The Monthly Digest- Sep 2021

October 1, 2021by admin0
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MINISTRY OF CORPORATE AFFAIRS

‘CHARTERED ACCOUNTS (ELECTION TO THE COUNCIL) AMENDED RULES, 2021

The Ministry of Corporate Affairs has released an amendment to the Chartered Accountants (Election to the Council) Rules. Several Rules are amended such as Rule 5, 6,21, 26, and 32. READ MORE

EXCHANGE OF PERIOD OF THE COMPANY LAW COMMITTEE

The Government of India released an order regarding constituting the Company Law Committee. This order was released for the continuation of the order dated 18th September 2019 and 17th September, 2020.
The Order stated that the tenure of the Company Law Committee is hereby further extended by one year from the date of expiry of the last order. READ MORE

RELEASE OF E-BOOKLET FOR THE EASE OF DOING BUSINESS

The ministry of corporate affairs has released an e-booklet for the ease of doing business and investment in the country.
This booklet consists of the reforms-nature and manner of implementation and the benefits of the reforms. READ MORE

INVITATION OF CLAIMS ISSUED BY BENGALURU IN THE MATTER M/S. SEM INDIA SYSTEMS PRIVATE LIMITED (IN LIQUIDATION) ISSUED BY THE OL, BENGALURU

The notice is issued regarding the matter of M/s. SEM India systems Pvt. Ltd., High Court of Karnataka.
The notice is provided to the creditors and workmen of the company to submit to the Official Liquidator of the Court proofs of their respective debts or claims against the company. 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.

AWARD & RECOGNITION

MAHESHWARI AND CO. has been acclaimed for Corporate and M&A practice by Asia law Profiles 2022.

SECURITIES EXCHANGE BOARD OF INDIA

REVISED GUIDELINES FOR LIQUIDITY ENHANCEMENT SCHEME IN THE EQUITY CASH AND EQUITY DERIVATIVES SEGMENT

The SEBI provided guidelines for liquidity enhancement scheme in the equity cash and equity derivatives segments.
The guidelines were issued in exercise of powers conferred under Section 11 (1) of the Securities Exchange Board of India Act, 1992 read with Section 10 of Securities Contract (Regulation) Act, 1956.
The circular is issued in order to protect the interests of the investors in securities and to promote the development of the market READ MORE

FINAL ORDER

The Securities Board of India issued the final order in the matter of Coral Hub Limited.
The order can be read via the link provided.READ MORE

SEBI RELEASES ORDER FOR COMPLIANCE

The Securities Exchange Board of India has released an order for compliance for the release of attachment of bank accounts, Demat Accounts and Mutual Fund Folios. The order is released for Sicorp Finlease Ltd. READ MORE

RISK MANAGEMENT FRAMEWORK (RMF) FOR MUTUAL FUNDS

The Securities Board of India has issued a circular to all Mutual Funds, Asset Management Companies (AMC’s), Trustee Companies and Association of Mutual Funds in India (AMFI).
The circular entails the framework for governance and organisation, risk management policy and other mandatory and recommended elements. READ MORE

CLARIFICATIONS WITH RESPECT TO CIRCULAR DATED APRIL 28TH, 2021

Clarifications have been issued by the Securities Exchange Board of India regarding a circular that was shared dated April 29th, 2021 on alignment of interests of key employees (Designated Employees) of Asset Management Companies (AMC’s) with the Unitholders of the Mutual Fund Schemes.READ MORE

ADJUDICATION ORDER

The Securities Exchange Board of India released an Order in the matter of illiquid stock options.

SEBI observed that large scale reversal of trades in stock options lead to the creation of artificial volume at the BSE. The order states that penalty is to be imposed under Section 15HA of the SEBI Act, 1992 on the notice.READ MORE

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FOREIGN DIRECT INVESTMENT

‘GOVT. RECEIVED MAX FDI PROPOSALS FROM NATIONS SHARING BORDERS WITH INDIA

The Government of India released an order regarding constituting the Company Law Committee. This order was released for the continuation of the order dated 18th September 2019 and 17th September, 2020.

