17 Feb 2022

Corporate Compliance Calendar for the m/o January, 2022

Corporate Compliance Calendar for the m/o January, 2022

About Article:

This article contains various Compliance requirementsfor the Month of January, 2022under various Statutory Laws.

 

Compliance Requirement Under

1.Income Tax Act, 1961

2.Goods & Services Tax Act, 2017 (GST)and Important Updates / Circulars

3Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications

4. Companies Act, 2013 (MCA/ROC Compliance) and Notifications

5.Other Statutory Lawsand Updates

6.SEBI (Listing Obligations &DisclosureRequirements) (LODR) Regulations, 2015

7. SEBI Takeover Regulations 2011

8.SEBI (Prohibition of Insider Trading) Regulations, 2015

9.SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

10.SEBI (Buyback of Securities) Regulations, 2018

11. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications

12. Insolvency and Bankruptcy Board of India (IBBI) Updates

13. MSME Key Updates

 

  1. Compliance requirement under Income Tax act, 1961

 

 

Sl.

 

Compliance Particulars

 

Due Dates

 

1

Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month.

07.01.2022

2.

Due date for deposit of TDS for the period October 2021 to December 2021 when Assessing Officer has permitted quarterly deposit of TDS under section 192, section 194A, section 194D or section 194H.     

07.01.2022

 

3

Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 2021.     

14.01.2022

 

4

Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 2021.     

14.01.2022

5

Due date for issue of TDS Certificate for tax deducted under section 194M in the month of November, 2021.       

14.01.2022

 

 

6

Due date for filing of audit report under section 44AB for the assessment year 2021-22 in the case of a corporate-assessee or non-corporate assessee (who was required to submit his/its return of income on October 31, 2021) – extended date

 

15.01.2022

 

7

Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2021 has been paid without the production of a challan.   

 

15.01.2022

8.

Quarterly statement of TCS for the quarter ending December 31,2021.

15-01-2022

9.

Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending December, 2021.

15-01-2022

10.

Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2021.

15-01-2022

11.

Quarterly TCS certificate in respect of quarter ending December 31, 2021.

30-01-2022

12.

Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of December, 2021.

30-01-2022

13.

Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of December, 2021.

30-01-2022

14.

Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of December, 2021.

30-01-2022

15.

Quarterly statement of TDS for the quarter ending December 31, 2021.

31-01-2022

16.

Quarterly return of non-deduction at source by a banking company from interest on time deposit in respect of the quarter ending December 31, 2021.

31-01-2022

17.

Intimation under section 286(1) in Form No. 3CEAC, by a resident constituent entity of an international group whose parent is non-resident.

31-01-2022

18.

Audit report under section 44AB for the assessment year 2021-22 in the case of an assessee who is also required to submit a report pertaining to international or specified domestic transactions under section 92E.

 

The due date for furnishing of audit report for Assessment Year 2021-22 has been extended from October 31, 2021 to November 30, 2021 vide Circular no. 9/2021, dated 20-05-2021.

 

The due date for furnishing of audit report for Assessment Year 2021-22 has been further extended from November 30, 2021 to January 31, 2022 vide Circular no. 17/2021, dated 09-09-2021.

31-01-2022

 

  1. Income Tax Due Date - Extensions

 

Sl.

Nature of Extension

Provisions / Forms of IT Act 1961

Earlier  Due Date

Extended Due Date

1

The application in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc.,

Under Section 10 (23C), 12AB, 35 (1) (ii) /(iia) / (iii) and 80G of the Act

 

 

30.06.2021

 

 

31.03.2022

2

Return of income for the assessment year 2021-22 in the case of an assessee if he/it is required to submit a report under section 92E pertaining to international or specified domestic transaction(s)

 

 

under section 92E

 

 

31.12.2021

28.02.2022

 

3

Filing of belated/revised return of income for the assessment year 2021-22 for all assessee (provided assessment has not been completed before December 31, 2021).

Belated/revised return of income for the assessment year 2021-22

31.01.2022

31.03.2022

 

  1. Important Notifications – For the month of December - 2021:

 

Sl.

Particulars of the Notification(s)

File No. / Circular No.

Link(s)

1.

Income Tax Department conducts search operations in Rajasthan

Press Release ID 1776742

Click Here

 

2.

Income Tax Department conducts search operations in Pune, Maharashtra

Press Release ID 1777165

Click Here

 

3.

TheCentral Government hereby specifies the JeevanAkshay-VIIPlan of the LIC

Notification No. 134/2021

Click Here

 

4.

Protocol amending the Agreement between the Government of the Republic of India and theGovernment of the Kyrgyz Republic for the Avoidance of Double Taxation and for the Prevention of Fiscal Evasion with respect to taxes on income signed at New Delhi on 13th April, 1999.

 

 

Notification No. 135/2021/

 

 

 

Click Here

 

5.

TheIncome-tax (33rd Amendment)Rules, 2021

Notification No. 136/2021

 

Click Here

 

6.

Thee-Verification Scheme, 2021.

Notification No. 137 /2021

Click Here

 

7

TheIncome-tax (34th Amendment)Rules, 2021

Notification No. 138/2021

Click Here

8

TheFaceless Appeal Scheme, 2021.

Notification No. 139/2021

 

Click Here

9

TheIncome-tax (35th Amendment)Rules, 2021

Notification No. 140/2021

 

Click Here

 

 

 

2. Compliance Requirement under GST, 2017

 

A. Filing of GSTR –3B

 

a) Taxpayers having aggregate turnover >Rs. 5 Cr. in preceding FY

 

Tax period

Due Date

No interest payable till

Particulars

December, 2021

20thJanuary,

2022

-

Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year

 

b). Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group A)

 

Tax period

Due Date

No interest payable till

Particulars

December, 2021

22nd January,

2022

 

Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B

Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

 

 

c). Taxpayers having aggregate turnover uptoRs. 5 crores in preceding FY (Group B)

 

Tax period

Due Date

No interest payable till

Particulars

December, 2021

24thJanuary,

2022

 

 

Group B States:Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

 

 

B. Filing Form GSTR-1:

 

Tax period

Due Date

Remarks

Monthly return

(December, 2021)

11.01.2022

"1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceeding year.

