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
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 |
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 |
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 |
|
2. |
Income Tax Department conducts search operations in Pune, Maharashtra |
Press Release ID 1777165 |
|
3. |
TheCentral Government hereby specifies the JeevanAkshay-VIIPlan of the LIC |
Notification No. 134/2021 |
|
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/
|
|
5. |
TheIncome-tax (33rd Amendment)Rules, 2021 |
Notification No. 136/2021 |
|
6. |
Thee-Verification Scheme, 2021. |
Notification No. 137 /2021 |
|
7 |
TheIncome-tax (34th Amendment)Rules, 2021 |
Notification No. 138/2021 |
|
8 |
TheFaceless Appeal Scheme, 2021. |
Notification No. 139/2021 |
|
9 |
TheIncome-tax (35th Amendment)Rules, 2021 |
Notification No. 140/2021 |
|
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. |
|
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:
Sl. |
Notification Particulars |
Notification No. |
Link(s) |
1.
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Module wise new functionalities deployed on the GST Portal for taxpayers |
GSTN 496 |
|
2. |
Seeks to make amendments (Ninth Amendment, 2021) to the CGST Rules, 2017. |
37/2021-Central Tax dated 01.12.2021 |
|
3. |
GST on service supplied by restaurants through e-commerce operators – reg. |
167/23/2021-GST |
|
4. |
Mandatory Aadhaar authentication for registered person |
GSTN Update: 514 |
|
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 |
|
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 |
|
7 |
GST on service supplied by restaurants through e-commerce operators – reg. |
CBIC-190354/207/2021-TRU Section-CBEC |
|
8 |
Payment of GST compensation to States in times of COVID-19 pandemic |
Press Release ID: 1778931 |
|
9 |
Seeks to make amendments (Tenth Amendment, 2021) to the CGST Rules, 2017. |
40/2021-Central Tax dated 29.12.2021 |
|
10 |
Seeks to amend Notification No 1/2017- Central Tax (Rate) dated 28.06.2017. |
18/2021-Central Tax (Rate),dt. 28-12-2021 |
|
11 |
Seeks to amend Notification No 2/2017- Central Tax (Rate) dated 28.06.2017. |
19/2021-Central Tax (Rate), dt. 28-12-2021 |
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12 |
Seeks to amend Notification No 21/2018- Central Tax (Rate) dated 26.07.2018 |
20/2021-Central Tax (Rate), dt. 28-12-2021 |
|
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 |
|
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 |
|
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.
Sl. |
Particulars of the Circulars |
Link |
1 |
Lending and Deposit Rates of Scheduled Commercial Banks for the month of November 2021 |
|
2 |
Sectoral Deployment of Bank Credit – October 2021 |
|
3 |
Application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd. filed under the Insolvency and Bankruptcy Code, 2016 |
|
4 |
External Commercial Borrowings (ECB) and Trade Credits (TC) Policy – Changes due to LIBOR transition |
|
5 |
Introduction of Legal Entity Identifier for Cross-border Transactions |
|
6 |
RBI Bulletin - December 2021 |
|
7 |
RBI Working Paper No. 05/2021 - Reassessing Investment Dynamics – Newer Insights into Leverage and Investment of the Indian Corporate Sector |
|
8 |
592nd Meeting of Central Board of the Reserve Bank of India |
|
9 |
Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract |
|
10. |
Amendment to General Notification for sale of Government of India Treasury Bills/Cash Management Bills by Auction |
|
11. |
Result: Switch/Conversion auction of Government Securities |
|
12 |
Result of Yield/Price Based Auction of State Development Loans of State Governments |
|
13 |
Treasury Bills: Full Auction Result |
|
14 |
Minutes of the Monetary Policy Committee Meeting, December 6 to 8, 2021 |
|
15 |
Reserve Bank of India imposes Monetary Penalty on two Payment System Operators |
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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 |
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 ) |
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 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 |
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
|
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. 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."
