Due Date Compliance Calendar December 2021

Article compiles due dates of compliance related to GST, Income Tax, ESI, PF Acts which includes compliance related to GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8,  RFD-10, Due dates for payment of TDS/TCS, Dues date for Payment of Advance Tax, Due date for Issue of TDS/TCS Certificates, Due date for linking of Aadhaar number with PAN, Due date for payment of PF/ESIC and Due date for PF Return filling (including pension & Insurance scheme forms).

About Article:

This article contains various Compliance requirementsfor the Month of December, 2021under various Statutory Laws.

Compliance Requirement Under

1.Income Tax Act, 1961

2.Goods & Services Tax Act, 2017 (GST)and Important Updates / Circulars

3Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications

4.Other Statutory Lawsand Updates

5.SEBI (Listing Obligations &DisclosureRequirements) (LODR) Regulations, 2015

6. SEBI Takeover Regulations 2011

7.SEBI (Prohibition of Insider Trading) Regulations, 2015

8.SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

9.SEBI (Buyback of Securities) Regulations, 2018

10. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications

11. Companies Act, 2013 (MCA/ROC Compliance) and Notifications

12. Insolvency and Bankruptcy Board of India (IBBI) Updates

  1. Compliance requirement under Income Tax act, 1961
  Sl.  Compliance Particulars  Due Dates  
1Due date of depositing TDS/TCS liabilitiesunder Income Tax Act, 1961 for previousmonth.07.12.2021
2.Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of October, 202115.12.2021
  3Due date of furnishing of Form 24G by anoffice of the Government where TDS/TCS forthemonthofNovember, 2021hasbeenpaid without the production of a challan15.12.2021
  4Due date for payment of 3rd Installement ofAdvance Tax for FY 2021-2215.12.2021
5Due date for furnishing of challan-cum-statement in respect of tax deductedunder section 194-IA, 194-IB, 194-IM, in themonth of November, 202130.12.2021
            6“Return of income for the assessment year2021-22 for all assessee other than (a)corporate-assessee or (b) non-corporateassessee (whose books of account arerequired to be audited) or (c) partner of a firmwhose accounts are required to be audited orthe spouse of such partner if the provisions ofsection 5A applies or (d) an assessee who isrequired to furnish a report under section92E.   The due date for furnishing of return ofincome for Assessment Year 2021-22 hasbeen extended from July 31, 2021 toSeptember 30, 2021 vide Circular no. 9/2021,dated 20-05-2021   The due date for furnishing of return ofincome for Assessment Year 2021-22 hasbeen further extended from September 30,2021 to December 31, 2021 vide Circular no.17/2021, dated 09-09-2021”            31.12.2021
      7“Return of income for the assessment year2021-22 in the case of an assessee if he/it isrequired to submit a report under section 92Epertaining to international or specifieddomestic transaction(s).   The due date for furnishing of return ofincome for Assessment Year 2021-22 hasbeen extended from November 30, 2021 toDecember 31, 2021 vide Circular no. 9/2021,dated 20-05-2021”      31.12.2021
            8“Furnishing of Equalisation Levy statement forthe Financial Year 2020-21 The due date for furnishing of EqualisationLevy statement has been extended from June30, 2021 to July 31, 2021 vide Circular no.12/2021, dated 25-06-2021.   The due date for furnishing of Equalisation Levy statement has been extended from July 31, 2021 to August 31, 2021 vide Circular no. 15/2021, dated 03-08-2021   The due date for furnishing of Equalisation Levy statement has been further extended from August 31, 2021 to December 31, 2021 vide Circular no. 16/2021, dated 29-08-2021”            31.12.2021
          9“A self-declaration form for seeking non-deduction of TDS on specific income as annual income of the tax assessee is less than the exemption limit. Upload declarations received from recipients in Form No. 15G/15H during the quarter ending September, 2021   The due date for uploading declarations has been further extended from October 15, 2021 to December 31, 2021 vide Circular no. 16/2021, dated 29-08-2021”            31.12.2021
  • Income Tax Due Date – Extensions
Sl.Nature of ExtensionProvisions / Forms of IT Act 1961Original Due DateExtended Due Date
1The application in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc.,Under Section 10 (23C), 12AB, 35 (1) (ii) /(iia) / (iii) and 80G of the Act    30.06.2021    31.03.2022
2The Quarterly Statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021    Form No. 15CC    30.06.2021    31.12.2021
3The Quarterly statement in Form No. 15CC to be fumished by authorized dealer in respect of remittances made for the quarter ending on 30 September, 2021     15.10.2021    31.12.2021
4The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21  Form No. 1  30.06.2021  31.12.2021
5Intimation by a constituent entity, resident in India, of an international group, the parent entity of which is not resident in India for the purposes of section 286 (1)  Form No.3CEAC  30.11.2021  31.12.2021
6Report by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of section 286 (2) / 286 (4)  Form No.3CEAD  30.11.2021  31.12.2021
7Intimation on behalf of an international group for the purposes of the proviso to sub-section (4) of section 286 of the Act  Form No.3CEAE  30.11.2021  31.12.2021
8Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th September, 2021Form No. 15G/15H15.10.202131.12.2021
9Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th September,2021  Form II SWF  31.10.2021  31.12.2021
10Intimation to be made by a Pension Fund in respect of each investment (11) made by it in India in Form No. 10BBB for the quarter ending on 30 September, 2021    Form No. 10BBB    31.10.2021    31.12.2021
  • Important Notifications – For the month of November – 2021:
Sl.Particulars of the Notification(s)File No. / Circular No.Link(s)
1.TheCentral Government hereby approves „Pimpri Chinchwad College of Engineering‟Notification No. 128/2021Click Here
  2.Thee-Settlement Scheme, 2021Notification No. 129/2021  Click Here
  3.TheCentral Government hereby specifies the pension fund, namely, the School EmployeesRetirement System of Ohio  Notification No. 130/2021  Click Here
  4.Income Tax Department conducts searches in Bihar and JharkhandRelease ID: 1768467  Click Here
  5.Income Tax Department conducts searches in Tamil NaduRelease ID: 1768838  Click Here
  6.Income Tax Department conducts searches in KarnatakaRelease ID: 1769134  Click Here
  7TheCentral Government hereby notifies for the purposes of the said clause, ‘AssamBuilding and Other Construction Workers Welfare Board’Notification No. 131/2021  Click Here
8Application for Standing Counsels to represent the Income Tax Department in NerApplication  Click Here
9Income Tax Department conducts searches in MaharashtraRelease ID: 1769680  Click Here
10Income Tax Department conducts searches in Jammu & Kashmir and PunjabRelease ID: 1769500  Click Here
11Guidelines under sub-section (4) of section 194-O, sub-section (3) of section 194Q and sub-section (1-I) of section 206C of the Income-tax Act, 1961 !NeCircular No. 20 of 2021Click Here
12TheIncome tax (32ndAmendment), Rules, 2021.Notification No. 132/2021Click Here
13Notification No. 133/2021 [F. No. 300196/7/2021-ITA-I] / SO 4841(E) : Notification No. 133/2021 [F. No. 300196/7/2021-ITA-I] / SO 4841(E) !NewNotification No. 133 /2021  Click Here