 

2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP"

 

 

C. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

 

Form No.

Compliance Particulars

Timeline 

Due Date

GSTR-5 & 5A

Non-resident ODIAR services provider file Monthly GST Return

20th of succeeding month           

20.01.2022

 

GSTR -6

Every Input Service Distributor (ISD)

 

13th of succeeding month

 

13.01.2022

 

GSTR -7

Return for Tax Deducted at source to be filed by Tax Deductor

 

10th of succeeding month

 

10.01.2022

 

GSTR -8

E-Commerce operator registered under GST liable to TCS

10th of succeeding month

10.01.2022

 

D. GSTR - 1 QRMP monthly / Quarterly return

 

Form No.

Compliance Particulars

Timeline 

Due Date

 

Details of outward supply-IFF&

 

Summary of outward supplies by taxpayers who have opted for the QRMP scheme.

  1. GST QRMP monthly return due date for the month of December, 2021 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.

 

  1. Summary of outward supplies by taxpayers who have opted for the QRMP scheme.     

 

 

 

13th of succeeding month  - Monthly

 

Quarterly Return

 

 

 

 

13.01.2022

 

E. GST Refund:

 

Form No.

Compliance Particulars

Due Date

 

RFD -10

Refund of Tax to Certain Persons

18 Months after the end of quarter for which refund is to be claimed

 

 

F. Other Returns:

 

Form No.

Compliance Particulars

Timeline 

Due Date

 

 

CMP - 08

Quarterly challan-cum-statement to be furnished by composition taxpayers. Oct-Dec’21.          

Quarterly – Oct. to Dec 2021

 

 

18.01.2022

ITC - 04

GST ITC-04 is to be filed to provide details of goods sent to Job Worker or received back.

Quarterly – Oct. to Dec 2021

 

25.01.2022

 

G. Annual Returns:

 

Form No.

Compliance Particulars

Due Date

 

 

GSTR - 9

GSTR-9 is Annual Return applicable for registered person with aggregate turnover exceeding INR 2 Crores during the F.Y. 2020-21. However, registered person with aggregate turnoberupto INR 2 Crores have option to file GSTR-9.

 

 

28.02.2021

 

GSTR – 9C

GSTR-9C is reconciliation statement applicable for registered person with aggregate turnover exceeding INR 5 Crores during the F.Y. 2020-21.

 

28.02.2021

 

Major Update:

  • Taxpayers can now withdraw their application for cancellation of registration (filed in Form REG-16) unless the tax officer has initiated action on it.

 

  • Aadhaar authentication of registered person is mandatory for filing of Refund/Revocation of cancelled registration applications w. e. from 1.1.2022.

 

 

 

 

 

 

 

 

 

 

  1. GST UPDATES - from 01.12.2021 to 31.12.2021:

 

Sl.

Notification Particulars

Notification No.

Link(s)

1.

 

Module wise new functionalities deployed on the GST Portal for taxpayers

 

GSTN 496

 

Click Here

2.

Seeks to make amendments (Ninth Amendment, 2021) to the CGST Rules, 2017.

37/2021-Central Tax dated 01.12.2021     

 

Click Here

3.

GST on service supplied by restaurants through e-commerce operators – reg.

 

167/23/2021-GST

 

Click Here

4.

Mandatory Aadhaar authentication for registered person

GSTN Update: 514

 

Click Here

5.

Seeks to bring sub-rule (2) and sub-rule (3), clause (i) of sub-rule (6) and sub-rule (7) of rule 2 of the CGST (Eighth Amendment) Rules, 2021 into force w.e.f. 01.01.2022.

 

38/2021-Central Tax dated 21.12.2021

 

 

Click Here

6

Seeks to notify 01.01.2022 as the date on which provisions of section 108, 109 and 113 to 122 of the Finance Act, 2021 shall come into force.

39/2021-Central Tax dated 21.12.2021

 

Click Here

7

GST on service supplied by restaurants through e-commerce operators – reg.

CBIC-190354/207/2021-TRU Section-CBEC   

Click Here

8

Payment of GST compensation to States in times of COVID-19 pandemic

 

Press Release ID: 1778931

 

Click Here

9

Seeks to make amendments (Tenth Amendment, 2021) to the CGST Rules, 2017.

40/2021-Central Tax dated 29.12.2021     

 

Click Here

10

Seeks to amend Notification No 1/2017- Central Tax (Rate) dated 28.06.2017.

 

18/2021-Central Tax (Rate),dt. 28-12-2021     

 

 

Click Here

11

Seeks to amend Notification No 2/2017- Central Tax (Rate) dated 28.06.2017.

19/2021-Central Tax (Rate), dt. 28-12-2021

 

Click Here

12

Seeks to amend Notification No 21/2018- Central Tax (Rate) dated 26.07.2018

20/2021-Central Tax (Rate), dt. 28-12-2021

 

Click Here

13

Seeks to supersede notification 14/2021- CT(R) dated 18.11.2021 and amend Notification No 1/2017- CT (Rate) dated 28.06.2017.

21/2021-Central Tax (Rate), dt. 28-12-2021

 

Click Here

14

Seeks to supersede notification 15/2021- CT(R) dated 18.11.2021 and amend Notification No 11/2017- CT (Rate) dated 28.06.2017.

22/2021-Central Tax (Rate), dt. 28-12-2021

 

Click Here

 

3. Key Compliances under FEMA / RBI

 

Applicable Laws/Acts

Due Dates

Compliance Particulars

Forms / (Filing mode)

 

 

FEMA ACT 1999

 

Not later than 30 days from the date of issue of Capital instrument

 

FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India.

 

 

Form FC-GPR

 

 

 

FEMA ACT 1999

 

With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier.

 

Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS.

The onus of reporting shall be on the resident transferor/ transferee.

