MCA Weekly Updates (from 05.09.2020 to 12.09.2020)

Weekly MCA Updates
from 05.09.2020 to 12.09.2020

Sl. No.	Particulars	Link
1	the Companies (Acceptance of Deposits) Amendment Rules, 2020.	Click here
2	Corrigendum to advertisment issued vide O.M. No. 10/121/2016-NCLT (Pt.III) dated 17.08.2020 for filling up the posts of Joint Registrar, Deputy Registrar, Assistant Registrar, Programmer, Court Officer, Private Secretary, Senior Legal Assistant, Assistant Library Information Officer, Assistant, Stenographer Grade-II/ Personal Assistant, Stenographer Grade-III, Cashier, Record Assistant and UDC on deputation basis in National Company Law Tribunal(NCLT) Benches	Click here
3	Filling up the posts of Joint Registrar, Deputy Registrar, Assistant Registrar, Programmer, Court Officer, Private Secretary, Senior Legal Assistant, Assistant Library Information Officer, Assistant, Stenographer Grade-II/ Personal Assistant, Stenographer Grade-III, Cashier, Record Assistant and UDC on deputation basis in National Company Law Tribunal(NCLT) Benches. Last date for receipt of applications is 19.10.2020	Click here
4	Relaxation of additional fees and extension of last date of filing of CRA-4 (form for filing of cost audit report) for FY 2019-20 under the Companies Act, 2013	Click here
5	AGM Extension orders Uploaded for various ROC’s	Click here

Disclaimer:

IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

SEBI Weekly Updates (from 05.09.2020 to 12.09.2020)

Weekly SEBI Updates

from 05.09.2020 to 12.09.2020

Sl. No.	Particulars	Link
1	Public Issue : Mazagon Dock Shipbuilders Limited - Addendum to the DRHP	Click here
2	Gokul Refoils and Solvent Limited - Letter of Offer	Click here
3	Circular on Re-lodgement of Transfer Requests Shares	Click Here
4	Interim Order in the matter of Mr. Yash Chawla, Sole Proprietor of Khelo MCX Research Services	Click Here
5	Debt Offer Document : Muthoottu Mini Financiers Limited - Prospectus	Click Here
6.	Circular on Entities permitted to undertake e-KYC Aadhaar Authentication service of UIDAI in Securities Market – Addition of NSE to the list	Click Here
7.	Monthly SEBI Bulletin: August 2020	Click Here
8.	Order in the matter of Delisting of Equity Shares of Aaradhana Realties Limited	Click Here
9.	Releasing Order of Mukerian Papers Ltd. in the matter of Non redressal of investor complaints: Certificate No. 64 of 2014	Click Here
10.	Press Release: Re-lodgement of Transfer Requests of Shares	Click Here
11.	Operating Guidelines for Portfolio Managers in International Financial Services Centre	Click Here
12.	Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 - System driven disclosures	Click Here
13.	Confirmatory Order in the matter of Smart Investment Services – Proprietor Ms. Rinkee Prajapati	Click Here
14.	Buybacks : Tender Offers, MPS Limited - Letter of Offer	Click Here
15.	Notice for Refund in the matter of Shah Group Builders Limited	Click Here
16.	Buybacks: Cheviot Company Ltd. - Public Announcement	Click Here
17.	Unserved Show cause Notices in the matter of Secunderabad Healthcare Limited	Click Here
18.	Circular on Asset Allocation of Multi Cap Funds	Click Here
19.	Consultation Paper on review of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015	Click Here
20.	Certificate No. 2971 - A.P No 5939 & 5940 of 2020 - N M Impex Pvt. Ltd. in the matter of Dealing in Illiquid Stock Options at the BSE.	Click Here
21.	Circular on Asset Allocation of Multi Cap Funds	Click Here

Disclaimer:

IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

Draft Certificate for PAS-6 Form (MCA)

Draft Certificate by practicing professional

I declare that I --------------- (PCS / PCA) have been duly engaged for the purpose of certification of this form. It is hereby certified that I have gone through the provisions of the Companies Act, 2013, the Depositories Act, 1996 and rules/regulations made thereunder for the subject matter of this form and matters incidental thereto and I have verified the above particulars (including attachment(s)) from the original records maintained by the Company (name of the company) which is subject matter of this form and found them to be true, correct and complete and no information material to this form has been suppressed. I further certify that:

a)      The said records have been properly prepared, signed by the required officers of the Company and maintained as per the relevant provisions of the Companies Act, 2013 and the Depositories Act, 1996 and were found to be in order;

b)     All the required attachments have been completely and legibly attached*to this form;

c)      It is understood that I shall be liable for action under Section 448 of the Companies Act, 2013 for wrong certification, if any found at any stage.

