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Commencement of certain provisions of the Companies Act, 2019 & 2020. MCA has enforced the following amendments made by the Companies (Amendment) Act, 2019 & the Companies (Amendment) Act, 2020 w.e.f. 22nd January, 2021: (2) Amendment in the definition of listed company [Section 2(52)]: The Central Government has been empowered to exclude certain companies, based on listing of certain securities on recognized stock exchanges, as may be provided by rules, in consultation with SEBI from the definition of listed companies. (3) Lesser period for rights issue offer [Section 62(1)(a)(i)]: The Central Government is empowered to prescribe days lesser than 15, for deeming decline of offer of rights issue. (4) Exemptions from declaration in respect of beneficial interest in any share: New sub-section (11) has been inserted in section 89 to enable the Central Government to notify a class or classes of persons who shall, unconditionally or subject to such conditions as may be specified, be exempted from complying with section 89 [except sub-section (10)].
CSR Rules Amended. (i) activities undertaken in pursuance of normal course of business of the company: However, any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22, 2022-23 subject to the conditions that- (a) such research and development activities shall be carried out in collaboration with any of the institutes or organisations mentioned in item (ix) of Schedule VII to the Act; (b) details of such activity shall be disclosed separately in the Annual Report on CSR included in the Board’s Report; (ii) any activity undertaken by the company outside India except for training of Indian sports personnel representing any State or Union territory at national level or India at international level;
Commencement of various provisions of the Companies Act, 2020. MCA Relaxes Online Test Requirement for Independent Directors. Relaxations in the online proficiency self-assessment test for Independent Directors In a major relief to Independent Directors, MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 to provide various relaxation with respect to the requirement to undergoing online self-assessment proficiency test.
The key changes are Every individual whose name is included in the data bank can pass the online proficiency self-assessment test conducted by the Institute (IICA) within a period of two years from the date of inclusion of his name in the data bank instead of one year;The passing criteria of the online proficiency self-assessment test will be 50% instead of 60%; andThe eligibility criteria for exemption from online proficiency self-assessment test has ben broadened. First time levy of fines for violations of Listed Debt Securities under Listing Regulations, 2015 - Corporate Professionals. The Securities and Exchange Board of India, vide circular dated November 13, 2020, has introduced a fine and penalty structure for non-compliances with continuous disclosure requirements by issuers of debt instruments.
On January 22, 2020, SEBI issued a uniform structure for imposing fines for non-compliant issuers of listed equity shares. Keeping in view the same, the Capital Market Regulator, in consultation with various market participants, issued the instant circular to ensure effective enforcement of continuous disclosure obligations by issuers of listed debt securities. This circular will be applicable on the following listed instruments:
Registration And Advisory for AIF; REITS InvITs And Other Funds Etc - Corporate Professionals. ESOP in India - Corporate Professionals. Corporate Professionals is the destination for all your ESOP related needs be it Advisory, Preparation or Implementation.
We under our umbrella “ESOP online” aims to build long term incentive plans that are best suited to a particular organisation and its employees. Competencies of our Professionals comprising Company Secretaries, Chartered Accountants and Lawyers with their expert knowledge on the subject would help you right from the Advisory and Preparation till the Implementation of an ESOP plan and thereby enhancing the overall productivity of the organisation. Through our strong foundations and robust growth, we have emerged as a leading corporate advisors attaining an edge in providing services at internationally competitive standards, utterly justifying our brand Corporate Professionals.
We offer 360 package services under ESOPs as well as independent services also. Amendments to SEBI Circular Dated - Corporate Professionals. The Securities and Exchange Board of India (SEBI) has issued a circular dated November 03, 2020 (Ref: SEBI/HO/CFD/DIL1/CIR/P/2020/215) (2020 Amendment Circular), amending certain provisions of the SEBI Circular dated March10, 2017 (Ref: CFD/DIL3/CIR/2017/21) which laid down detailed guidelines and procedures for listed entities undertaking schemes of arrangements and relaxation under Rule 19 (7) of the Securities Contracts (Regulation) Rules, 1957 (SEBI Circular, 2017).