 

 

 

Form FC-TRS.

 

 

FEMA ACT 1999

within 30 days from the date of receipt of the amount of consideration.

 

A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1

 

 

Form FDI LLP-I

 

 

FEMA ACT 1999

 

within 60 days from the date of receipt of funds in

 

A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa)

 

Form FDI LLP-II

 

FEMA ACT 1999

 

within 30 days from the date of allotment of capital instruments

 

The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts

 

Downstream statement -Form DI& reporting at FIFP too

 

Entities which are filing FLA return for the first time/ with revised UIN (Unique identification number) are required to register themselves first for generating login credentials and afterwards they can file FLA return. However, the entities which have already registered earlier may submit FLA-2021 using their earlier login credentials.

 

  1. RBI Circulars / Notifications:December, 2021

 

 

Sl.

 

Particulars of the Circulars

 

Link

1

Lending and Deposit Rates of Scheduled Commercial Banks for the month of November 2021

Click here

2

Sectoral Deployment of Bank Credit – October 2021

Click here

3

Application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd. filed under the Insolvency and Bankruptcy Code, 2016

 

Click here

4

External Commercial Borrowings (ECB) and Trade Credits (TC) Policy – Changes due to LIBOR transition

Click here

5

Introduction of Legal Entity Identifier for Cross-border Transactions

Click here

6

RBI Bulletin - December 2021

Click here

7

RBI Working Paper No. 05/2021 - Reassessing Investment Dynamics – Newer Insights into Leverage and Investment of the Indian Corporate Sector

 

Click here

8

592nd Meeting of Central Board of the Reserve Bank of India

Click here

9

Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract

Click here

10.

Amendment to General Notification for sale of Government of India Treasury Bills/Cash Management Bills by Auction

 

Click here

11.

Result: Switch/Conversion auction of Government Securities

Click here

12

Result of Yield/Price Based Auction of State Development Loans of State Governments

 

Click here

13

Treasury Bills: Full Auction Result

Click here

14

Minutes of the Monetary Policy Committee Meeting, December 6 to 8, 2021

Click here

15

Reserve Bank of India imposes Monetary Penalty on two Payment System Operators

 

Click here

 

 

4. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

 

 

 

Applicable Laws/Acts

 

 

Due Dates

 

Compliance Particulars

 

Forms / Filing mode

 

Companies Act, 2013

 

Within 180 Days From The Date Of Incorporation Of The Company

(one time compliance only)

 

As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.

MCA E- Form INC 20A

(one time compliance)

 

 

Companies Act, 2013

 

First declaration within 90 days from the date of notification Dt. 08.02.2019

 

 

A person having Significant beneficial owner shall file a declaration to the reporting company

http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf

i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019

 

In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.

 

Form BEN-1

Draft Format available at

LINK

Companies Act, 2013

 

within 30 days of acquiring beneficial interest

Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.

 (the date of receipt of declaration in BEN-1 )

CLICK HERE

Form BEN – 2

(e-form deployed by Ministry (ROC)) on 01.07.2019

Companies Act, 2013

 

Annual Compliance

(30.09.2021)

*DIN KYC through DIR 3 KYC Form is an Annual Exercise.

Last date for filing DIR-3 KYC for Financial year 2020-21 is 30th September, 2021

 

Annual Exercise:CLICK HERE

Penalty after due date is Rs. 5000/-(one time)

 

E-Form DIR – 3 KYC

(Web Based and E-form)

 

Companies Act, 2013

Within 270 days from the date of deployment of this Form

Annual Return To Be Filed By Auditor With The National Financial Reporting Authority

CLICK HERE

CLICK HERE

Click Here

Note on NFRA -2Click Here

NFRA-2

(NFRA-2 e-Form live since 9th December 2019.)

Companies Act, 2013

Within 15 days of appointment of an auditor.

The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act.

E – Form

NFRA -1

Companies Act, 2013

Within 30 days of the board meeting

Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed.

MGT-14

 (Filing of resolution with MCA)

 

 

 

Companies Act, 2013

Within 60 (sixty) days from the conclusion of each half year.

Reconciliation of Share Capital Audit Report (Half-yearly)

Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014

To be filed all unlisted companies, deemed public companies. Till further clarification to be filled in GNL-2

E-Form PAS – 6

 

Companies Act, 2013

(Half Yearly basis)

31.10.2021

Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise, can be filed delayed without any Additional Fee

E-Form MSME-1

 

Companies Act, 2013

One Time compliances           

Registration of Entities for undertaking CSR activities         - Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021

E-Form CSR-1

Companies Act, 2013

within a period of 60 days after the holding

of AGM

IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 Statement of unclaimed and unpaid amounts.

This e-form shall be filed within a period of 60 days after the holdingof AGM or the date on which it should have been held as perthe provisions of section 96 of the Act, whichever is earlier

IEPF -2

 

  1. LLP Compliance:

 

 

Applicable Laws/Acts

 

 

Due Dates

 

Compliance Particulars

 

Forms / Filing mode

 

LLP Act, 2008

 

30.12.2021 (extended)

Statement of Account and Solvency for Financial Year 2020-21

Within30 days from the end of 6 months of the financial year to which the statement relates.

Failure to file LLP Form 8 can incur a penalty of Rs. 100 per day.

(late fee will start from 31st October, 2021 – i.e. after the original due date of the return – 30.10.2021

 

Form LLP-8

 

 

 

 

 

 

  • Due dates of ROC Return Filings

Sl. No.

 

Particulars

 

 

Due Date

 

E- Form

 

1

 

Appointment of Auditor

Within 15 days from the conclusion of AGM

 

 

ADT-1

 

 

 

2

 

Filing of financial statement and other documents with the ROC

15.02.2022 – due date extended for all Companies including OPC

Within 30 days from the conclusion of the AGM, other than OPC

(In case of OPC within 180 days from the close of the financial year)

 

AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL

 

3

Filing of annual return by a company.

