Corporate Compliance Calendar for March, 2022

ABOUT ARTICLE: 

This article contains various Compliance requirements for the Month of March, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. 

If you think compliance is expensive, try non‐ compliance” 

Compliance Requirement Under  

1. Income Tax Act, 1961  

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

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

4. Other Statutory Laws and Updates 

5. SEBI (Listing Obligations & Disclosure Requirements) (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 

13. MSME Key Updates 

1.COMPLIANCE REQUIREMENT UNDER INCOME TAX ACT, 1961 

 Sl.  Compliance Particulars  Due Dates  
1 Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194-IM,  in the month of January 2022. 02.03.2022 
2. Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month. 07.03.2022 
3 Due date for payment of  fourth installment of advance tax for FY 2021-22. 15.03.2022 
 4 Due date for payment of whole amount of advance tax in respect of FY 2021-22 for assessee covered under presumptive scheme of section 44AD / 44ADA. 15.03.2022 
      5 Due date for filing of return of income for the assessment year 2021-22 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A apply.  The due date for furnishing of return of income for Assessment Year 2021-22 has been extended to February 28, 2022, vide Circular no. 17/2021, dated 09-09-2021.  The due date for filing of return of income has been further extended to March 15, 2022 vide Circular No. 01/2022, dated 11-01-2022.      15.03.2022 
 6 Due date of furnishing of Form 24G by an office of the Government where TDS/TCS for the month of February 2022, has been paid without the production of a challan.  15.03.2022 
   7 Return of income for the assessment year 2021-22 in the case of an assessee if he/it is required to submit a report under section 92E pertaining to international or specified domestic transaction(s).  The due date for furnishing of return of income for Assessment Year 2021-22 has been extended to February 28, 2022, vide Circular no. 17/2021, dated 09-09-2021.  The due date for filing of return of income has been further extended to March 15, 2022, vide Circular No. 01/2022, dated 11-01-2022.    15.03.2022 
8 Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, and 194M in the month of February 2021. 17.03.2022 
9 Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194-IM,  in the month of February, 2022 30.03.2022 
10 Country-By-Country Report in Form No. 3CEAD for the previous year 2020-21 by a parent entity or the alternate reporting entity, resident in India, in respect of the international group of which it is a constituent of such group.  Country-By-Country Report in Form No. 3CEAD for a reporting accounting year (assuming reporting accounting year is April 1, 2020, to March 31, 2021) by a constituent entity, resident in India, in respect of the international group of which it is a constituent if the parent entity is not obliged to file report under section 286(2) or the parent entity is resident of a country with which India does not have an agreement for the exchange of the report, etc.      31.03.2022 
11 Filing of belated/revised return of income for the assessment year 2021-22 for all assessee (provided assessment has not been completed before March 31, 2021). The due date for filing of belated/revised return of income for the assessment year 2021-22 has been extended to March 31, 2022, vide Circular no. 17/2021, dated 09-09-2021. 31.03.2022 
12 “Due date for linking of Aadhaar number with PAN”  The due date for linking of Aadhaar number with PAN has been extended to March 31, 2022, vide Notification S.O. 3814(E), dated 17-9-2021. 31.03.2022 

Income Tax Due Date – Extensions 

Sl. Nature of Extension Provisions / Forms of IT Act 1961 Earlier  Due Date Extended Due Date 
1 The 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 
 2 Filing of belated/revised return of income for the assessment year 2021-22 for all assessee (provided assessment has not been completed before December 31, 2021). Belated/revised return of income for the assessment year 2021-22 31.01.2022 31.03.2022 
  • IMPORTANT NOTIFICATIONS – For the month of February – 2022: 
Sl.  Particulars of the Notification(s) File No. / Circular No. Link(s) 
1. Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to India’s DTAAs with certain countries- Reg. Circular No. 03/2022 Click Here 
2. Amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue), Number 89 of 2020 Notification No. 11/2022  Click Here 
 3. Setting up of office for operationalizing Interim Boards for Settlement- reg. F No. 189/01/ 2021 – ITA-I Click Here 
 4. – Order under section 119 of the Income-tax Act. 1961 for exercise all Dower of survey u/s 133A of the Income-tax Act. 1961 and in pursuance of The Taxation and Other Laws (Relaxation and Amendment of Certain Provisional Act. 2020 – regarding   F No. 187/03/ 2020 – ITA-I  Click Here 
 5. Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to India’s DTAAs with certain countries- Reg. Circular No. 03/2022 Click Here 
 6. Notification No. 11/2022 may be read as Notification No.12/2022. Notification No. 13/2022  Click Here 
 7 Budget 2022-2023: Speech of Nirmala Sitharaman Budget 2022-23 Click Here 