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) provides that a scheme of arrangement/ amalgamation/ demerger/ reconstruction/ reduction of capital (Schemes) undertaken by a listed entity must be in compliance with the applicable securities laws. The 2017 SEBI Circular laid down the regulatory framework governing schemes of arrangements for amalgamation/ merger/ reconstruction/ reduction of capital by listed entities.
Revised Master Directions on CIC, 2016 - Corporate Professionals. The Reserve Bank of India (RBI) had constituted a Working Group Committee vide notification dated July 03, 2019 with the sole objective of reviewing the existing regulatory and supervisory framework for Core Investment Company (CIC) and recommending plausible changes in the framework.
The report of the Working Group Committee was made public in October 2019 wherein the Committee had recommended number of measures in existing regulatory framework of CIC. The RBI accepted majority of the changes so recommended by the Committee and amended the Master Directions on CIC, 2016 w.e.f August 13, 2020. In this article, we have compared the recommendations made by the Committee vis-à-vis changes made in the CIC Master Directions, 2016: From the above table, it is clearly visible that all material recommendations of the Committee have been accepted by the RBI and made part of the principal CIC Master Directions.
ESOP Guardian: One Stop web-based solution for ESOP Management - Corporate Professionals. Attain a Good Understanding of the Forex Markets with Proficient Consultancy Services in India. Rights Issues by Listed Companies - Corporate Professionals. In continuation to our 1st set of FAQs released in the month of May 2020 on “Rights Issues: A Recuperative remedy amid COVID 19 pandemic”, on popular demand, we are pleased to share our next round of FAQs on Rights Issues- “A compendium on the Rights Issues by Listed Companies”.
A Rights Issue is a fund-raising mode wherein the company offers the right to its existing shareholders to subscribe for additional shares of the company, in proportion to their existing holdings. For a listed company, it is governed by the following Statutes: Merger and Acquisition Strategies - Mergers & Acquisitions in India - Corporate Professionals. Our Team, with outstanding credentials and right blend of corporate legal and finance professionals has successfully advised and managed over 400 Mergers, Demergers, Acquisitions, Takeovers and Corporate Restructuring Transactions of Corporate Houses operating in different sectors such as Infrastructure, Real Estate, Auto Components, Capital Goods, Power, Finance and Investments, NBFC, Broking, Pharmaceuticals, IT and ITES, Iron & Steel, Metals, Steel Products, Plastic Products, Sugar, Textiles, Consumer Goods, Capital Goods, Mining, etc.
The Team provides end to end solutions for all kinds of M&A and corporate restructuring transactions viz., need analysis, planning & strategy making, business valuations, documentation and regulatory approval support to ensure successful transaction closing. What are some of the best Management Consultant Firms in India? Reliefs by MCA due to COVID-19 Pandemic - Corpoarte Professionals. Companies may hold EGM through Video Conference (VC) or other audio-visual means (OAVM) up to 31st December, 2020 In view of the current pandemic situation caused by COVID-19, MCA has allowed companies to conduct their EGMs through VC or OAVM up to 31st December, 2020 in accordance with MCA Circular No. 14/2020 dated 08th April, 2020.
Previously, the last date was 30th September, 2020. Click here to view Circular MCA extends the last date of various schemes up to 31st December, 2020. Analysis of the Companies Act, 2020 - Corporate Professionals. In view of constant endeavor of the Government to facilitate greater ease of living to law abiding corporates, a Company Law Committee (CLC) consisting of representatives from Ministry of Corporate Affairs, industry chambers, professional institutes and legal fraternity was constituted on the 18th September, 2019, to give recommendations to decriminalize some more provisions of the Act, based on their gravity and to recommend other concomitant measures to provide further ease of living for corporates in the country.
