Haryana has notified the much criticized law for reserving 75% of new jobs in private sector for domiciles of the state i.e. candidates who were either born in Haryana or have been living in Haryana for at least 15 years. The bill called the Haryana State Employment of Local Candidates bill, 2020 was given assent by Governor Satyadeo Narain Arya on 26th February 2021. The law is applicable to all new recruitments for jobs having a salary of less than Rs. 50,000 and is applicable to all privat..
Generally the courts in India, while granting bail to an accused imposes a condition that the accused should surrender his passport and will not leave the jurisdiction of the court without prior permission of the court or if the need arises may issue a look out notice to ensure that the accused is available at all times to join investigation and to face the charges against him. Now question arises is if there is a look out circular issued against an accused or such condition imposed by the co..
The bankruptcy code is a one stop solution for resolving insolvencies, which previously was a long process that did not offer an economically viable arrangement. The code aims to protect the interests of small investors and make the process of doing business less cumbersome. The Code also consolidates provisions of the current legislative framework to form a common forum for debtors and creditors of all classes to resolve Insolvency. The IBC has 255 sections and 11 Schedules. Before goin..
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 18th January, 2021 ANNOUNCEMENT Sub: Relaxation by SEBI for non-submission of hard copy of Annual Report to Shareholders and dispension from sending proxy forms in case meeting is held electronically by Listed Entities till 31.12.2021 due to the COVID-19 pandemic This is to inform you that Securities and Exchange Board of India (SEBI) pursuant to the relaxations granted by MCA, has rela..
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 18th January, 2021 ANNOUNCEMENT Sub: Amendment in provision of SEBI (ICDR) Regulations, 2018 relating to cases where minimum promoter’s contribution is not required 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. After amen..
SEBI Board Meeting The SEBI Board met in Mumbai today. The out of station Members joined the meeting through video conferencing. The Board, inter-alia, took the following decisions: I. Amendments to SEBI (Mutual Funds) Regulations, 1996 SEBI, in consultation with various stakeholders, undertook a detailed exercise on review of SEBI (Mutual Funds) Regulations, 1996 (hereinafter called as “MF Regulations”) and various circulars issued thereunder in order to examine certain po..
Consultation Paper Review of framework of Innovators Growth platform (IGP) under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. 1. Objective 1.1. The objective of this discussion paper is to seek comments / views from various stakeholders including start-ups in particular, market intermediaries and the public on the framework of Innovators Growth platform (IGP) under Chapter X of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the SEBI ICD..
Cabinet approves the proposal of Securities & Exchange Board of India (SEBI) to sign Bilateral Memorandum of Understanding between India and Luxembourg The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for the proposal of Securities & Exchange Board of India (SEBI) to sign a bilateral Memorandum of Understanding (MOU) between Securities and Exchange Board of India and Financial and Commission de Surveillance du Secteur Financier (CSSF), Luxembo..
Consultation Paper - Compliance Standards for Index Providers 1. Objective To solicit the comments / views from market participants on compliance standards for index providers, to enhance greater level of transparency, promoting the reliability of benchmark determinations, addressing benchmark governance and accountability mechanisms, by providing a broad framework for index providers managing / maintaining Indices. 2. Background 2.1. To create an overarching framework of Principles ..
CIRCULAR SEBI/HO/MIRSD/RTAMB/CIR/P/2020/236 December 02, 2020 To All Listed Companies (through Stock Exchanges) All Registrars to an Issue & Share Transfer Agents (RTA) All Depositories All Recognized Stock Exchanges All Depository Participants (DP) Dear Sir/ Madam, Sub: Operational guidelines for Transfer and Dematerialization of re-lodged physical shares 1. SEBI, vide circular no. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/166 dated September 07, 2020, has fixed March 31, 2021 as the..
We had applied for LUT, but the client accidentally paid via money transfer (like western union) to our current bank account. Since amount recieved is in INR and country is Israel, also I cannot get an FIRC for same as purpose code with these services is "Family assistance" as it shows in transaction desceiption. It is second time he made this mistake, since he was used to making payment same way to the director(me) before incorporation of a company. For the last payment I just transferred i..
Justice is based substantially on natural ideals and human values and justice can be secured and delivered only after hearing both the parties to the issue. The principle of natural justice plays a pivotal role in the justice delivery system. The main intention of this write up is that the Principle of natural justice should be applied uniformly in all Domestic Violence (in short "DV") cases registered in India under the Protection of Women from Domestic Violence Act, 2005 (in short..