2. COMPLIANCE REQUIREMENT UNDER GST, 2017 

A. Filing of GSTR –3B 

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

Tax period Due Date No interest payable till Particulars 
February, 2022 20th March, 2022 – Due 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 period Due Date No interest payable till Particulars 
February, 2022 22nd March, 2022  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 period Due Date No interest payable till Particulars 
February, 2022 24th March, 2022   
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 

c). GST payment for the month of February 2022 under QRMP scheme. 

Tax period Due Date Particulars 
February, 2022 25th March, 2022 Due Date for Payment of Tax Liability for the taxpayer with Aggregate turnover up to INR 5 crores during previous year and who has opted for Quarterly filing of return under QRMP.  

B. Filing Form GSTR-1: 

Tax period Due Date Remarks 
Monthly return (February, 2022) 11.03.2022 “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” 

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

Form No. Compliance Particulars Timeline   Due Date  
GSTR-5 & 5A Non-resident ODIAR services provider file Monthly GST Return 20th of succeeding month  20.03.2022 
 GSTR -6 Every Input Service Distributor (ISD)  13th of succeeding month  13.03.2022 
 GSTR -7 Return for Tax Deducted at source to be filed by Tax Deductor  10th of succeeding month  10.03.2022 
 GSTR -8 E-Commerce operator registered under GST liable to TCS 10th of succeeding month 10.03.2022 

D. GSTR – 1 QRMP monthly / Quarterly return 

Form No. Compliance Particulars Timeline   Due Date  
 Details of outward supply-IFF &   Summary of outward supplies by taxpayers who have opted for the QRMP scheme. GST QRMP monthly return due date for the month of February, 2022 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.  Summary of outward supplies by taxpayers who have opted for the QRMP scheme.     13th of succeeding month – Monthly  Quarterly Return     13.03.2022 

E. GST Refund: 

Form No. Compliance Particulars Due Date   
RFD -10 Refund of Tax to Certain Persons 18 Months after the end of quarter for which refund is to be claimed 

Major Update:  

  • Attention: Window to opt in for composition for the FY 2022-23 is made available at GST Portal. The eligible taxpayers, who wish to avail the composition scheme may opt in for composition before 31st March 2022. 
  • GST UPDATES – FEBRUARY, 2022: 
Sl. Notification Particulars Notification No. Link (s) 
1.  Module wise new functionalities deployed on the GST Portal for taxpayers GSTN Circular 521 Click Here 
2. Deployment of Interest Calculator in GSTR-3B GSTN Circular 520 Click Here 
3. CGST Navi Mumbai Commissionerate busts fake ITC racket of Rs. 10.68 Crore, arrests proprietor of a steel firm Press Release ID: 1795089 Click Here 
4. CGST Bhiwandi Commissionerate arrests businessman for running fake ITC network Press Release ID: 1791828 Click Here 
5. Average monthly gross GST collection for third quarter of FY 2021-22 is Rs.1.30 lakh crore Press Release ID: 1796308 Click Here 
6 CGST Navi Mumbai Commissionerate busts fake ITC racket of Rs. 10.68 Crore, arrests proprietor of a steel firm Press Release ID: 1795089 Click Here 
7 Setup of ‘GST Refund Help Desk’ in the office of Pr. CCA, CBIC GSTN Circular : 523 Click Here 
8 Upcoming GSTR-1 enhancements & improvements GSTN Circular : 525 Click Here 
9 Seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 20 Cr from 01 st April 2022.   01/2022-Central Tax  Click Here 

3. KEY COMPLIANCES UNDER FEMA / RBI 

Applicable Laws/Acts Due Dates Compliance Particulars Forms / (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 1999 within 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 

Entities which are filing FLA return for the first time/ with revised UIN (Unique identification number) are required to register themselves first for generating login credentials and afterwards they can file FLA return. However, the entities which have already registered earlier may submit FLA-2021 using their earlier login credentials. 

