RBI /FEMA: Reserve Bank of India (Financial Statements – Presentation and Disclosures) Directions, 2021 issued w.r.t. disclosure of material items by all commercial banks. [Notification No. RBI/2022-23/154 DOR.ACC.REC.No.91/21.04.018/2022-23 dated 13th Dec 2022]
Others: The Food Safety and Standards (Advertising and Claims) Second Amendment Regulations, 2022 issued so as to further amend the Food Safety and Standards (Advertising and Claims) Regulations, 2018 stating some provisions w.r.t. some mandatory disclosure requirements on the food products. [Notification No. Std/SP-08/A-1.2019/N-03 dated 13th Dec 2022]
GST: Extension of due date till 13th Dec 2022 for furnishing FORM GSTR-1 for November, 2022 for registered persons whose principal place of business is in the districts of Chennai, Tiruvallur, Chengalpattu, Kancheepuram, Tiruvannamalai, Ranipet, Vellore, Villupuram, Cuddalore, Thiruvarur, Nagapattinam, Mayiladuthurai and Thanjavur in the State of Tamil Nadu. [Notification No.25/2022- Central Tax dated 13th …
SEBI: Guidance note issued on inclusion of “Object of the issue” in case of Preferential issues (in the Explanatory statement to the notice to the shareholders) and in Qualified Institutions Placement (“QIP”) (in the preliminary and final placement document) in SEBI (ICDR) Regulations, 2018, respectively. [Circular No. NSE/CML/2022/56 dated 13th Dec, 2022]
SEBI: Corporate governance provisions of the LODR (Listing Obligations and Disclosure Requirements) Regulations are not applicable to a listed entity only if the paid-up equity share capital and net-worth are less than ₹10 crore and ₹25 crore, respectively. [Notification No. SEBI/HO/CFD/Po D2/OW/P/2022/62027/1 dated 13th Dec 2022]
RBI / FEMA Now w.e.f. 28th Feb 2023, cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 are also required to be reported under the suit-filed cases in reporting to the CICs (Credit Information Companies). [Notification No. RBI/2022-23/153 DoR.FIN.REC.90/20.16.056/2022-23 dated 13th Dec 2022]
Income Tax: Partial relaxation with respect to electronic submission of Form 10F by select category of taxpayers in accordance with the DGIT. [Notification No. F. No. DGIT(S)-ADG(S)-3/e-Filing Notification/Forms/2022/9227 dated 12th Dec 2022]
DGFT: The import item ‘Shea Nut or Shea Butter’ is excluded from Sr. No.10 of Appendix 4J (Items with Export Obligation period for specified inputs with Pre-import Condition) with immediate effect. [Public Notice No.43/2015-20 dated 12th Dec 2022]
Customs: Instruction issued so as to ensure proper follow up of Sugar Policy and Sugar Mill wise export quantity of sugar for export in sugar season 2022-23. [Instruction No.33/2022-Customs dated 12th Dec 2022]
Customs: Procedures and clarifications issued for Postal Export (Electronic Declaration and Processing) Regulations, 2022 and implementation of PBE (Postal Bill of Exports) Automated System. [Circular No.25/2022-Customs dated 9th Dec 2022]
Customs: CBIC notifies ‘Kakrawah’ as Land Customs Station for clearance of any class of goods. [Notification No. 107/2022- Customs (N.T.) dated 13th Dec 2022]
Customs: Two new Customs Stations has been added as ‘Bhithamore’ and ‘ Barhni’ for the purpose of Notification No.208/77-Cus (N.T.) dated dated 01.10.1977. [Notification No. 106/2022- Customs (N.T.) dated 12th Dec 2022]
Customs: The Postal Export (Electronic Declaration and Processing) Regulations, 2022 has been issued and effective from 9th Dec 2022. [Notification No. 104/2022- Customs (N.T.) dated 9th Dec 2022]
Customs: Exports by Post (Amendment) Regulations, 2022 notified for substitution of words ‘international credit and debit cards and as specified’ with the words “various electronic means and in accordance with the guidelines issued”. [Notification No. 103/2022- Customs (N.T.) dated 9th Dec 2022]
SEBI: Guidelines & procedure prescribed for raising funds by Alternative Investment Funds from any investor whether Indian, foreign or non-resident Indians, by way of issue of units. [CIRCULAR NO. SEBI/HO/AFD-1/PoD/P/CIR/2022/171 dated 9th Dec 2022]
SEBI: It is clarified that the provisions of the Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS) (‘debt listed entities’) shall not apply to a Scheme of Arrangement which solely provides for an arrangement between a debt listed entity and its unlisted wholly owned subsidiary. …
Company Law: ROC, Karnataka imposed penalty of Rs. 5 Lacs on Company for not appointing a whole-time company secretary. [Order No. ROCB/Adj.454-203/CONNECTWISE/Co.No.116999 /2022/ SRN 100078416 Dated: 07.11.2022]
Company Law: ROC, Karnataka imposed penalty for CIN (Corporate Identification Number) not mentioned on letter head amounting to Rs.43,500/- (Rs.14,500/-each on company and 2 Directors) [Order No. F. No. ROCB/Adj. 454/Co. N o.52650/Section 12 (3) (c)/GoAudits/2022 Date: 09.11.2022]
Company Law: ROC, Karnataka imposed penalty on company for non-filing of Significant Beneficial Owners Declaration in e-form BEN-2 amounting to Rs.2,96,700/- (Rs.1,81,500/- on company and Rs.57,600/- each on 2 Directors) [Order No. F. No. ROCB/ADLORDER/SECTION 90(4)/CONTLO/Co.No.152010/2022(SRN 100078414) Date: 09.11.2022]
Company Law: ROC, Karnataka imposed penalty for Company not located at registered office premises amounted to Rs.1,23,000/- (Rs.41,000/- each on Company & 2 Directors) [Order No. F. No. ROCB/ Adj.454/Co.No.20354/Section 12/2022 Date: 16.11.2022]