Sl.
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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 |
|
2 |
The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021 |
|
3 |
Invitation of comments from public on proposed changes to the Corporate Insolvency Resolution and Liquidation Framework under Insolvency and Bankruptcy Code, 2016 |
|
4 |
Notice For Claim Invitation Of M/S. New Rajpur Mills Ltd. (In Liquidation) |
|
5. |
Dissolution Notice of M/s Haryana Drugs & Pharmaceuticals Ltd (in Liquidation) |
|
6. |
Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg. |
|
7 |
More than 7 lakh companies incorporated after announcement of Make in India programme |
|
8 |
12,892 companies removed from Registrar of Companies in 2020-21 |
|
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. |
|
10 |
Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg. |
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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 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 |
|
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 |
|
2 |
EPFO Payroll data released for October 2021 |
|
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) |
|
4 |
Check out the Steps on How to transfer EPF digitally. |
|
5 |
25% of workers in unorganised sector registered on e-shram portal |
|
6 |
eShram Portal: Register online for free and get Rs 2 lakh benefit, here’s how |
|
7 |
#EPFO #Services on #UMANG App. |
|
8 |
Members can visit grievance portal at https://epfigms.gov.in for redressal of any type of grievance related to #services of #EPFO. |
|
9 |
Benefits Payable To Parents/Nominee Under EPS'95. |
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10 |
Pradhan MantriShramPuraskarAwads, 2020-Extension of last date for submission of nominations - regarding. |
|
11 |
ESIC relaxes eligibility norms for availing Covid-relief fund in case of death |
|
12 |
More than 1.2 crore benefited under Pradhan MantriRojgarProtsahanYojana |
|
13 |
ESIC eases criteria for beneficiaries to avail Covid relief |
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: 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: |
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 |
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: |
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: |
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 - |
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: |
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: |
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;
|
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 |
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 |
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 |
Sl. |
Particulars |
Link |
1. |
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 [Last amended on December 06, 2021]] |
|
2. |
Unserved Hearing Notice in respect of Abhishek Kumar in the matter of Achal Investments Ltd. |
|
3. |
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2021 |
|
4. |
Consultation Paper on Developing unique set of commodities |
|
5. |
Notice of the meeting of the equity shareholders of EPL Limited |
|
6. |
Consultation Paper on Algorithmic Trading by Retail Investors |
|
7. |
Transaction in Corporate Bonds through Request for Quote platform by Portfolio Management Services (PMS) |
|
8. |
Clarification regarding amendment to SEBI (Portfolio Managers) Regulations, 2020 |
|
9. |
Circular on Mutual Funds |
|
10. |
Publishing Investor Charter and Disclosure of complaints by AIFs |
|
11. |
Circular on Investor Charter and disclosure of Investor Complaints by Mutual funds on their websites and AMFI website. |
|
12. |
Publishing of Investor Charter and disclosure of Investor Complaints by Portfolio Managers on their websites |
|
13. |
Master Circular for Real Estate Investment Trusts (REITs) |
|
14. |
Master Circular for Infrastructure Investment Trusts (InvITs) |
|
15. |
Publishing of Investor Charter and disclosure of complaints by Debenture Trustees (DTs) on their Websites |
|
16. |
Adjudication Order in respect of Darshana Devi Tharad in the matter of dealings in Illiquid Stock Options at BSE |
|
17 |
Natural Capsules Limited |
|
18 |
Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites |
|
19 |
Dhani Loans and Services Limited - Draft Prospectus |
|
20 |
Chairman's speech at inauguration of Arun Duggal ESG Centre for Research and Innovation - IIM Ahmedabad, December 03, 2021 |
|
21 |
Edelweiss CPSE Plus SDL Index Fund – 2029 |
|
22 |
SEBI Bulletin - November 2021 [MSWord] [MSExcel] |
|
23 |
Publishing of Investor Charter and Disclosure of Complaints by Custodians and DDPs on their websites |
|
24 |
Extension of timeline for submission of public comments on the consultation paper for Market Making in Corporate Bonds |
|
25 |
Revised Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper |
|
26 |
SEBI issues directions to stock exchanges in Commodity Derivatives segment |
|
27 |
Portfolio Management Services for Accredited Investors |
|
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) |
|
30 |
SEBI Annual Accounts - Financial Year 2019-20 |
|
31 |
Restoration of relaxed timelines w.r.t. validity of observation letter pertaining to Mutual Funds |
|
32 |
Chairman's speech at AIBI Annual Summit 2021, December 22, 2021 |
|
33 |
SEBI Bulletin - December 2021 [MSWord] [MSExcel] |
12. IBBI Updates {Insolvency and Bankruptcy Board of India}
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.