  • RBI CIRCULARS / NOTIFICATIONS: FEBRUARY, 2022 
 Sl.  Particulars of the Circulars  Link 
RBI Working Paper No. 05/2022: Quantifying Survey-based Qualitative Responses on Capacity Utilisation – An Analysis for India  Click here 
RBI releases data on ECB/FCCB/RDB for December 2021 Click here 
Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract Click here 
Directions under Section 35 A read with section 56 of the Banking Regulation Act (As Applicable to Co-operative Societies), 1949 – Indian Mercantile Cooperative Bank Ltd Lucknow  Click here 
Sectoral Deployment of Bank Credit – December 2021 Click here 
Auction of Government of India Dated Securities Click here 
RBI Cautions against unauthorised forex trading platforms Click here 
Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract Click here 
Premature redemption of Sovereign Gold Bond Scheme (SGB) – Redemption Price for premature redemption due on 05.02.2022 (Series I of SGB 2016-17) Click here 
10.  Survey on International Trade in Banking Services, 2020-21 Click here 
11.  Master Circular – Asset Reconstruction Companies Click here 
12 Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 Click here 
13 Transactions in Credit Default Swap (CDS) by Foreign Portfolio Investors – Operational Instructions Click here 
14 ‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt  Click here 
15 Rupee Interest Rate Derivatives (Reserve Bank) Directions – Review Click here 
16 Cancellation of auction of Government of India Dated Securities Click here 
17 Reserve Bank of India imposes monetary penalty on M/s Pooram Finserv Pvt Limited, Thrissur, Kerala  Click here 
18 Governor’s Statement: February 10, 2022 Click here 

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)  15.03.2022  PF Payment   ECR 
ESIC (Employees’ State Insurance Act, 1948)  15.03.2022  ESIC Payment  ESI CHALLAN 
 Contract Labour (Regulation & Abolition) Act, 1970  Within 15 Days of commencement/ completion of contract work Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer Form VI-B 
 Contract Labour (Regulation & Abolition) Act, 1970  Within 15 Days of commencement/ completion of contract work Notice of commencement/ completion of contract work by the Contractor within 15 days Form VI-A 
 Payment of Gratuity Rule Within 30 Days of applicability of the Act & any change Notice of applicability of the Act & any change Form A or B 
Shops And Establishments Act  31.03.2022 Annual Return Under Shops and Establishments Act – Jharkhand Annual Return 
Maharashtra Professional Tax Act   31.03.2022 Monthly Return for February Under Maharashtra Profession Tax, Trade and Ceilings (Monthly) Profession Tax 
Maharashtra Professional Tax Act  31.03.2022 Due Date for payment and e-return filling for FY 2021-22 (Annual) Profession Tax 
  • Maharashtra Professional Tax Act update:  

“Enjoy benefit of late fee waiver. File all your pending Profession Tax returns for periods up to December 2021 without late fee by 31st March 2022 only by paying Tax and Interest.” 

  • UPDATES TRACKER UNDER LABOUR LAWS – FEBRUARY, 2022: 
Sl. Particulars Link 
Section 33(C)(2) ID Act- Labour Court Has No Jurisdiction To Adjudicate Dispute Of Entitlement Or The Basis Of Claim Of Workman: Supreme Court  Click Here 
17 states have pre-published draft rules for labour reforms Click Here 
Private Member’s Bill introduced in Rajya Sabha for the repeal of Labour Codes  Click Here 
Budget 2022: All eyes on labour codes implementation Click Here 
Updation/Correction of date of birth online in EPFO records Click Here 
Central Sector Scheme for Rehabilitation of Bonded Labourer-2021  Click Here 
Transfer policy in the Ministry of Labour and Employment.  Click Here 
Centrally Sponsored Schemes for Employment Click Here 
National Creche Schemes Click Here 
10 Identity Documents for Delivery of Services/Benefits of Schemes Click Here 
11 Scheme For Destitute Children Click Here 
12 Social Security benefit for migrant workers Click Here 
13 Details of Contractual Employees Click Here 
14 National Employment Policy Click Here 
15 Haryana case fallout: Supreme Court to examine all domicile quota laws Click Here 
16 Changes in labour rules, PLI on cards for electronics push Click Here 
17 Exclusive | Four labour codes will be implemented in 2022; welfare scheme for gig workers on the anvil: MoS Labour Rameswar Teli  Click Here 
18 EPFO members can pay LIC premium using EPF money. Details here Click Here 
19 EPF deposits: EPFO board meet in March to discuss interest rate The interest rate for 2019-20 was also same at 8.5%, which was a seven-year low. As of now, the EPFO has 6.44 crore contributing members.  Click Here 
20 e-Shram: Free COVID-19 vaccination for members; see where , how and other details Click Here 