28.02.2022 – due date extended for all Companies including OPC

Within 60 days from the conclusion of AGM

 

MGT-7

4

Filing of annual return by a company.

28.02.2022 – due date extended for all Companies including OPC

 

Within 60 days from the conclusion of AGM - Applicable in respect of Annual Return for the F.Y. 2020-21 and onwards of OPC and small companies.

 

 

MGT-7A

 

 

  1. KEY UPDATES – December, 2021:

 

1. Corp Affairs Ministry giving more leeway for firms to hold AGMs virtually

The corporate affairs ministry on Tuesday provided more leeway for companies in terms of holding annual general meetings in virtual mode.

The corporate affairs ministry on Tuesday provided more leeway for companies in terms of holding annual general meetings in virtual mode.The relaxation will be applicable for companies planning to hold their annual general meetings (AGMs) next year for the financial year 2021-22.

Companies proposing to hold their AGMs in 2022 for the financial year ended/ending any time before/on March 31, 2022 have been allowed to conduct the same through the virtual mode till June 30, 2022, according to a circular.

The companies can conduct their AGMs through video conference (VC) or other audio visual means (OAVM). The ministry also clarified that the circular should not be construed as conferring any extension of time for holding AGMs by the companies under the Companies Act, 2013."It will provide a breather for companies due to the continuing restrictions (and possible third wave considerations) relating to the pandemic."

 

  1. Important Updates –  December, 2021

 

  • MCA Monthly UPdate Calendar: December, 2021

 

 

Sl.

 

 

Particulars of the Circulars

 

Link

1

Relaxation on levy of additional fees is given till 15.02.2022 for filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and 28.02.2022 for MGT-7/MGT-7A for the financial year ended on 31.03.2021 || To avoid any last-minute payment transaction issues, Stakeholders may avail 'Pay Later option' for form filings and save the challan which gets generated on the screen for future reference

 

 

 

Click Here

2

The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021

 

 

Click Here

3

Invitation of comments from public on proposed changes to the Corporate Insolvency Resolution and Liquidation Framework under Insolvency and Bankruptcy Code, 2016

 

 

 

Click Here

4

Notice For Claim Invitation Of M/S. New Rajpur Mills Ltd. (In Liquidation)

 

Click Here

5.

Dissolution Notice of M/s Haryana Drugs & Pharmaceuticals Ltd (in Liquidation)

 

Click Here

6.

Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg.

 

Click Here

7

More than 7 lakh companies incorporated after announcement of Make in India programme

 

Click Here

8

12,892 companies removed from Registrar of Companies in 2020-21

Click Here

9

Clarification on passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with rules made thereunder on account of COVID-19-Extention of timeline-reg.

 

 

Click Here

10

Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg.

 

Click Here

 

5. Compliance under Other Statutory LAws

 

 

Applicable Laws/Acts

 

 

Timeline / Due Dates

 

Compliance Particulars

 

Forms / (Filing mode)

EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)

 

15.01.2022

 

PF Payment

 

ECR

ESIC (Employees' State Insurance Act, 1948)

 

15.01.2022

 

ESIC Payment

ESI Challan

 

Contract Labour (Regulation &Abolition) Act, 1970

 

Within 15 Days of commencement/ completion of contract work

Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer

Form VI-B

 

Contract Labour (Regulation &Abolition) Act, 1970

 

Within 15 Days of commencement/ completion of contract work

Notice of commencement/ completion of contract work by the Contractor within 15 days

Form VI-A

 

Payment of Gratuity Rule

Within 30 Days of applicability of the Act & any change

Notice of applicability of the Act & any change

Form A or B

 

 

Professional Tax

 

 

31.01.2022

PT for the month of December where the tax liability is more than Rs 1,00,000/-

 

 

PT Return

 

Factories Act, 1948

 

15.01.2022

Yearly Return ending 31st Dec, 2022

 

 

 

Contract Labour (R & A) Act

 

30.01.2022

Half Yearly Return by the Contractor ending 31stDecember, 2022

 

 

 

  1. Updates TRACKER under Labour LAws – December, 2021:

 

Sl.

Particulars

Link

1

Govt. of India shall continue to provide Gratuity and PF benefits to the employees of existing Air India and Indian Airlines employees

 

Click Here

2

EPFO Payroll data released for October 2021

Click Here

3

As per 1st round of All-India Quarterly Establishment Based Employment Survey (AQEES), employment increased by 29% in nine selected sectors of economy compared to 6th Economic Census (2013-14)

 

Click Here

4

Check out the Steps on How to transfer EPF digitally.

Click Here

5

25% of workers in unorganised sector registered on e-shram portal

Click Here

6

eShram Portal: Register online for free and get Rs 2 lakh benefit, here’s how

Click Here

7

#EPFO #Services on #UMANG App.

Click Here

8

Members can visit grievance portal at https://epfigms.gov.in for redressal of any type of grievance related to #services of #EPFO.

 

Click Here

9

Benefits Payable To Parents/Nominee Under EPS'95.

 

Click Here

10

Pradhan MantriShramPuraskarAwads, 2020-Extension of last date for submission of nominations - regarding.         

 

Click Here

11

ESIC relaxes eligibility norms for availing Covid-relief fund in case of death

Click here

12

More than 1.2 crore benefited under Pradhan MantriRojgarProtsahanYojana

Click Here

13

ESIC eases criteria for beneficiaries to avail Covid relief

Click Here

 

 

6. SEBI – Securities Exchange Board of INDIA

 

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

 

A. Quarterly Compliances:

Sl. No.

Regulation reference

(Reg.)

Compliance Particulars

Timeline / Due Date

(For the Quarter Ended December, 2021)

Due Dates

 

1

Schedule B

Intimation of Trading Window Closure

From the end of closure of quarter

31.12.2021

2

27(2)

Corporate Governance Report

21 days from end of quarter

21.01.2022

3

13(3)

Statement of Investor Complaints

21 days from end of quarter

21.01.2022

4

31 (1) (b)

Shareholding Pattern

21 days from end of quarter

21.01.2022

5

32 & 33

Financial Results & Statement of deviation

45 days/60 days from end of quarter

14.02.2022

 

B. Half Yearly Compliances:

 

Sl. No.

