Newsletter - MMJC - Page 2

Amendment in SEBI PIT relevant for entities having their equity and/or non-convertible securities listed. SEBI has approved to amend the definition of relative and connected person. Once notified following persons would be considered as ‘deemed connected persons’ additionally. These persons would be deemed to be in possession of UPSI or deemed to have access to

Securities and Exchange Board of India (Informal Guidance) Scheme, 2024 will replace the existing Securities and Exchange Board of India (Informal Guidance) Scheme 2003. Under the New scheme regulated entities such as stock exchanges, clearing corporations, depositories and managers of pooled investment vehicles registered with the Board would be eligible to seek informal guidance. For

Amendment relevant for companies proposing fundraising or require frequent fund raising: Rights Issue to be completed in 23 working days from the date of Issuer’s Board Meeting Approving Rights Issue, as against present average timelines of 317 days. Requirement of filing Draft Letter of Offer with SEBI has been done away with instead it will

Amendment in SEBI LODR relevant for entities having their non-convertible securities listed. Single Filing system: SEBI Board has given an in-principle approval for introduction of single filing system for listed entities to file relevant reports, documents etc. on one exchange which will be automatically disseminated at the other exchange(s). Actionable: BSE and NSE vide its

Amendment in SEBI LODR relevant for entities having their specified securities listed: 1. Single Filing system: The SEBI Board has given an in-principle approval for introduction of single filing system for listed entities to file relevant reports, documents etc. on one exchange which will be automatically disseminated at the other exchange(s). Actionable: BSE and NSE

Introduction: In its constant endeavour to bring ease of doing business, the Ministry of Corporate Affairs (MCA) has been in the process of shifting all the e-forms from V2 version of MCA portal to V3 version of the Portal wherein all the forms are in the format of web based forms. MCA has already shifted

Introduction: The Securities and Exchange Board of India (‘SEBI’) recently published a Consultation Paper on September 20, 2024, proposing amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR Regulations’). This amendment is focused on transitioning to a fully electronic mode of payment for dividend, interest, redemption, or repayment amounts by listed entities.

Introduction On September 24, 2024, the Securities and Exchange Board of India (‘SEBI’) issued a circular to streamline the application process for public issues of debt securities, non-convertible redeemable preference shares, municipal debt securities, and securitized debt instruments with that of public issue of equity shares and convertibles. The circular mandates the use of Unified

Introduction National Stock Exchange of India (‘NSE’), vide its circular dtd September 5, 2024 (‘Present Circular’) has come up with an additional disclosure requirement which has been addressed specifically to all listed entities on NSE EMERGE platform (‘Listed Entities’) listed w.e.f. April 1, 2023, onwards. The Present Circular has mentioned that every Listed Entity must

This article is relevant for those entities who have their equity and non-convertible securities and entities who have listed non-convertible securities only. Securities and Exchange Board of India (‘SEBI’) vide its amendments Notification No. SEBI/LAD-NRO/GN/2024/190 July 10, 2024 (‘July 2024 amendment’)[1], added a new sub regulation (7) to regulation 23 of SEBI (Issue and Listing