Newsletter - MMJC - Page 3

Ministry of Corporate Affairs recently came out with Notification No. G.S.R 555(E). dated 9 September 2024 allowing Foreign Holding Company to merge in Indian Wholly Owned Subsidiary Company with RBI Approval and following the Process under section 233 of the Companies Act, 2013 and rule 25 and 25A of Companies (Compromises, Arrangements and Amalgamations) Rules,2016.

The Ministry of Finance on 12 September, 2024 had notified Foreign Exchange (Compounding Proceedings) Rules, 2024 (herein after referred to as “the Rules”) in suppression of Foreign Exchange (Compounding Proceedings) Rules, 2000. The major modifications introduced by the ministry through the Rules include: 1, Revision in the limits/ designations of RBI officials to decide on

The Securities and Exchange Board of India (SEBI), through a consultation paper dated August 29, 2024, seeks public feedback on the necessity of maintaining records of mandatory communications by entities regulated by SEBI. Currently, SEBI-regulated entities are required to communicate various types of information to stakeholders. However, only a limited category of these communications must

The Securities and Exchange Board of India (‘SEBI’) vide consultation paper dated September 3,2024 aims to gather public feedback on proposed changes to the SEBI Informal Guidance Scheme, 2003. The proposed revisions are intended to expand the scheme’s scope, adjust the fees, and streamline various processes. The SEBI Informal Guidance (IG) Scheme was introduced in

Introduction: SEBI vide its circular dated August 22, 2024[1] bearing no. SEBI/HO/DDHS/DDHS-PoD-2/P/CIR/2024/114 (“Amendment Circular”) has made an amendment in the Securities and Exchange Board of India Master Circular for Infrastructure Investment Trusts (InvITs) (“Master Circular”) dated May 15, 2024. SEBI vide its consultation paper dated May 09, 2024 had invited comments from the public on

The Securities and Exchange Board of India (SEBI) issued a Consultation Paper (‘CP’) on August 22, 2024 seeking public comments on the clarification of the term “pecuniary relationship” in the context of eligibility of a DT to provide DT services. Background Under Regulation 13A of the DT Regulations an entity cannot be appointed as a DT if: a). Regulation 13A:

Consultation Paper on measures towards Ease of Doing Business and streamlining compliance requirements for Non- Convertible securities – review of LODR Regulations Background Hon’ble Finance Minister in her consecutive budget speeches had proposed to increase depth of debt market and had also asked all regulators to bring in ease of doing business though consultative approach.

Consultation  paper  on proposal to Replace ‘Consent Letter’ with ‘Debenture Trustee Agreement’ under the NCS Regulations, 2021 The Securities and Exchange Board of India (‘SEBI’), through its consultation paper dated August 17, 2024, has proposed an amendment to the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (‘NCS Regulations’).

Securities Exchange Board of India (‘SEBI’) vide its circular dtd August 5,2024 has come up with Consultation Paper proposing to streamline and reduce timelines of bonus issue enabling T+2 trading of shares post record date (T Day). Existing provision: Presently, as per regulation 295(1) of SEBI (Issue of Capital and disclosure requirement) (‘ICDR’) regulation 2018

Introduction: One among the multiple objectives of adopting technology by Ministry of Corporate Affairs (MCA) is, to reduce human intervention in the process and make it smoother and more efficient. One step taken in this regard by MCA is introduction of CPACE for processing the strike off applications of the companies. MCA has now given