 

Regulation No.

 

Compliance Particular

 

Compliance Period

(Due Date)

Due Date

1.

Regulation 23(9)

Related party transactions.

 

The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website

Within 30 days of FR

 

C. Regular / Annual Compliances:

REG NO

REGULATION NO

PARTICULARS

TIMELINE

47 Advertisements in Newspapers.

47 (3) Advertisements in Newspapers

Financial results at 47 clause (b) of sub-regulation (1), shall be published within 48 hours of conclusion of the meeting of board of directors at which the financial results were approved.

48 HOURS

23 Related party transactions.

Reg 23(9) Related party transactions

The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website

30 days

24A Secretarial Audit.

Red 24A

Every listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be specified with effect from the year ended March 31, 2019. (within 60 days from the Closure of FY)

60 days from the Closure of FY

46 Website

46(2)(s)

The listed entity shall disseminate the following information under a separate section on its website separate audited financial statements of each subsidiary of the listed entity in respect of a relevant financial year, uploaded at least 21 days prior to the date of the annual general meeting which has been called to inter alia consider accounts of that financial year.]

21 days prior 1 days prior to the date of AGM

 

D. Other Quarterly compliance which included half year compliance except FR

 

REG NO

REGULATION NO

PARTICULARS

TIMELINE

Intimation

Reg 29 read with Reg 33

intimation regarding item specified in clause 29(1) (a) to be discussed at the meeting of board of directors shall be given at least five days in advance (excluding the date of the intimation and date of the meeting), and such intimation shall include the date of such meeting of board of directors

 at least 5 working days in advance, excluding the date of the intimation and date of the meeting

Intimations and Disclosure of events or information to Stock Exchanges.

87B: Intimations and Disclosure of events or information to Stock Exchanges. READ WITH PART E OF Schedule III

The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information:

 

 

 

 

24 HOURS

Valuation, Rating and NAV disclosure.

87C(1) (iii)

An issuer whose security receipts are listed on a stock exchange shall ensure that: the net asset value is calculated on the basis of such independent valuation and the same is declared by the asset reconstruction company within fifteen days of the end of the quarter.

 

15 Days

Other corporate governance requirements.

Reg 27(2)

The listed entity shall submit a quarterly compliance report on corporate governance in the format as specified by the Board from time to time to the recognised stock exchange(s) within fifteen days from close of the quarter.

15 days

 

15/01/2022

Indian Depository Receipt holding pattern & Shareholding details.

69(1)

The listed entity shall file with the stock exchange the Indian Depository Receipt holding pattern on a quarterly basis within fifteen days of end of the quarter in the format specified by the Board.

15 days from end of each quarter

15/01/2022

 

           

 

E. Event based Compliances

 

REG NO

REGULATION NO

PARTICULARS

TIMELINE

30 Disclosure of events or information.

30(6) AND Part A of Schedule III

The listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information

24 HOURS

30 Disclosure of events or information.

30(6) AND sub-para 4 of Para A of Part A of Schedule III

The listed entity shall disclose to the Exchange(s), within 30 minutes of the closure of the meeting held to consider the following:
a) dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched;
b) any cancellation of dividend with reasons thereof;
c) the decision on buyback of securities;
d) the decision with respect to fund raising proposed to be undertaken
e) increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched;
f) reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to;
g) short particulars of any other alterations of capital, including calls;

h) financial results;

i) decision on voluntary delisting by the listed entity from stock exchange(s).

30 MINUTES

31A: Conditions for re-classification of any person as promoter / public

31A(8)

The following events shall deemed to be material events and shall be disclosed by the listed entity to the stock exchanges as soon as reasonably possible and not later than twenty four hours from the occurrence of the event:
(a) receipt of request for re-classification by the listed entity from the promoter(s) seeking re-classification;
(b) minutes of the board meeting considering such request which would include the views of the board on the request;
(c) submission of application for re-classification of status as promoter/public by the listed entity to the stock exchanges;
(d) decision of the stock exchanges on such application as communicated to the listed entity;

24 HOURS

34 Annual Report.

34(1)(b)

In the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.]

48 HOURS

44 Meetings of shareholders and voting

44(3)

The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.

48 HOURS

47 Advertisements in Newspapers.

47 (3) Advertisements in Newspapers

The listed entity shall publish the information specified in 47(1) in the newspaper simultaneously with the submission of the same to the stock exchange(s). The same is reproduced below
47(1) (a) notice of meeting of the board of directors where financial results shall be discussed (c )statements of deviation(s) or variation(s) as specified in sub-regulation (1) of regulation 32 on quarterly basis, after review by audit committee and its explanation in directors report in annual report;
(d) notices given to shareholders by advertisement

Simultaneously

-

SCHEDULE III PART PART A 7(A)

resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor

24 HOURS

-

SCHEDULE III PART PART A 7(B)

In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities:
i. Detailed reasons for the resignation of independent directors as given by the said director shall be disclosed by the listed entities to the stock exchanges.
ii. The independent director shall, along with the detailed reasons, also provide a confirmation that there is no other material reasons other than those provided.
iii. The confirmation as provided by the independent director above shall also be disclosed by the listed entities to the stock exchanges along with the detailed reasons as specified in sub-clause (i) above.]

7 days from the date of resignation

7 Share Transfer Agent.

Reg 7(4) & (5) Share Transfer Agent.

The listed entity shall intimate any change or appointment of a new share transfer agent, to the stock exchange(s) within seven days of entering into the agreement.