CLC submitted its report on 14th November, 2019. Based on the recommendations of the CLC and internal review by the Government, the Companies (Amendment) Act, 2020 seeks to decriminalise certain offences under the Act in case of defaults which can be determined objectively and which otherwise lack any element of fraud or do not involve larger public interest. FAQs on Dematerialization of Securities & Form PAS-6 - Corporate Professionals. Dematerialization of Securities 1. What is the Governing Law? Foreign Investment Approval Service - Corporate Professionals. Companies Act, 2013 and Rules & Forms With Concise Commentary and Referencer 10th Edition - Corporate Professionals. About the Book Companies Act, 2013 and Rules & Forms is the best seller from the house of Corporate Professionals, which has emerged as a leader in bringing out up-to-date books on the Companies Act, 2013 with more than 60,000 copies sold ll date.
The book is widely recognised for its easy reference to relevant rules and forms alongside each sec on. It also incorporates sec on wise legisla ve clause and useful ready referencers. Key Features: FAQs on “IBC Ordinance 2020 - Corporate Professionals. Introduction Since the inception of The Insolvency and Bankruptcy Code, 2016 (“Code”), Corporate Professionals has been actively providing services in the. The Code has faced several challenges since its inception and the government has effectively managed to tighten the loopholes.
The Code is now being considered as an effective tool for making a disciplined financial market. However, the nationwide lockdown due to COVID 19 pandemic created unprecedented uncertainties, stress and disruptions in business. In order to protect the stressed businesses, the government introduced certain amendments in IBC which have directly curtailed the rights of creditors to push the corporates into insolvency resolution process. While addressing the issues in our webinars, we have observed some commonly asked queries related to IBC Ordinance 2020, the alternatives remedies available to the creditors and future of the Code. Frequently Asked Questions. FAQs on Amendments in Indian Stamp Act - Corporate Professionals. 1. From which date will the amended provisions of the Stamp Act and Rules made thereunder come into force?
Answer The amended provisions of the Indian Stamp Act, 1899 brought through Finance Act, 2019 and the Rules made thereunder have come into force w.e.f 1st July, 2020. 2. Which securities are covered under the Stamp Act post amendment? Answer: Securities covered would include. SEBI Extends System - Driven Disclosures for Member(s) - Corporate Professionals. The Best Company Law Advisory Service Providers in India.
Corporate Professionals Webinar On Valuation, Valuation Standards And Valuation Profession. Corporate Professionals successfully organised webinar on "VALUATION, VALUATION STANDARDS AND VALUATION PROFESSION" on 28th Aug, 2020. FAQs on Alternative Investment Funds - Corporate Professionals. 1. Preferential Allotment I Bonus Issue I NCD issuance I Listed Company handholding I Governance practices I Buyback I Delisting I Direct Listings I Suspension Revocation I SME Listing I SEBI Exempti. Corporate Professional is a one of the great firm to work with, bringing expert knowledge, integrity and a very easy to work with approach.
Portending the Future of Legal Ecosystem - Corporate Professionals. If it had not been for the Technology, we would have been gawking at the unprecedented crisis – Coronavirus. When the pandemic hit us, our courts (the formidable guardians of the rights of our people) swiftly adapted and responded with several prophylactic measures. Take for instance, enlarging the access to justice amidst this catastrophe, through e-pleadings & video conferencing. Demystifying Compounding Under The Companies Act - Corporate Professionals. Compounding of an offence is a settlement mechanism, by which, the offender is given an option to pay money in lieu of his prosecution, thereby avoiding a litigation. Compounding of offences under the Companies, Act, 2013 (the Act) is the process whereby the defaulting party settles a matter involving default of provisions of the Act on payment of such sum as specified by the appropriate authority to avoid prosecution instituted or to be instituted in relation to such offence.
MCA amends CSR Policy Rules and Schedule VII - Corporate Professionals. MCA vide two Notifications dated 24th August, 2020 has amended the Companies (CSR Policy) Rules, 2014 and Schedule VII of the Companies Act, 2013 to provide for the following amendments: SEBI (Prohibition of Insider Trading) Regulations, 2015 - Corporate Professionals. ESOP Service: Planning, Consulting and Administration. Drafting & Documentation Services - Transaction Advisory and Family Settlement - Corporate Professionals.