2. Compliance Requirement underGST, 2017

Filing of GSTR –3B

A. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax periodDue DateNo interest payable tillParticulars
November, 202120thDecember, 2021Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year

B. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

Tax periodDue DateNo interest payable tillParticulars
November, 202122ndDecember, 2021 Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

C. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax periodDue DateNo interest payable tillParticulars
November, 202124thDecember, 2021  
Group B States:Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

D. Filing Form GSTR-1:

Tax periodDue DateRemarks
Monthly return (November, 2021)11.12.2021“1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceeding year.   2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP”

E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

Form No.Compliance ParticularsTimeline Due Date
GSTR-5 & 5ANon-resident ODIAR services provider file Monthly GST Return20th of succeeding month           20.12.2021
  GSTR -6Every Input Service Distributor (ISD)  13th of succeeding month  13.12.2021
  GSTR -7Return for Tax Deducted at source to be filed by Tax Deductor  10th of succeeding month  10.12.2021
  GSTR -8E-Commerce operator registered under GST liable to TCS10th of succeeding month10.12.2021

F. GSTR – 1 QRMP monthly return

Form No.Compliance ParticularsTimeline Due Date
  Details of outward supply-IFFGST QRMP monthly return due date for the month of November, 2021 (IFF). Applicablefor taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.  13th of succeeding month     13.12.2021