7 DAYS

29

Reg 29(1)

The intimation required under 29 (1), shall be given at least two working days in advance, excluding the date of the intimation and date of the meeting Reg 29(1) is reproduced below: (b) proposal for buyback of securities ; (c) proposal for voluntary delisting by the listed entity from the stock exchange(s); (d) fund raising by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price:
Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. (e) declaration/ recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. (f) the proposal for declaration of bonus securities where such proposal is communicated to the board of directors of the listed entity as part of the agenda papers:

 at least 2 working days in advance, excluding the date of the intimation and date of the meeting

31 Holding of specified securities and shareholding pattern.

Reg 31 (1)(a)

The listed entity shall submit to the stock exchange(s) a statement showing holding of securities and shareholding pattern separately for each class of securities, in the format specified by the Board from time to time -
 one day prior to listing of its securities on the stock exchange(s);

1 day prior to listing of its securities on the stock exchange(s

31

Reg 31 (1 (c)

within ten days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital:

within 10 days of any capital restructuring

31A Conditions for re-classification of any person as promoter / public

Reg 31A

an application for re-classification of a promoter/ person belonging to promoter group to public to the stock exchanges has to be made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting

30 days from the date of approval by shareholders in general meeting

37 Draft Scheme of Arrangement & Scheme of Arrangement.

37(1)

Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time.

Before filling the same with any court or tribunal

39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities.

39(2)

The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within a period of thirty days from the date of such lodgement.

30 Days

39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities

39(3)

The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information.

2 days of its getting information.

40 Transfer or transmission or transposition of securities.

40 (3)

On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer

15 days

40 Transfer or transmission or transposition of securities.

40 (3)

the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode within seven days after receipt of the specified documents:

7 Days

40 Transfer or transmission or transposition of securities.

40 (3)

the listed entity shall ensure that transmission requests are processed for securities held in physical mode within twenty one days after receipt of the specified documents:

21 Days

-

SCHEDULE VII: TRANSFER OF SECURITIES (PART B (1))

In case of minor differences in the signature of the transferor(s), the listed entity shall follow the following procedure for registering transfer of securities:
(a) the listed entity shall promptly send to the first transferor(s), via speed post an intimation of the aforesaid defect in the documents and inform the transferor(s) that objection, supported by valid proof, is not lodged by the transferor(s) with the listed entity within fifteen days of receipt of the listed entity’s letter, then the securities shall be transferred

15 Days

42 Record Date or Date of closure of transfer books.

42(2)

The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date:

7 working days advance intimation excluding the date of the intimation and date of the meeting

42 Record Date or Date of closure of transfer books.

42(2)

in the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).]

3 working days advance intimation excluding the date of the intimation and date of the meeting

42 Record Date or Date of closure of transfer books.

42(3)

The listed entity shall recommend or declare all dividend and/or cash bonuses at least five working days (excluding the date of intimation and the record date) before the record date fixed for the purpose.

5 working days advance intimation excluding the date of the intimation and date of the meeting

46 Website

46 (3)(b)

The listed entity shall update any change in the content of its website within two working days from the date of such change in content.

 2 working days

50 Intimation to stock exchange(s).

50(1)

The listed entity shall give prior intimation to the stock exchange(s) at least eleven working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.

11 working days

50 Intimation to stock exchange(s).

50(3)

The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered.

 2 working days advance intimation excluding the date of the intimation and date of the meeting

52 Financial Results.

52 (4) & (5)

The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents

 7 working days

52 Financial Results.

52 (4) & (8)

The listed entity shall, within two calendar days of the conclusion of the meeting of the board of directors, publish the financial results and statement referred to in reg 52 (4), in at least one English national daily newspaper circulating in the whole or substantially the whole of India.

two calendar days of the conclusion of the meeting

57 Other submissions to stock exchange(s).

57(1)

The listed entity shall submit a certificate to the stock exchange within two days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities

within 2 days

60 Record Date

60(2)

The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the stock exchange(s) may agree to or require specifying the purpose of the record date.

 7 working days advance intimation excluding the date of the intimation and date of the meeting

78 Record Date.

78(2)

The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record date

notice in advance of at least 4 working days

82 Intimation and filings with stock exchange(s).

82(2)

The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered.

 2 working days in advance, excluding the date of the intimation and date of the meeting,

82 Intimation and filings with stock exchange(s).

82(3)

The listed entity shall submit such statements, reports or information including financial information pertaining to Schemes to stock exchange within seven days from the end of the month/ actual payment date, either by itself or through the servicer, on a monthly basis in the format as specified by the Board from time to time:
Provided that where periodicity of the receivables is not monthly, reporting shall be made for the relevant periods.

within 7 days

87 Record Date.

87(2)

The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date

 7 working days advance intimation excluding the date of the intimation and date of the meeting

87E Record Date.

87E(2)

The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the stock exchange(s) of the record date or of as many days as the stock exchange may agree to or require specifying the purpose of the record date.

 7 working days advance intimation excluding the date of the intimation and date of the meeting

 

7. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

 

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic.".

 

 

Sl. No.

 

Regulation No.

 

Compliance Particular

Compliance Period

(Due Date)

 

1

 

Regulation 30(1)

Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified.

 

 

 

The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within seven working days from the end of each financial year to;

 

  • every stock exchange where the shares of the target company are listed; and

 

  • the target company at its registered office

 

 

 

2

 

 

 

Regulation 30(2)

The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may

 

 

 

 

 

3.

Regulation 31(1) read with Regulation 28(3) of Takeover Regulations

AUGUST 7, 2019 CIRCULAR

https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.html

The promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company,

within 2 (two) working days

 

 

 

4.

 

 

 

Regulation 31(4)

 

 

 

Disclosure of encumbered shares

Promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified

 

 

8. SEBI (Prohibition of Insider Trading) Regulations, 2015

 

 

Sl. No.

 

Regulation No.

 

Compliance Particular

Compliance Period

(Due Date)

 

 

 

 

 

 

1

 

 

 

 

Regulation 7(2)

“Continual Disclosures”

Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified;

Every company shall notify; within two trading days of receipt of the disclosure or from becoming aware of such information

 

9. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

 

Sl. No.

Regulation No.

