers!
In a bid to expedite mergers, MCA announces a 60-day time limit for approval of mergers or amalgamations. “The amendment will improve the disposal rate of fast-track mergers and in turn, facilitate ease of doing business as it prescribes a time frame of a maximum of 60 days for the Regional Director under the MCA
May 15, 2023
MMJC Insights
MMJC insights issue dated 15 May, 2023 consists of following: Index Sr. No Particulars MCA Corner 1. Introduction of C-Pace Restructuring 2. Withdrawal of the scheme of merger and ultimate exercising authority SEBI Corner 3. High Value Debt Listed Entities: Anomalies for Disclosures in Annual Report 4. Introduction of Legal Entity Identifier (LEI) for issuers
May 4, 2023
SEBI Bars Karvy Stock Exchange
The Securities and Exchange Board of India (Sebi) has barred Karvy Stock Broking (KSBL) and its chairman from accessing the securities market for seven years in a final order issued by SEBI. Alongwith Chairman – Independent directors – have been similarly restrained for two years and have been asked to pay a penalty of Rs 5 lakh