5. SEBI – SECURITIES EXCHANGE BOARD OF INDIA 

COMPLIANCE REQUIREMENT UNDER SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (LODR) REGULATIONS, 2015 

A. 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 website Within 30 days of FR 

B. Regular / Annual Compliances:  

REG NO REGULATION NO PARTICULARS TIMELINE 
47 Advertisements in Newspapers. 47 (3) Advertisements in Newspapers Financial 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 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 website 30 days  
24A Secretarial Audit. Red 24A Every 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 Website 46(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 

C. Other Quarterly compliance which included half year compliance except FR

REG NO REGULATION NO PARTICULARS TIMELINE 
Intimation Reg 29 read with Reg 33 intimation 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 III  The 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 
Other corporate governance requirementsReg 27(2)  The listed entity shall submit a quarterly compliance report on corporate governance in the format as specified by the Board from time to time to the recognised stock exchange(s) within fifteen days from close of the quarter. 15 days   
Indian Depository Receipt holding pattern & Shareholding details. 69(1) The listed entity shall file with the stock exchange the Indian Depository Receipt holding pattern on a quarterly basis within fifteen days of end of the quarter in the format specified by the Board. 15 days from end of each quarter   

D. Event based Compliances  

REG NO REGULATION NO PARTICULARS TIMELINE 
30 Disclosure of events or information. 30(6) AND Part A of Schedule III The 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 information 24 HOURS 
30 Disclosure of events or information. 30(6) AND sub-para 4 of Para A of Part A of Schedule III The 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 / public 31A(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 voting 44(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 Newspapers The 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 auditor 24 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 
29 Reg 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 
31 Reg 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 / public Reg 31A an 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 meeting 30 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 securities 39(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 transfer 15 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 Website 46 (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 securities within 2 days 
60 Record Date 60(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 date notice 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 Particular Compliance 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.html  The 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 shares Promoter 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 Particular Compliance 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)  
   1 Schedule 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 the date of allotment within 20 days (unless otherwise specified). Within 20 days from the date of allotment  
2 Regulation 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 
3 SEBI 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.html  Application 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 
4 Regulation 76 Application for rights issue The 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 Documents In 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.  
6 Regulation 84  Advertisement Issuer 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 funds Temporary 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 Audit Within 30 days from end of quarter.  
 2.  Regulation 74 (5): Processing of demat requests form by Issuer/RTAs – Certificate Received from Registrar Within 15 days from the end of each quarter. 