Sl.
|
Notification(s) |
Link(s) |
1. |
Resolution Process Has To Be Completed Within The Period Stipulated U/Sec 12 IBC: Supreme Court |
|
2. |
Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2021 |
|
3 |
Ministry proposes fixed timeline for NCLT, extended look-back period in IBC |
|
4 |
Proposed IBC amendments put spotlight on past deals of bankrupt firms |
|
5 |
‘Overall recovery rate under IBC improved till March-end 2021’ |
|
6 |
In the matter of Mr.FanendraHarakchandMunot, Insolvency Professional |
|
7 |
Quarterly Newsletter for Jul-Sep, 2021 |
|
8 |
Invitation of comments from public on proposed changes to the Corporate Insolvency Resolution and Liquidation Framework under Insolvency and Bankruptcy Code, 2016 |
|
9 |
In the matter of Mr.Jaswant Singh, Insolvency Professional |
|
10 |
Invitation of application for the post of Whole Time Member in the Insolvency and Bankruptcy Board of India |
|
11 |
International Research Conference on Insolvency and Bankruptcy 2022: Call for Research Papers |
|
12 |
PSUs with high liabilities may face IBC-based closure |
|
13 |
Company law tribunal can't compel parties to settle dispute in insolvency proceedings under IBC, says SC |
|
14 |
Amendment to the IBBI (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020 |
|
15 |
Corporate Insolvency Resolution Processes Ending with Order of Liquidation: As on 30th September, 2021 |
|
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: |
Investment in Plant and Machinery or Equipment: |
Investment in Plant and Machinery or Equipment: |
Sl. |
Particulars |
Link |
1 |
MSME’s National SC-ST Hub renders support-Story of Jagmohan Singh |
|
2 |
Promoting Innovation and Upscaling in MSME |
|
3 |
Safe Trade Policy |
|
4 |
Skill India Programme |
|
5 |
Steps taken by Government to improve flow of credit to MSME sector |
|
6 |
Sankalp Scheme |
|
7 |
Skill Development Scheme |
|
8 |
Sumit Kumar- factory worker turned successful entrepreneur with MSME-NSIC loan |
|
9 |
New Hub/Industrial Parks for MSMEs |
|
10 |
Bharat Craft: Govt’s plan to launch Alibaba-like e-commerce portal for MSMEs seemingly scrapped |
|
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. |
|
12 |
CONTRIBUTION OF MANUFACTURING OF MSMEs |
|
13 |
‘MAKE IN INDIA’ IN MICRO INDUSTRIES |
|
14 |
RELIEF TO MSMEs |
|
15 |
EMPLOYMENT OPPORTUNITIES IN MSMEs |
|
16 |
Measures to Improve MSME Sector Exports |
|
17 |
Financial Assistance to MSMES |
|
18 |
Incentive to Establish MSMES |
|
19 |
Revival of MSMEs |
|
20 |
Zero Defect Zero Effect Scheme |
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This article is updated till 31st December, 2021 with all Laws / Regulations and their respective amendments.
----------------------------------------------THE END----------------------------------------------------
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/