Signature

Chartered Accountant in Practice / Company Secretary in practice

(whether Associate or Fellow)

Membership No. &  CP No.

UDIN:

Note: This e-form has been taken on file maintained by the Registrar of Companies through electronic mode arid on the basis of statement of correctness given by the filing company. Attention is also drawn to provisions of Section 448 which provide for punishment for false statement and certification.”

Disclaimer:

IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

System driven disclosures under Reg. 7(2) of SEBI (PIT) Regulations, 2015

System driven disclosures under Reg. 7(2) of SEBI (PIT) Regulations, 2015

·         Overview

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/ISD/ISD/CIR/P/2020/168 issued and publish dated 09^th September, 2020, has published - Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 - System driven disclosures.” in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with regulations 4(3) and 11 of the PIT Regulations.

Ø Purpose behind this notification

To protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Ø  The Circular is issued to:

·         All Listed Companies

·         All Depositories

·         All Nationwide Stock Exchanges

Ø Previous circulars reference:

1.      SEBI has further amended SEBI  (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations) Vide Gazette Notification No. SEBI/LAD-NRO/GN/2020/23 dated July 17, 2020.

2.      SEBI has implemented the system driven disclosures in phases, under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and PIT Regulations vide circular no. CIR/CFD/DCR/17/2015 dated December 01, 2015, FD/DCR/CIR/2016/139 dated December 21, 2016 and SEBI/HO/CFD/DCR1/CIR/ P/2018/85 dated May 28, 2018,

Ø  Now SEBI has decided to implement the system driven disclosures under Regulation 7(2) of PIT Regulations for:

·            member(s) of promoter group and

·            designated person(s) in addition to the promoter(s) and

·            director(s) of company (hereinafter collectively referred to as entities)

 New Norms Prescribed

Sl.	Compliance particulars	Timelines
1	the disclosures pertaining to PIT Regulations are disseminated on the websites of respective stock exchanges	Applicable w.e.f. 01.10.2020
2	entities shall continue to independently comply with the disclosure obligations under PIT Regulations as applicable to them	Till 31.03.2021
3	the disclosures generated through the system shall be displayed separately from the regular disclosures filed with the exchanges.	current system (no change)

Kindly note that: To begin with, the system driven disclosures shall pertain to trading in equity shares and equity derivative instruments i.e. Futures and Options of the listed company (wherever applicable) by the entities.

Key points regarding steps required to be taken for implementation OF System driven disclosures:

1.     Listed company shall provide the information including PAN number of Promoter(s) including member(s) of the promoter group, designated person(s) and director(s) (hereinafter collectively referred to as entities) as per PIT Regulations to the designated depository.

2.     The designated depository shall share the information received from the listed company with other depository.

3.     IN CASE OF ANY CHANGE / UPDATE IN ENTITITY’S DETAILS

Listed entity shall update the same with designated depository on same day (EVENT DATE) and then designated depository will intimate the other depository on the day of receipt from the listed company

4.     In case of PAN exempt entity, respective depository shall share the Demat account number(s) details with the stock exchanges.

5.     The depositories shall provide the following data pertaining to the tagged Demat account(s) separately to the stock exchanges on daily basis:

·         Details of transactions for pledge/revocation/invocation of shares and other encumbrances such as NDU etc. of the entities.

·         Details of off market transactions of the entities.

·         Details of transmission of shares of the entities.

·         Details of corporate actions such as ESOPs, Bonus, Rights, etc. of the entities

·         Additionally, details of market transfers in case of PAN Exempt entities.

6.     On consolidation of the transactions, if the disclosure is triggered under Regulation 7(2) of PIT Regulations, the stock exchanges shall disseminate the same on their websites. The transaction(s) carried out on T day shall be disseminated on T+2 day basis.

6.

Ø Source:  click here

Disclaimer:

IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.