The Monthly Digest- August 2021

September 1, 2021by admin0
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MINISTRY OF CORPORATE AFFAIRS

‘NOTIFICATION UNDER SECTION 393A OF THE COMPANIES ACT, 2013

The Central Government hereby exempts, from the provisions of sections 387 to 392 (both inclusive), the following:-(a) foreign companies; (b) companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India, insofar as they relate to the offering for subscription in the securities, requirements related to the prospectus, and all matters incidental thereto in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005) Read more

MAHESHWARI AND CO. is a full service Law Firm that represents its clients in a number of complex and high value transactions. The Firm has an expertise and vast experience across various areas of practise including Corporate & Commercial Law, mergers & acquisitions, intellectual property rights, taxation, Litigation and Arbitration, Insolvency & Bankruptcy and Immigration.
The Firm has done extensive work in sectors which includes Automotive, F& B, Pharmaceuticals and Healthcare, Start-ups, e- commerce, Banking and finance, Infrastructure, Real Estate, Information Technology, Power and Telecom.

COMPANIES (CREATION AND MAINTENANCE OF DATA BANK ID) 2nd AMENDMENT RULE 2021

Powers conferred by Sec 150 read with Sec 469 of the Companies Act, 2013 (18 of 2013), the Central Government made rules to amend this section, after rule 5, the following rule and the Schedule(for schedule go to hyperlink or official gazette of India) shall be inserted, namely:- “6. Annual report on the capacity building of independent directors: The institute shall within sixty days from the end of every financial year send an annual report to every individual whose name is included in the data bank and also to every company in which such individual is appointed as an independent director in format provided in the Schedule to these Rules. Read More

COMPANIES (SPECIFICATION OF DEFINITIONS DETAILS) THIRD AMENDMENT RULES, 2021

The power given under sub-clause (ix) of clause (76), sub-clause (iii) of clause (77) of section 2, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Specification of definitions details) Rules, 2014 namely :- (a) It would be called Third Amendment Rules, 2021; (b) clause (h) of sub-rule (1) of rule 2 electronic based offering of securities, subscription thereof or listing of securities in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005) shall not be construed as ‘electronic mode’ for the purpose of clause (42) of section 2 of the Act Read more

ADJUDICATION ORDER IN THE MATTER OF WEALTH MANAGEMENT RESEARCH
(From the facts, it is abundantly clear that Notices were engaged in the business of providing advice to their clients/investors through the electronic or telecommunications medium inter alia relating to investing in, buying or selling or otherwise dealing in securities or investment products, for a consideration, and the same has resulted in the Notices undertaking the activities as Investment Adviser’ within the meaning of Regulations2(I) and 2(m) of the IA Regulations.) Read More

ABOUT US

MAHESHWARI AND CO. is a full service Law Firm that represents its clients in a number of complex and high value transactions. The Firm has an expertise and vast experience across various areas of practise including Corporate & Commercial Law, mergers & acquisitions, intellectual property rights, taxation, Litigation and Arbitration, Insolvency & Bankruptcy and Immigration.
The Firm has done extensive work in sectors which includes Automotive, F& B, Pharmaceuticals and Healthcare, Start-ups, e- commerce, Banking and finance, Infrastructure, Real Estate, Information Technology, Power and Telecom.

SECURITIES EXCHANGE BOARD OF INDIA (SEBI )

ADJUDICATION ORDER IN THE MATTER OF WEALTH MANAGEMENT RESEARCH
(From the facts, it is abundantly clear that Notices were engaged in the business of providing advice to their clients/investors through the electronic or telecommunications medium inter alia relating to investing in, buying or selling or otherwise dealing in securities or investment products, for a consideration, and the same has resulted in the Notices undertaking the activities as Investment Adviser’ within the meaning of Regulations2(I) and 2(m) of the IA Regulations). Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBTION OF INSIDER TRADING) (SECOND AMENDMENT) REGULATIONS, 2021
(In this the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015-
1.These regulations may be called the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2021.
2. They shall come into force on the date of their publication in the Official Gazette).Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (MUTUAL FUNDS) (SECOND AMENDMENT) REGULATIONS, 2021
(In this the exercise of the powers conferred by section 30 read with clause (c) of sub- section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the regulations to further amend the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996). Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON- CONVERTIBLE SECURITIES) REGULATIONS, 2021
(By a 9th August, 2021 Notification, SEBI has consolidated the regulatory framework pertaining to issue of non-convertible debentures (‘NCDs’), non convertible preference shares (‘NCPS’), perpetual debt securities (‘PDIs’), and listed commercial paper. Along with the consolidation exercise, SEBI has also tried to iron out some of the difficulties being faced in respect of debt issuance by companies).Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS 2018.

As per Securities and Exchange Board of India (Issue of Capital And Disclosure Requirements) Regulations, 2018, Regulation 112 has been amended where minimum promoter’s contribution is not required. Read More

SECURITIES CONTRACTS (REGULATION) (STOCK EXCHANGES AND CLEARING CORPORATIONS) (SECOND AMENDMENT) REGULATIONS, 2021
SEBI has notified Securities Contracts (Regulation)(Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2021 to amend the existing Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 vide Notification No. SEBI/LAD-NRO/GN/2021/44 dated Dtd. 13th August, 2021 Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (DEPOSITORIES AND PARTICIPANTS) (AMENDMENT)REGULATIONS, 2021.
These regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2021. They shall come into force on the date of their publication in the Official Gazette. In the Securities and Exchange Board of India (Depositories and Participants) Read More

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON- CONVERTIBLE SECURITIES) REGULATIONS, 2021
(By a 9th August, 2021 Notification, SEBI has consolidated the regulatory framework pertaining to issue of non-convertible debentures (‘NCDs’), non convertible preference shares (‘NCPS’), perpetual debt securities (‘PDIs’), and listed commercial paper. Along with the consolidation exercise, SEBI has also tried to iron out some of the difficulties being faced in respect of debt issuance by companies).Read More

FOREIGN DIRECT INVESTMENT

FDI HAS BEEN INCREASED- MORE THAN DOUBLED TO $17.57 BILLION DURING APRIL-JUNE
FDI Equity inflows grew by 168 % in first three months of 2021-2022,highest FDI was garnered by the automobile industry with 27% share of the total FDI equity inflows, followed by computer software and hardware at 17% and services at 11%.Among states, Karnataka was the top recipient with 48% share of the total FDI equity inflows, followed by Maharashtra 23% and Delhi at 11% in the quarter.
Read More

EXIT BY PRIVATE EQUITY AND VENTURE CAPITALIST FIRMS THROUGH IPOS
Exits by private equity and venture capitalist firms through initial public offers (IPOs) are likely to result in higher gross foreign direct investment (FDI) outflows in the ongoing financial year, said Kotak Institutional Equities in a note. Read More

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