Daily Updates

MCA: MCA extends timeline up to 30th June 2022 for companies to conduct their EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) or transact items through postal ballot in accordance with framework. (General Circular No. 20/2021 dtd. 08.12.2021)

IBC : Outsourcing of work by An IRP/RP is violation of Insolvency & Bankruptcy Board of India (IBC), 2016 (Order No. IBBI/DC/80/2021- 09.12.2021

RBI: External Commercial Borrowing (ECB)/Trade Credit (TC) – Transition from LIBOR to Alternative Reference Rate (ARR) (RBI/2021-22/135 A.P. (DIR Series) Circular No. 19 dtd. 08.12.2021)

RBI: RBI kept repo and reverse repo rate unchanged at 4 & 3.35 per cent (Press Release: 2021-2022/1322dtd 08.12.2021)

Customs : All imported consignments of cinnamon will get tested for coumarin content (on dry basis) ensuring it is not be more than 0.3 percent by weight. (Instruction No. 28/2021-Customsdtd.09.12.2021)

SEBI: Transaction in Corporate Bonds through Request for Quote platform i.e. one-to-one (OTO) or one-to-many (OTM) mode by Portfolio Management Services (PMS) (CIRCULAR No. SEBI/HO/IMD/IMD-I/DOF1/P/CIR/2021/678 dtd. 09.12.2021)

SEBI: SEBI (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2021 (Notification No. SEBI/LAD-NRO/GN/2021/60  dtd. 06.12.2021)

DGFT: Applications are invited by DGFT for import authorisation for Water Melon Seeds–Other (ITC(HS) 12077090) for the period of 01.01.2022 to 31.03.2022. The last date for submission of online applications is 13.12.2021 (DGFT Public Notice No. 41/2015-2020)

Customs : Imposes ADD on import from China of Certain Flat rolled Products of Aluminium (Notification No. 68/2021-Customs (ADD) dtd. 06.12.2021)

SEZ: Revised user charges for SEZ-Online services are notified & to be effective from 15.11.2021 (Circular No. K-43014(22)/32/2020-SEZ)          

SEBI: SEBI has issued a circular Publishing Investor Charter & disclosure of Investor Complaints by Stock Brokers on their websites ( Circular NO: SEBI/HO/MIRSD/DOP/P/CIR/2021/676)

DGFT: SIONs for export product Sodium Salicylate and Methyl Cobalamin JP (Mecobalamin) under Chemical & Allied Product Group have been notified (Public Notice No. 40/2015-20-DGFT)

Customs : Seized/confiscated gold will be sold (other than gold ornaments/jewellery/articles) to Reserve Bank of India (RBI) only instead of public sector banks (approved by RBI to import and sell gold), MMTC Ltd. and STC Ltd. (Instruction No. 27/2021-Customs –  03/12/2021)

Customs: CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 3rd December, 2021 (Notification No. 96/2021- Customs (N.T.) dtd.02.12.2021)  

DGFT: Export policy of Agar Oil and Agarwood (Aquilaria Malaccensis) Chips and Powder has been amended from Free to Restricted with immediate effect. (Notification No. 45/2015-2020-DGFT [S.O. 4898(E)] –  29/11/2021)

DGFT: DGFT to issue RCMC/ Registration Certificate online (Trade Notice: Trade Notice No. 27/2021-2022 –  30/11/2021)  

SEBI: SEBI Master Circular for Real Estate Investment Trusts (REITs) (SEBI/HO/DDHS/DDHS_Div3/P/CIR/2021/674)

SEBI : Publishing of Investor Charter and disclosure of complaints by Debenture Trustees (DTs) on their Websites (Notification :SEBI/HO/MIRSD/MIRSD_CRADT/P/CIR/2021/675)

Customs: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver (Tariff Notification No. 95/2021- Custom (N.T), Dated: 30.11.2021)  

Others: Due date for online Filing of Audited Accounts with the Office of the Charity Commissioner, Maharashtra stands extended till December 31, 2021 ( Order No.591/2021 dtd. 26.11.2021)