G. GST Refund:

Form No.Compliance ParticularsDue Date  
RFD -10Refund of Tax to Certain Persons18 Months after the end of quarter for which refund is to be claimed
  • Other Returns:
Form No.Compliance ParticularsTimeline Due Date
    CMP-08GST ChallanPayment fortaxpayer, withaggregate turnover of less than INR 5Crores during preceeding year, who hasopted for quarterly filing of returns.GST Challanpayment ifNosufficient ITC available    25.12.2021
  • Annual Returns:
Form No.Compliance ParticularsDue Date
    GSTR – 9GSTR-9 is Annual Return applicable for registered person with aggregate turnover exceeding INR 2 Crores during the F.Y. 2020-21. However, registered person with aggregate turnober upto INR 2 Crores have option to file GSTR-9.    31.12.2021
  GSTR – 9CGSTR-9C is reconciliation statement applicable for registered person with aggregate turnover exceeding INR 5 Crores during the F.Y. 2020-21.  31.12.2021
  • GST UPDATES – from 01.11.2021 to 30.11.2021:
Sl.Notification ParticularsNotification No.Link(s)
1.  CBIC Chairman inaugurates Customs & GST pavilion at 40th India International Trade Fair  17/2021-Central Tax (Rate), dt. 18-11-2021  Click Here
2.Seeks to amend Notification No 12/2017- Central Tax (Rate) dated 28.06.2017.16/2021-Central Tax (Rate), dt. 18-11-2021  Click Here
3.Seeks to amend Notification No 11/2017- Central Tax (Rate) dated 28.06.2017.15/2021-Central Tax (Rate), dt. 18-11-2021  Click Here
4.Seeks to further amend notification No. 01/2021-Central Tax (Rate) dated 28-06-202114/2021-Central Tax (Rate), dt. 18-11-2021  Click Here
5.Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020  165/21/2021-GST      Click Here
6Circular on Clarification on refund related issues166/22/2021-GST    Click Here
7Improvements in GSTR-1GSTN 513Click Here
8Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020  165/21/2021-GST    Click Here
9Removal of Inverted Tax Structure on MMF Textiles Value chain and uniformity of rates brings relief to Textiles sector;Press Release ID: 1773973  Click Here
10Centre releases two installments of tax devolution to State Governments amounting to Rs. 95,082 crore as against normal monthly devolution of Rs. 47,541 crore  Press Release ID: 1774224    Click Here
11Module wise new functionalities deployed on the GST Portal for taxpayersGSTN 496Click Here
12Seeks to make amendments (Ninth Amendment, 2021) to the CGST Rules, 2017.37/2021-Central Tax dated 01.12.2021  Click Here

3. Key Compliances under FEMA / RBI

Applicable Laws/ActsDue DatesCompliance ParticularsForms / (Filing mode)
    FEMA ACT 1999  Not later than 30 days from the date of issue of Capital instrument  FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India.    Form FC-GPR
      FEMA ACT 1999  With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier.  Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee.      Form FC-TRS.
    FEMA ACT 1999within 30 days from the date of receipt of the amount of consideration.  A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1    Form FDI LLP-I
    FEMA ACT 1999  within 60 days from the date of receipt of funds in  A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa)  Form FDI LLP-II
  FEMA ACT 1999  within 30 days from the date of allotment of capital instruments  The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts  Downstream statement -Form DI & reporting at FIFP too
  • RBI Circulars / Notifications: November, 2021
  Sl.  Particulars of the Circulars  Link
1Opening of Current Accounts by Banks – Need for DisciplineClick here
2Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs  Click here
3Prompt Corrective Action (PCA) Framework for Scheduled Commercial Banks  Click here
4Master Circular- Guarantees, Co-Acceptances & Letters of Credit – UCBsClick here
5Cancellation of Certificate of AuthorisationClick here
6Unity Small Finance Bank Limited commences operationsClick here
7RBI Governor meets MD & CEOs of Public Sector Banks and certain Private Sector Banks over Video ConferenceClick here
8RBI releases the Report of the Committee on functioning of Asset Reconstruction Companies and review of regulatory guidelines applicable to them for public comments    Click here
9RBI announces rate of interest on Government of India Floating Rate Bonds, 2024Click here
10.Reserve Bank of India – Bulletin Weekly Statistical Supplement – ExtractClick here
11.Investment by Foreign Portfolio Investors (FPIs) in Debt – ReviewClick here
12Master Circular – Guarantees and Co-acceptances  Click here
13Reserve Bank – Integrated Ombudsman Scheme, 2021  Click here
14Foreign Currency (Non-resident) Accounts (Banks) Scheme [FCNR(B)] – Master Direction on Interest Rate on Deposits  Click here
15Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications  Click here
16RBI launches its First Global Hackathon – HARBINGER 2021Click here
17Overseas Direct Investment for October 2021Click here
18Underwriting Auction for sale of Government Securities for ₹24,000 crore on November 12, 2021  Click here
19Launch of RBI-Retail Direct Scheme and Reserve Bank- Integrated Ombudsman Scheme by Hon’ble Prime Minister on November 12, 2021  Click here
20Reserve Bank of India – Bulletin Weekly Statistical Supplement – ExtractClick here

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4. Compliance under Other Statutory LAws