 

Compliance Particular

 

Compliance Period

(Due Date)

 

 

 

 

1

Schedule XIX - Para (2) of ICDR

Read with Reg 108 of SEBI LODR

“The issuer shall make an application for listing from the date of allotment, within such period as may be specified by the Board from time to time, to one or more recognized stock exchange(s)”.

 

In regard to above, it is specified that Issuer shall make an application to the exchange/s for listing in case of further issue of equity shares from thedate of allotment within 20 days (unless otherwise specified).

Within 20 days from the date of allotment

 

2

Regulation 162

 

The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment.

 

Within 18 months from date of allotment

3

SEBI CIRCULAR

Aug 19, 2019

https://www.sebi.gov.in/legal/circulars/aug-2019/non-compliance-with-certain-provisions-of-sebi-issue-of-capital-and-disclosure-requirements-regulations-2018-icdr-regulations-_43941.html

Application for trading approval to the stock exchange Listed entities shall make an application for trading approval to the stock exchange/s within 7 working days from the date of grant of listing approval by the stock exchange/s.

 

Within 7 working days from grant of date of listing approval

4

Regulation 76

Application for rights issue

The issuer along with lead managers and other parties related to the issue shall constitute an optional mechanism (non-cash mode only) to accept the applications of the shareholders to apply to rights issue subject to ensuring that no third-party payments shall be allowed in respect of any application.

 

5.

Regulation 77

Service of Documents

In case if the company fails to adhere to modes of dispatch through registered post or speed post or courier services due to Covid-19 conditions it will not be treated as non-compliance during the said period.The issuers shall publish required & necessary documents on the websites of the company, registrar, stock exchanges and the lead managers to the rights issue.

 

6

Regulation 84

 

Advertisement

Issuer has the flexibility to publish the advertisement in additional newspapers above those required in Regulation 84. The advertisement should also be made available on:

 

A. Website of the Issuer, Registrar, Lead Managers, and Stock Exchanges.

 

B. Television channels, radio, the internet, etc. to spread information related to the process.

 

10. SEBI (Buyback of Securities) Regulations, 2018 (Buyback Regulations)

 

 

Sl. No.

 

Regulation No.

 

Compliance Particular

 

Compliance Period

(Due Date)

 

 

 

 

 

 

1

 

 

 

 

Regulation 11 and 24(iv)

Extinguishment of equity shares in connection with Buyback The particulars of the security certificates extinguished and destroyed shall be furnished by the company to the stock exchanges where the shares or other specified securities of the company are listed within seven days of extinguishment and destruction of the certificates

 

 

7 days of extinguishment and destruction of the certificates

 

 

 

2

 

 

Regulation 24(i) (f)

 

 

 

Minimum time between buy back and raising of funds

Temporary relaxation in the period of restriction

provided in Regulation 24(i)(f) from “one year” to “six months”

Applicable up to December 31, 2020 only

 

11. SEBI (Depositories and Participants) Regulations 2018)

 

 

Sl. No.

 

 

Compliance Particulars

 

Due Date

 

1.

Regulation 76  (Quarter, January – March 2021)

Reconciliation of Shares and Capital Audit

Within 30 days from end of quarter.i.e. 30.01.2022

 

 

2.

Regulation 74 (5): Processing of demat requests form by Issuer/RTAs - Certificate Received from Registrar

Within 15 days from the end of each quarteri.e. 15.01.2022

 

  1. SEBI Circulars Tracker: 01.12.2021 to 31.12.2021

 

Sl.

Particulars

Link

1.

Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 [Last amended on December 06, 2021]]

Click Here

2.

Unserved Hearing Notice in respect of Abhishek Kumar in the matter of Achal Investments Ltd.

 

Click Here

3.

Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2021

 

Click Here

4.

Consultation Paper on Developing unique set of commodities

 

Click Here

5.

Notice of the meeting of the equity shareholders of EPL Limited

Click Here

6.

Consultation Paper on Algorithmic Trading by Retail Investors

Click Here

7.

Transaction in Corporate Bonds through Request for Quote platform by Portfolio Management Services (PMS)

 

Click Here

8.

Clarification regarding amendment to SEBI (Portfolio Managers) Regulations, 2020

 

Click Here

9.

Circular on Mutual Funds

Click Here

10.

Publishing Investor Charter and Disclosure of complaints by AIFs

Click Here

11.

Circular on Investor Charter and disclosure of Investor Complaints by Mutual funds on their websites and AMFI website.

Click Here

12.

Publishing of Investor Charter and disclosure of Investor Complaints by Portfolio Managers on their websites

Click Here

13.

Master Circular for Real Estate Investment Trusts (REITs)

Click Here

14.

Master Circular for Infrastructure Investment Trusts (InvITs)

 

Click Here

15.

Publishing of Investor Charter and disclosure of complaints by Debenture Trustees (DTs) on their Websites

 

Click Here

16.

Adjudication Order in respect of Darshana Devi Tharad in the matter of dealings in Illiquid Stock Options at BSE

 

Click Here

17

Natural Capsules Limited

Click Here

18

Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites

 

Click Here

19

Dhani Loans and Services Limited - Draft Prospectus

Click Here

20

Chairman's speech at inauguration of Arun Duggal ESG Centre for Research and Innovation - IIM Ahmedabad, December 03, 2021

 

Click Here

21

Edelweiss CPSE Plus SDL Index Fund – 2029

Click Here

22

SEBI Bulletin - November 2021 [MSWord]   [MSExcel]

 

Click Here

23

Publishing of Investor Charter and Disclosure of Complaints by Custodians and DDPs on their websites

Click Here

24

Extension of timeline for submission of public comments on the consultation paper for Market Making in Corporate Bonds

Click Here

25

Revised Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper

 

Click Here

26

SEBI issues directions to stock exchanges in Commodity Derivatives segment

 

Click Here

27

Portfolio Management Services for Accredited Investors

 

Click Here

28

Investment Advisory Services for Accredited Investors

Click Here

29

Extension of facility for conducting annual meeting and other meetings of unitholders of REITs and InvITs through Video Conferencing (VC) or through Other Audio-Visual means (OAVM)

 

Click Here

30

SEBI Annual Accounts - Financial Year 2019-20

 

 

Click Here

31

Restoration of relaxed timelines w.r.t. validity of observation letter pertaining to Mutual Funds

 

Click Here

32

Chairman's speech at AIBI Annual Summit 2021, December 22, 2021

Click Here

33

SEBI Bulletin - December 2021 [MSWord]   [MSExcel]

Click Here

 

12. IBBI Updates {Insolvency and Bankruptcy Board of India}

 

  1. MCA proposes changes to bankruptcy code for quicker corporate rescue

 

The ministry has given time till 13 January for receiving suggestions on the proposals.