Corporate Professional is a one of the great firm to work with, bringing expert knowledge, integrity and a very easy to work with approach. SEBI’s First Settlement Scheme - Corporate Professionals. SEBI (PIT) Amendment Regulations, 2020 - Corporate Professionals. Form PAS-6 for filing Half-yearly Reconciliation of Share Capital Audit Report. Corporate Litigation Lawyers in India. Recent Changes in Indian Stamp Act - Corporate Professionals. Are You Planning to Register an NBFC. Setup Business Globally - Corporate Professionals.
Various relaxations in Company Law due to Covid-19 - Corporate Professionals. Preferential Allotment I Bonus Issue I NCD issuance I Listed Company handholding I Governance practices I Buyback I Delisting I Direct Listings I Suspension Revocation I SME Listing I SEBI Exempti. SEBI’s move to Promote Preferential Issues - Corporate Professionals. MCA Introduces Scheme for Relaxation of Time for Filing Forms. Merger and Acquisition Strategies - Mergers & Acquisitions in India - Corporate Professionals. Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 - Corporate Professionals. Antitrust Advisory Services in India show Correct ways of Doing Business: corporateindia — LiveJournal. Capital Funding Advisory Services offer Structured Solution for Stability and Expansion – Corporate Professionals.
Legal Advisor in Delhi, India: INSILYSIS – A STRUCTURED DIGITAL DATABASE. Performance of Contracts in Covid Era – Predicament and Protection! Ways to do lending business in India - NBFC Consultant. The Importance of Competition Advisory Services India by Corporate Professionals. Insolvency Consultants in India render their Services Quite Professionally Article. Insider Law Compliance ManagementSEBI Insider Trading Regulations. Corporate Professionals — Impact of Covid on Business Valuation and... Impact of Covid on Business Valuation and Financial Reporting. Importance of Professional Legal Advisory In India. FAQs on Holding AGM Through Video Conferencing. Rights Issue: A Recuperative remedy amid Covid-19 pandemic. MCA has given relaxation in dispatch of notice by listed companies. Last date for registration of Independent Director’s extended. SEBI Relaxation in holding AGM comes to rescue top 100 listed entities. MCA Relaxes Timelines for Reserved Company/LLP Names.
Relaxation in holding of AGMs by companies whose financial year ended. Foreign investment from Neighbouring Countries including China. Is your Board Structure in line with Listing Regulations!! A New Ray of Hope for The Warrant Holders Amid Covid 19 Pandemic. No Force Majeure Clause? Other Remedies Available. Ring Fencing India’s Foreign Direct Investment Framework. Legal View on labour issues during Covid Pandemic. Legal View on labour issues during Covid Pandemic. FAQs on Force Majeure & Frustration of Contracts. Listed Entities-Buyback amid Covid-19 - Corporate Professionals. Intricacies in Issue of Preference Shares: A Perspective - Corporate Professionals. Core Investment Companies: A Potential Threat to Financial System. ESOPs to protect your Employees’ interest in the Covid hit Economy. RBI relaxes export of goods and services provisions. Some cautious advice toStock Brokers from Compliance Requirement amidst COVID-19.
Legal Advisor in Delhi, India: IMPLICATIONS OF COVID-19 ON COMMERCIAL CONTRACTS: Revision in Fine Structure In Case of Non-Compliance with SEBI Listing Regulations, 2015 - Corporate Professionals. NCLAT Rejected Appeal by Income Tax Department in The Matter of Scheme of Arrangement of Reliance Jio Infocomm Limited - Corporate Professionals. Corporate Professionals a SEBI Registered Category I Merchant Banker in India. Merger & Acquisition Services with Smart Transaction Advisory. VALUATION REQUIREMENTS IN INDIA - Corporate Professionals. Disqualification of Director under Section 164 & 167 - Delhi High Court.
A Complete Overview on Employee Stock Option Plan - Corporate Professionals - Medium.