  Applicable Laws/Acts    Timeline / Due Dates  Compliance Particulars  Forms / (Filing mode)
EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)  15.12.2021  PF Payment  ECR
ESIC (Employees’ State Insurance Act, 1948)  15.12.2021  ESIC PaymentESI Challan
  Contract Labour (Regulation &Abolition) Act, 1970  Within 15 Days of commencement/ completion of contract workReturn/Notice within 15 days of commencement/ completion of each contract by the Principal employerForm VI-B
  Contract Labour (Regulation &Abolition) Act, 1970  Within 15 Days of commencement/ completion of contract workNotice of commencement/ completion of contract work by the Contractor within 15 daysForm VI-A
  Payment of Gratuity RuleWithin 30 Days of applicability of the Act & any changeNotice of applicability of the Act & any changeForm A or B
  • Updates TRACKER under Labour LAws – November, 2021:
Sl.ParticularsLink
1Wage Revision of MOIL Workers Announced    Click Here
2#EPFO never asks its members to share their personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or on social media.  Click Here
3#EPFO offices have settled a total of 1.65 crore claims, disbursing an amount of Rs. 56,834 crores to PF members from 01.04.2021 to 30.09.2021.  Click here
4#EPFO offices have settled a total of 52.17 lakh COVID-19 advance claims, disbursing an amount of Rs. 11,182 crores to PF members from 01.04.2021 to 30.09.2021.    Click Here
5Visit FAQs section on EPFO’s official website & clear all your doubts or queries.  Click Here
66.47 crore accounts have been credited with an interest of 8.50% for the FY 2020-21. Next update on 15-11-2021.    Click Here
7Members can download UAN Card, Pension Payment Order (PPO) and Scheme Certificate through #DigiLocker.  Click Here
8Salient Features of Employees’ Deposit Linked Insurance (EDLI) Scheme, 1976.  Click here
9EPS’95 Pensioners can now submit Life Certificate at any time which will be valid for 1 year from date of submission.    Click Here
10Avail services of #EPFO on #UMANG App – the only official App of EPFO.  Click Here

5. SEBI – Securities Exchange Board of INDIA

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

1. Half Yearly Compliances:

  Sl. No.  Regulation No.  Compliance Particular  Compliance Period (Due Date)Due Date
1.Regulation 23(9)Related party transactions.  The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its websiteWithin 30 days of FR

2. Regular / Annual Compliances:

REG NOREGULATION NOPARTICULARSTIMELINE
47 Advertisements in Newspapers.47 (3) Advertisements in NewspapersFinancial results at 47 clause (b) of sub-regulation (1), shall be published within 48 hours of conclusion of the meeting of board of directors at which the financial results were approved.48 HOURS
23 Related party transactions.Reg 23(9) Related party transactionsThe listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website30 days
24A Secretarial Audit.Red 24AEvery listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be specified with effect from the year ended March 31, 2019. (within 60 days from the Closure of FY)60 days from the Closure of FY
46 Website46(2)(s)The listed entity shall disseminate the following information under a separate section on its website separate audited financial statements of each subsidiary of the listed entity in respect of a relevant financial year, uploaded at least 21 days prior to the date of the annual general meeting which has been called to inter alia consider accounts of that financial year.]21 days prior 1 days prior to the date of AGM

3. Quarterly compliance which included half year compliance except FR

REG NOREGULATION NOPARTICULARSTIMELINE
IntimationReg 29 read with Reg 33intimation regarding item specified in clause 29(1) (a) to be discussed at the meeting of board of directors shall be given at least five days in advance (excluding the date of the intimation and date of the meeting), and such intimation shall include the date of such meeting of board of directors at least 5 working days in advance, excluding the date of the intimation and date of the meeting
Intimations and Disclosure of events or information to Stock Exchanges.87B: Intimations and Disclosure of events or information to Stock Exchanges. READ WITH PART E OF Schedule IIIThe listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information:        24 HOURS
Valuation, Rating and NAV disclosure.87C(1) (iii)An issuer whose security receipts are listed on a stock exchange shall ensure that: the net asset value is calculated on the basis of such independent valuation and the same is declared by the asset reconstruction company within fifteen days of the end of the quarter.  15 Days