The Order stated that the tenure of the Company Law Committee is hereby further extended by one year from the date of expiry of the last order. READ MORE

‘GOVT. ANNOUNCES 100 PERCENT FDI IN THE TELECOM SECTOR THROUGH THE AUTOMATIC ROUTE

The Government of India released an order regarding constituting the Company Law Committee. This order was released for the continuation of the order dated 18th September 2019 and 17th September, 2020.
The Order stated that the tenure of the Company Law Committee is hereby further extended by one year from the date of expiry of the last order.READ MORE

FDI INFLOWS GROW 62% IN THE FIRST FOUR MONTHS OF CURRENT FINANCIAL YEAR

The Government of India released an order regarding constituting the Company Law Committee. This order was released for the continuation of the order dated 18th September 2019 and 17th September, 2020.
The Order stated that the tenure of the Company Law Committee is hereby further extended by one year from the date of expiry of the last order.READ MORE

VODAFONE-IDEA LIFELINES AS INDIA APPROVES FOUR-YEA MORATORIUM ON TELCO DUES

The Government of India released an order regarding constituting the Company Law Committee. This order was released for the continuation of the order dated 18th September 2019 and 17th September, 2020.
The Order stated that the tenure of the Company Law Committee is hereby further extended by one year from the date of expiry of the last order.READ MORE

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INTELLECTUAL PROPERTY LAW

AD INTERIM IN JUNCTION

The Bombay High Court in the matter of Pidilite Industrial Ltd. V. Saathi Adhesives Pvt. Ltd. Granted an ad-interim injunction. The injunction was granted in order to restrain the defendant from the usage of any such marks which is deceptively similar to the plaintiff’s registered ‘FEVICOL’, ‘SH’, ‘MARINE’, and ‘D3’ marks.READ MORE

PATENT FEES FOR EDUCATIONAL INSTITUTIONS REDUCED BY 80% PATENTS (AMENDMENT) RULES,2021

The Department for Promotion of Industry and Internal Trade has reduced the patent fees for educational institutions by 80%. This reduction in fees has been done by the Patents (Amendment) Rules, 2021 which came into effect on 21st September, 2021.READ MORE

PERMANENT IN JUNCTION

The Delhi High Court in the case of M/S Greenply Industries Ltd. V. M/S New Krishna Glass & Hardware granted a permanent injunction restraining the defendant from using their mark ‘GREEN FOREST’ or any marks deceptively similar to the plaintiff’s registered ‘GREEN’ mark. READ MORE

COMPUTING TECHNOLOGY INDUSTRY V. BENETT, COLEMAN AND COMPANY LIMITED

The Delhi High Court in this case granted certain directions based on the consent of both parties. The directions were provided in order to avoid the confusion between the defendant’s use of the term ‘CHANNELCON’ or ‘CHANNELICON’ marks and the ‘CHANNELICON’ conference which is organized by Economic Times. READ MORE

KEY MEMBERS

Mr. Vipul Maheshwari
vm@maheshwariandco.com
Ms. Jyotsna Chaturvedi
jyotsna@maheshwariandco.com

CONTACT US
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INFORMATION AND TECHNOLOGY

CBSE TO USE BLOCKCHAIN TECHNOLOGY TO SECURE BOARD RELATED
DOCUMENTS

The Central Board Secondary Education (CBSE) will be using a blockchain technology to ensure academic documents are recorded in “a secure and tamper-proof manner.” To be known as “Academic (BlockChain) Documents” (ABCD), the academic documents can be accessed online in a verifiable manner.Read More

WITH AI, DATA ANALYTICS, HUL REDUCES TIME FROM PRODUCT IDEATION TO SHELF BY HALF

Hindustan Unilever said it has slashed time taken for sourcing materials, product innovation,  manufacturing and distribution by over half after it used artificial intelligence, new technology and data analytics post covid last year.READ MORE

TCS INKS 10-YEAR DEAL WITH TRANSPORT FOR LONDON TO DESIGN, OPERATE MOBILITY SYSTEM

TCS will design and launch the new system using its DigiGOV framework for rapid digital transformation.
The new system will be flexible and extensible to comply with evolving policy requirements and legislation.READ MORE 

FAKE E-COMMERCE WEBSITES CON INDIANS AMONG FESTIVE SEASON BOOM

As leading e-commerce platforms gear up for record revenues in the festive season, several fake and malicious e- commerce platforms have proliferated in the country. The cyber authorities failed to protect users, who are falling prey to online scamsters using the Facebook Page ad network to con Indians.READ MORE

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