The ministry suggested ways for faster admission of cases in tribunals for initiation of bankruptcy process and for faster adoption of the revival plans stitched together by the stakeholders. The ministry of corporate affairs on Thursday proposed amendments to the Insolvency and Bankruptcy Code (IBC) to expedite the rescue of distressed companies ending up in bankruptcy tribunals.

 

One of the suggestions made by the government on Thursday is to amend IBC to provide a “a fixed time period for approval or rejection of" a corporate turnaround plan by the tribunal. The idea is to give tribunals 30 days for approving or rejecting a resolution plan that is submitted. If the revival plan is not approved or rejected within this time period, the tribunal has to record reasons in writing for the same. This timeline will be subject to the overall time period of 330 days specified in the Code for bankruptcy resolution.

 

Accordingly, the ministry suggested that lenders submit to tribunals only those records authenticated by certain official information utilities for initiating bankruptcy process. Authenticated financial information will speed up admission of cases. Where such authenticated information is not available to lenders, other documents can be used for establishing debtor’s payment default. “This will make the admission process significantly quicker and less cumbersome," the ministry said.

 

  1. Important Notifications and Circulars Tracker (December, 2021)

 

Sl.

 

Notification(s)

Link(s)

1.

Resolution Process Has To Be Completed Within The Period Stipulated U/Sec 12 IBC: Supreme Court

 

Click Here

2.

Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2021

 

 

Click Here

3

Ministry proposes fixed timeline for NCLT, extended look-back period in IBC

 

Click here

4

Proposed IBC amendments put spotlight on past deals of bankrupt firms

 

Click here

5

‘Overall recovery rate under IBC improved till March-end 2021’

 

Click here

 

6

In the matter of Mr.FanendraHarakchandMunot, Insolvency Professional

Click here

7

Quarterly Newsletter for Jul-Sep, 2021

Click here

8

Invitation of comments from public on proposed changes to the Corporate Insolvency Resolution and Liquidation Framework under Insolvency and Bankruptcy Code, 2016

 

Click here

9

In the matter of Mr.Jaswant Singh, Insolvency Professional

Click here

10

Invitation of application for the post of Whole Time Member in the Insolvency and Bankruptcy Board of India

 

Click here

11

International Research Conference on Insolvency and Bankruptcy 2022: Call for Research Papers

 

Click here

12

PSUs with high liabilities may face IBC-based closure

Click here

13

Company law tribunal can't compel parties to settle dispute in insolvency proceedings under IBC, says SC

 

Click here

14

Amendment to the IBBI (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020

 

Click here

15

Corporate Insolvency Resolution Processes Ending with Order of Liquidation: As on 30th September, 2021

 

Click here

 

 

13. MSME (Ministry of Micro, Small and Medium Enterprises)

 

MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy.

 

MSME – Merged Criteria: Investment and Annual Turnover

Revised Classification applicable w.e.f 1st July 2020

 

Classification

Micro Enterprise

Small Enterprise

Medium Enterprise

Manufacturing Enterprises and Enterprises rendering Services

Investment in Plant and Machinery or Equipment:
Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore

Investment in Plant and Machinery or Equipment:
Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore

Investment in Plant and Machinery or Equipment:
Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore

 

 

  1. Key Updates – for the month of December – 2021.

 

Sl.

Particulars

Link

1

MSME’s National SC-ST Hub renders support-Story of Jagmohan Singh

Clickhere

2

Promoting Innovation and Upscaling in MSME

Clickhere

3

Safe Trade Policy

Click here

4

Skill India Programme

Click here

5

Steps taken by Government to improve flow of credit to MSME sector

 

Click here

6

Sankalp Scheme

Clickhere

7

Skill Development Scheme

Clickhere

8

Sumit Kumar- factory worker turned successful entrepreneur with MSME-NSIC loan

 

Click here

9

New Hub/Industrial Parks for MSMEs

Click here

10

Bharat Craft: Govt’s plan to launch Alibaba-like e-commerce portal for MSMEs seemingly scrapped

 

Click here

11

The Govt. flagship credit scheme for Covid-hit MSMEs and ECLGS extended by six more months till March 31, 2022, or till guarantees for the overall ceiling of Rs 4.5 lakh crore are issued, whichever is earlier.

 

Click here

12

CONTRIBUTION OF MANUFACTURING OF MSMEs

Clickhere

13

‘MAKE IN INDIA’ IN MICRO INDUSTRIES

Clickhere

14

RELIEF TO MSMEs

Click here

15

EMPLOYMENT OPPORTUNITIES IN MSMEs

Click here

16

Measures to Improve MSME Sector Exports

 

Click here

17

Financial Assistance to MSMES

Click here

18

Incentive to Establish MSMES

Click here

19

Revival of MSMEs

Clickhere

20

Zero Defect Zero Effect Scheme

Click here

 

 

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This article is updated till 31st December, 2021 with all Laws / Regulations and their respective amendments.                                                           

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Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information. Many sources have been considered including newspapers (ET, BS & HT etc.)

 

Thanks & Regards,

 

Lalit Rajput,

Company Secretary,

Cell: +91 8802581290

Email: lalitrajput537@gmail.com

Website: http://enlightengovernance.blogspot.com/