4. Event based Compliances

REG NOREGULATION NOPARTICULARSTIMELINE
30 Disclosure of events or information.30(6) AND Part A of Schedule IIIThe listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information24 HOURS
30 Disclosure of events or information.30(6) AND sub-para 4 of Para A of Part A of Schedule IIIThe listed entity shall disclose to the Exchange(s), within 30 minutes of the closure of the meeting held to consider the following:
a) dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched;
b) any cancellation of dividend with reasons thereof;
c) the decision on buyback of securities;
d) the decision with respect to fund raising proposed to be undertaken
e) increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched;
f) reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to;
g) short particulars of any other alterations of capital, including calls; h) financial results; i) decision on voluntary delisting by the listed entity from stock exchange(s).
30 MINUTES
31A: Conditions for re-classification of any person as promoter / public31A(8)The following events shall deemed to be material events and shall be disclosed by the listed entity to the stock exchanges as soon as reasonably possible and not later than twenty four hours from the occurrence of the event:
(a) receipt of request for re-classification by the listed entity from the promoter(s) seeking re-classification;
(b) minutes of the board meeting considering such request which would include the views of the board on the request;
(c) submission of application for re-classification of status as promoter/public by the listed entity to the stock exchanges;
(d) decision of the stock exchanges on such application as communicated to the listed entity;
24 HOURS
34 Annual Report.34(1)(b)In the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.]48 HOURS
44 Meetings of shareholders and voting44(3)The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.48 HOURS
47 Advertisements in Newspapers.47 (3) Advertisements in NewspapersThe listed entity shall publish the information specified in 47(1) in the newspaper simultaneously with the submission of the same to the stock exchange(s). The same is reproduced below
47(1) (a) notice of meeting of the board of directors where financial results shall be discussed (c )statements of deviation(s) or variation(s) as specified in sub-regulation (1) of regulation 32 on quarterly basis, after review by audit committee and its explanation in directors report in annual report;
(d) notices given to shareholders by advertisement
Simultaneously
SCHEDULE III PART PART A 7(A)resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor24 HOURS
SCHEDULE III PART PART A 7(B)In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities:
i. Detailed reasons for the resignation of independent directors as given by the said director shall be disclosed by the listed entities to the stock exchanges.
ii. The independent director shall, along with the detailed reasons, also provide a confirmation that there is no other material reasons other than those provided.
iii. The confirmation as provided by the independent director above shall also be disclosed by the listed entities to the stock exchanges along with the detailed reasons as specified in sub-clause (i) above.]
7 days from the date of resignation
7 Share Transfer Agent.Reg 7(4) & (5) Share Transfer Agent.The listed entity shall intimate any change or appointment of a new share transfer agent, to the stock exchange(s) within seven days of entering into the agreement.7 DAYS
29Reg 29(1)The intimation required under 29 (1), shall be given at least two working days in advance, excluding the date of the intimation and date of the meeting Reg 29(1) is reproduced below: (b) proposal for buyback of securities ; (c) proposal for voluntary delisting by the listed entity from the stock exchange(s); (d) fund raising by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price:
Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. (e) declaration/ recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. (f) the proposal for declaration of bonus securities where such proposal is communicated to the board of directors of the listed entity as part of the agenda papers:
 at least 2 working days in advance, excluding the date of the intimation and date of the meeting
31 Holding of specified securities and shareholding pattern.Reg 31 (1)(a)The listed entity shall submit to the stock exchange(s) a statement showing holding of securities and shareholding pattern separately for each class of securities, in the format specified by the Board from time to time –
 one day prior to listing of its securities on the stock exchange(s);
1 day prior to listing of its securities on the stock exchange(s
31Reg 31 (1 (c)within ten days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital:within 10 days of any capital restructuring
31A Conditions for re-classification of any person as promoter / publicReg 31Aan application for re-classification of a promoter/ person belonging to promoter group to public to the stock exchanges has to be made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting30 days from the date of approval by shareholders in general meeting
37 Draft Scheme of Arrangement & Scheme of Arrangement.37(1)Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time.Before filling the same with any court or tribunal
39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities.39(2)The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within a period of thirty days from the date of such lodgement.30 Days
39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities39(3)The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information.2 days of its getting information.
40 Transfer or transmission or transposition of securities.40 (3)On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer15 days
40 Transfer or transmission or transposition of securities.40 (3)the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode within seven days after receipt of the specified documents:7 Days
40 Transfer or transmission or transposition of securities.40 (3)the listed entity shall ensure that transmission requests are processed for securities held in physical mode within twenty one days after receipt of the specified documents:21 Days
SCHEDULE VII: TRANSFER OF SECURITIES (PART B (1))In case of minor differences in the signature of the transferor(s), the listed entity shall follow the following procedure for registering transfer of securities:
(a) the listed entity shall promptly send to the first transferor(s), via speed post an intimation of the aforesaid defect in the documents and inform the transferor(s) that objection, supported by valid proof, is not lodged by the transferor(s) with the listed entity within fifteen days of receipt of the listed entity’s letter, then the securities shall be transferred
15 Days
42 Record Date or Date of closure of transfer books.42(2)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date:7 working days advance intimation excluding the date of the intimation and date of the meeting
42 Record Date or Date of closure of transfer books.42(2)in the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).]3 working days advance intimation excluding the date of the intimation and date of the meeting
42 Record Date or Date of closure of transfer books.42(3)The listed entity shall recommend or declare all dividend and/or cash bonuses at least five working days (excluding the date of intimation and the record date) before the record date fixed for the purpose.5 working days advance intimation excluding the date of the intimation and date of the meeting
46 Website46 (3)(b)The listed entity shall update any change in the content of its website within two working days from the date of such change in content. 2 working days
50 Intimation to stock exchange(s).50(1)The listed entity shall give prior intimation to the stock exchange(s) at least eleven working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.11 working days
50 Intimation to stock exchange(s).50(3)The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered. 2 working days advance intimation excluding the date of the intimation and date of the meeting
52 Financial Results.52 (4) & (5)The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents 7 working days
52 Financial Results.52 (4) & (8)The listed entity shall, within two calendar days of the conclusion of the meeting of the board of directors, publish the financial results and statement referred to in reg 52 (4), in at least one English national daily newspaper circulating in the whole or substantially the whole of India.two calendar days of the conclusion of the meeting
57 Other submissions to stock exchange(s).57(1)The listed entity shall submit a certificate to the stock exchange within two days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securitieswithin 2 days
60 Record Date60(2)The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the stock exchange(s) may agree to or require specifying the purpose of the record date. 7 working days advance intimation excluding the date of the intimation and date of the meeting
78 Record Date.78(2)The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record datenotice in advance of at least 4 working days
82 Intimation and filings with stock exchange(s).82(2)The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered. 2 working days in advance, excluding the date of the intimation and date of the meeting,
82 Intimation and filings with stock exchange(s).82(3)The listed entity shall submit such statements, reports or information including financial information pertaining to Schemes to stock exchange within seven days from the end of the month/ actual payment date, either by itself or through the servicer, on a monthly basis in the format as specified by the Board from time to time:
Provided that where periodicity of the receivables is not monthly, reporting shall be made for the relevant periods.
within 7 days
87 Record Date.87(2)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date 7 working days advance intimation excluding the date of the intimation and date of the meeting
87E Record Date.87E(2)The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the stock exchange(s) of the record date or of as many days as the stock exchange may agree to or require specifying the purpose of the record date. 7 working days advance intimation excluding the date of the intimation and date of the meeting

6. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic.”.

  Sl. No.  Regulation No.  Compliance ParticularCompliance Period (Due Date)
  1  Regulation 30(1)Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified.      The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within seven working days from the end of each financial year to;   every stock exchange where the shares of the target company are listed; and   the target company at its registered office
      2      Regulation 30(2)The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may  
        3.Regulation 31(1) read with Regulation 28(3) of Takeover Regulations AUGUST 7, 2019 CIRCULAR https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.htmlThe promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company,within 2 (two) working days
      4.      Regulation 31(4)      Disclosure of encumbered sharesPromoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified

7. SEBI (Prohibition of Insider Trading) Regulations, 2015

  Sl. No.  Regulation No.  Compliance ParticularCompliance Period (Due Date)  
          1        Regulation 7(2) “Continual Disclosures”Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified;Every company shall notify; within two trading days of receipt of the disclosure or from becoming aware of such information

8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

Sl. No.Regulation No.  Compliance Particular  Compliance Period (Due Date)  
      1Schedule XIX – Para (2) of ICDR Read with Reg 108 of SEBI LODR“The issuer shall make an application for listing from the date of allotment, within such period as may be specified by the Board from time to time, to one or more recognized stock exchange(s)”.   In regard to above, it is specified that Issuer shall make an application to the exchange/s for listing in case of further issue of equity shares from thedate of allotment within 20 days (unless otherwise specified).Within 20 days from the date of allotment  
2Regulation 162  The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment.  Within 18 months from date of allotment
3SEBI CIRCULAR Aug 19, 2019 https://www.sebi.gov.in/legal/circulars/aug-2019/non-compliance-with-certain-provisions-of-sebi-issue-of-capital-and-disclosure-requirements-regulations-2018-icdr-regulations-_43941.htmlApplication for trading approval to the stock exchange Listed entities shall make an application for trading approval to the stock exchange/s within 7 working days from the date of grant of listing approval by the stock exchange/s.  Within 7 working days from grant of date of listing approval
4Regulation 76 Application for rights issueThe issuer along with lead managers and other parties related to the issue shall constitute an optional mechanism (non-cash mode only) to accept the applications of the shareholders to apply to rights issue subject to ensuring that no third-party payments shall be allowed in respect of any application.  
5.Regulation 77 Service of DocumentsIn case if the company fails to adhere to modes of dispatch through registered post or speed post or courier services due to Covid-19 conditions it will not be treated as non-compliance during the said period.The issuers shall publish required & necessary documents on the websites of the company, registrar, stock exchanges and the lead managers to the rights issue.  
6Regulation 84   AdvertisementIssuer has the flexibility to publish the advertisement in additional newspapers above those required in Regulation 84. The advertisement should also be made available on:   A. Website of the Issuer, Registrar, Lead Managers, and Stock Exchanges.   B. Television channels, radio, the internet, etc. to spread information related to the process.

9. SEBI (Buyback of Securities) Regulations, 2018 (Buyback Regulations)

  Sl. No.  Regulation No.  Compliance Particular  Compliance Period (Due Date)  
          1        Regulation 11 and 24(iv)Extinguishment of equity shares in connection with Buyback The particulars of the security certificates extinguished and destroyed shall be furnished by the company to the stock exchanges where the shares or other specified securities of the company are listed within seven days of extinguishment and destruction of the certificates    7 days of extinguishment and destruction of the certificates
      2    Regulation 24(i) (f)      Minimum time between buy back and raising of fundsTemporary relaxation in the period of restriction provided in Regulation 24(i)(f) from “one year” to “six months” Applicable up to December 31, 2020 only

10. SEBI (Depositories and Participants) Regulations 2018)

  Sl. No.    Compliance Particulars  Due Date
  1.Regulation 76  (Quarter, January – March 2021) Reconciliation of Shares and Capital AuditWithin 30 days from end of quarter.  
  2.Regulation 74 (5): Processing of demat requests form by Issuer/RTAs – Certificate Received from RegistrarWithin 15 days from the end of each quarter
  • SEBI Circulars Tracker: 01.11.2021 to 30.11.2021
Sl.ParticularsLink
1Public Issues: Capital Small Finance Bank LimitedClick Here
2Informal Guidance Sought by ASK Wealth Advisors Private Limited regarding SEBI (Portfolio Managers) Regulations, 2020  Click Here
3Notice convening meeting of the Equity Shareholders of TIPS Industries Limited as per the directions of the Hon’ble National Company Law Tribunal, Mumbai Bench  Click Here
4SEBI Bulletin – October 2021 [MSWord]   [MSExcel]  Click Here
5Adjudication Order in respect of Bina Mundhra in the matter of dealings in Illiquid Stock Options at the Bombay Stock Exchange  Click Here
6.Dealing in unregulated products by SEBI registered Debenture TrusteesClick Here
7.NJ Long Term Equity FundClick Here
8.Latent View Analytics LimitedClick Here
9.Common and Simplified Norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination  Click Here
10.Takeovers – Supremex Shine Steels LimitedClick Here
11.SEBI Order for Compliance – Release Order for Recovery Certificate No. 3807 of 2021 – Pratik S. PatelClick Here
12.Write-off of debt securities held by FPIs who intend to surrender their registration  Click Here
13.Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2021  Click Here
14.Right Issues – Texmaco Rail & Engineering Limited  Click Here
15.Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2021  Click Here
16.Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2021  Click Here
17Securities and Exchange Board of India (Portfolio Managers) (Fourth Amendment) Regulations, 2021  Click Here
18Chairman’s speech dated 10.11.2021 at FICCI’s event on “Driving Climate Action through Disclosures: BRSR as Bedrock for ESG Action in India”  Click Here
19SEBI Chairman to inaugurate SEBI Pavilion at India International Trade Fair, New Delhi  Click Here
20Notice Inviting Objection/Claim, if any, in respect of Property of PACL at Noida, UP  Click Here
21Public Notices – Names of the Companies/Intermediaries/MIIs having complaints pending for more than 3 months on SCORES as on 31.10.2021  Click Here
22Scheme of Arrangement by Listed EntitiesClick Here
23Extension of timeline for submission of public comments on the consultation paper for introduction of disclosure norms for ESG Mutual Fund Schemes  Click Here
24Framework for Regulatory SandboxClick Here
25Consultation Paper on Review of certain aspects of Public issue framework under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018  Click Here
26Securities and Exchange Board of India (Intermediaries) (Third Amendment) Regulations, 2021  Click Here
27Addendum to SEBI Circular dated November 16, 2021 relating to Schemes of Arrangement by Listed Entities  Click Here
28Clarifications regarding amendment to SEBI (Alternative Investment Funds) Regulations, 2012Click Here
29Disclosure obligations of listed entities in relation to Related Party Transactions  Click Here
30Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018  Click Here

11. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

  Applicable Laws/Acts    Due Dates  Compliance Particulars  Forms / Filing mode
  Companies Act, 2013  Within 180 Days From The Date Of Incorporation Of The Company (one time compliance only)  As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.MCA E- Form INC 20A (one time compliance)    
Companies Act, 2013  First declaration within 90 days from the date of notification Dt. 08.02.2019    A person having Significant beneficial owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019   In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.  Form BEN-1 Draft Format available at LINK
Companies Act, 2013  within 30 days of acquiring beneficial interestFiling of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.  (the date of receipt of declaration in BEN-1 ) CLICK HEREForm BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019
Companies Act, 2013  Annual Compliance (30.09.2021)*DIN KYC through DIR 3 KYC Form is an Annual Exercise. Last date for filing DIR-3 KYC for Financial year 2020-21 is 30th September, 2021   Annual Exercise:CLICK HERE Penalty after due date is Rs. 5000/-(one time)  E-Form DIR – 3 KYC (Web Based and E-form)  
Companies Act, 2013Within 270 days from the date of deployment of this FormAnnual Return To Be Filed By Auditor With The National Financial Reporting Authority CLICK HERE CLICK HERE Click Here Note on NFRA -2Click HereNFRA-2 (NFRA-2 e-Form live since 9th December 2019.)
Companies Act, 2013Within 15 days of appointment of an auditor.The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act.E – Form NFRA -1
Companies Act, 2013Within 30 days of the board meetingFiling of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed.MGT-14  (Filing of resolution with MCA)
      Companies Act, 2013Within 60 (sixty) days from the conclusion of each half year.Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014 To be filed all unlisted companies, deemed public companies Till further clarification to be filled in GNL-2E-Form PAS – 6
  Companies Act, 2013(Half Yearly basis) 31.10.2021Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise, can be filed delayed without any Additional FeeE-Form MSME-1
  Companies Act, 2013One Time compliances           Registration of Entities for undertaking CSR activities       – Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021E-Form CSR-1
Companies Act, 2013within a period of 60 days after the holding of AGMIEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 Statement of unclaimed and unpaid amounts. This e-form shall be filed within a period of 60 days after the holdingof AGM or the date on which it should have been held as perthe provisions of section 96 of the Act, whichever is earlierIEPF -2
  • LLP Compliance:
  Applicable Laws/Acts    Due Dates  Compliance Particulars  Forms / Filing mode
  LLP Act, 2008  30.12.2021 (extended)Statement of Account and Solvency for Financial Year 2020-21 Within30 days from the end of 6 months of the financial year to which the statement relates.Form LLP-8    
  • Due dates of ROC Return Filings
Sl. No.  Particulars    Due Date  E- Form
  1  Appointment of AuditorWithin 15 days from the conclusion of AGM    ADT-1
      2  Filing of financial statement and other documents with the ROC31.12.2021 – due date extended for all Companies including OPC Within 30 days from the conclusion of the AGM, other than OPC (In case of OPC within 180 days from the close of the financial year)    AOC-4
  3Filing of annual return by a company.31.12.2021 – due date extended for all Companies including OPC Within 60 days from the conclusion of AGM  MGT-7
4Filing of annual return by a company.31.12.2021 – due date extended for all Companies including OPC   Within 60 days from the conclusion of AGM – Applicable in respect of Annual Return for the F.Y. 2020-21 and onwards of OPC and small companies.    MGT-7A
5.Filing of Cost Audit Report with the Central Government31.11.2021 – due date extended   Within 30 days from the receipt of Cost Audit Report  CRA-4
  • Important Updates – November, 2021
  • MCA Monthly UPdate Calendar: November, 2021
  Sl.    Particulars of the Circulars  Link
1Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013    Click Here
2Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014-reg  Click Here
3Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021.- reg  Click Here
4Ministry of Corporate Affairs and IEPFA further simplify IEPFA Claim Settlement Process towards Ease of Doing Business and Ease of Living  Click Here
5.MCA Public Notice on Disqualification of DIN’sClick Here
6.Circular seeking applications from Chartered Accountants for engagements as Professionals in NFRA on contractual basis.    Click Here
7CorrigendumClick Here
8Revamped company law compliance site by March  Click Here
9MCA plans to set up a IBC21 portal with data on bankruptcy proceedingsClick Here
10Report on the rules and regulations for cross-borderinsolvency resolution  Click Here
11Invitation of comments from public on Cross-Border Insolvency under Insolvency andBankruptcy Code, 2016  Click Here
12MCA reviews disqualification of directors of erring companies  Click Here
13Revamped company law compliance site by MarchClick Here

12. IBBI Updates {Insolvency and Bankruptcy Board of India}

  • Foreign creditors to get a foot in the IBC door

Foreign creditors and bankruptcy professionals will soon be able to approach Indian tribunals against major shareholders of defaulting Indian companies who are personal guarantors, under a cross-border bankruptcy resolution framework proposed by India.The ministry of corporate affairs has sought public comments on granting these rights to foreign creditors and bankruptcy officials. (To read more Click Here)

  • Important Notifications and Circulars Tracker (November, 2021)
Sl.  Notification(s)Link(s)
1.The Insolvency and Bankruptcy Board of India (IBBI) organises a Training of the Trainers (ToT) programme, for Insolvency Professionals.  Click Here
2.Standing committee recommendations key to IBC success: CrisilClick Here
3RBI panel for ARC participation in IBC cases, investment thresholdClick Here
4To Maximise Value of Troubled Firms, the Insolvency and Bankruptcy Code Needs More ReformsClick Here
5Report of the Working Group on Tracking Outcomes under the Insolvency and Bankruptcy Code, 2016  Click Here
  6IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (Amended upto 30.09.2021)       Click Here
  7Amendment to the IBBI (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020Click Here
8No immunity from IBC for state discoms, says CentreClick Here
9Circular – Clarification regarding requirement of seeking No Objection Certificate or No Dues Certificate from the Income Tax Department during Voluntary Liquidation Process under the Insolvency and Bankruptcy Code, 2016 (Code)    Click Here
10The Insolvency and Bankruptcy Board of India (IBBI) organises series of awareness programmes for officers Income Tax Department  Click Here
11Invitation of application for 24th Basic Workshop for IPs to be held on 29th November, 2021Click Here
12In the matter of IP RegistrationClick Here
13Mr. Sandip Garg takes charge as Executive Director, IBBI.  Click Here
14Report of the Cross Border Insolvency Rules and Regulations Committee  Click Here
15In the matter of RV RegistrationClick Here

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This article is updated till 30th November, 2021 with all Laws / Regulations and their respective amendments.                  

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Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. 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. Many sources have been considered including newspapers (ET, BS & HT etc.)