SEBI Circulars Tracker: February, 2022 

Sl. Particulars Link 
1. Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2022 Click Here 
2. Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022  Click Here 
3. Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 [Last amended on January 25, 2022]  Click Here 
4. SEBI Bulletin – January 2022 [MSWord]   [MSExcel]  Click Here 
5. Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 [Last amended on January 25, 2022]  Click Here 
6. Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 [Last amended on January 25, 2022]  Click Here 
7. “SEBI Order for Compliance” – Prohibitory Order No. 214 of 2022: In the matter of Vee Realties India Ltd. : Recovery Certificate No. 997 of 2016  Click Here 
8. Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022 Click Here 
9.  Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011 [Last amended on January 28, 2022] Click Here 
10.  Change in control of the asset management company involving scheme of arrangement under Companies Act, 2013 Click Here 
11.  Extension of timeline for comments on Consultation paper for Review of SEBI (Collective Investment Schemes) Regulations, 1999 Click Here 
12.  Schemes of Arrangement by Listed Entities Click Here 
13. Circular on Guidelines on Accounting with respect to Indian Accounting Standards (IND AS) Click Here 
14.  Informal Guidance sought by HDFC Securities Limited regarding Securities Contracts (Regulations) Rules, 1957  Click Here 
15.  Trading features pertaining to the Electronic Gold Receipts (EGR) segment Click Here 
16.  Standard Operating Guidelines for the Vault Managers and Depositories – Electronic Gold Receipts (EGR) segment  Click Here 
17 Union Finance Minister addresses Board Members of SEBI Click Here 
18 SEBI Board Meeting Click Here 
19 Corrigendum to Master Circular for Depositories dated February 05, 2021 on Opening of demat account in case of HUF  Click Here 
20 Consultation Paper on Disclosures for ‘Basis of Issue Price’ section in offer document under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018  Click Here 
21 Framework for conversion of Private Listed InvIT into Public InvIT Click Here 
22 Conversion of Private Unlisted InvIT into Private Listed InvIT Click Here 
23 Circular on Audit Committee of Asset Management Companies (AMCs)  Click Here 
24 Informal Guidance sought by Genus Power Infrastructures Limited with respect to Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014  Click Here 
25 Segregation and Monitoring of Collateral at Client Level – Extension of timeline Click Here 
26 Nomination for Eligible Trading and Demat Accounts – Extension of timelines and relaxations for existing account holders Click Here 
27 Consultation paper for allowing FPIs to participate in Commodity Derivatives market Click Here 
28 Approach to securities market data access and terms of usage of data provided by data sources in Indian securities market Click Here 
29 Swing pricing framework for mutual fund schemes – Extension of timeline Click Here 
30 Extension to SEBI Circular on “Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19” dated April 13, 2020 Click Here 
31 Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 [Last amended on February 23, 2022] Click Here 
32 Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 [Last amended on February 23, 2022] 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 interest Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.  (the date of receipt of declaration in BEN-1 ) CLICK HERE Form 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, 2013 Within 270 days from the date of deployment of this Form Annual Return To Be Filed By Auditor With The National Financial Reporting Authority CLICK HERE CLICK HERE Click Here Note on NFRA -2 Click Here NFRA-2 (NFRA-2 e-Form live since 9th December 2019.) 
Companies Act, 2013 Within 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, 2013 Within 30 days of the board meeting Filing 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, 2013 Within 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-2 E-Form PAS – 6  
 Companies Act, 2013 (Half Yearly basis) 31.10.2021 Form 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 Fee E-Form MSME-1 
 Companies Act, 2013 One 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 2021 E-Form CSR-1 
Companies Act, 2013 within a period of 60 days after the holding of AGM  IEPF 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 holding of AGM or the date on which it should have been held as per the provisions of section 96 of the Act, whichever is earlier IEPF -2 

Due dates of ROC Return Filings 

Sl. No.  Particulars   Due Date  E- Form 
 1  Appointment of Auditor Within 15 days from the conclusion of AGM   ADT-1 
   2  Filing of financial statement and other documents with the ROC 15.03.2022 – 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, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL 
 3 Filing of annual return by a company. 31.03.2022 – due date extended for all Companies including OPC Within 60 days from the conclusion of AGM  MGT-7 
Filing of annual return by a company. 31.03.2022 – 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 
  • KEY UPDATES – February, 2022:  

1. What you need to know about the MCA’s mandatory Form CSR-2 

The government had mandated that Corporate India publish a comprehensive report on their specific CSR initiatives. With the new 11-page form notified by the MCA on February 11, 2022, companies will have to provide the details of the CSR amount spent in the three preceding financial years and details of all ongoing projects.  

This additional information can be used by the corporate affairs ministry in drafting effective policies for CSR. Companies will have to file the new Form CSR-2 for the preceding financial year (2020-21), on or before March 31, 2022. This is in addition to the Form AOC-4 for filing the company’s financial statement with the Registrar of Companies. These disclosures are also part of the annual report on CSR the MCA had mandated companies to file. This form will have to be submitted to the Registrar of Companies for the preceding financial year (2020-21) and onwards, the Ministry of Corporate Affairs (MCA) has said. 

Form CSR-2, amongst other things, requires certain companies to report on matters such as the constitution of its CSR committee, its meetings, whether or not the company has disclosed on its website details about its CSR committee, CSR policy, and approved CSR projects. Also, the company is required to confirm whether an impact assessment of CSR projects has been carried out in pursuance of the Companies (CSR Policy) Rules, 2014. Under the report, the company is also required to submit detailed information around its investment in CSR Projects and the quantum of funds that has remained unspent. 

Companies will have to provide the following in Form CSR-2: 

  • The details of the CSR amount spent in the three preceding financial years and details of all ongoing projects. 
  • Details of CSR Committee 
  • Details of CSR disclosed on the website of the company in pursuance of Rule 9 of Companies (CSR Policy) Rules, 2014 
  • Net Profit & other details of the company for the preceding financial years 
  • If any capital assets have been created or acquired through CSR spending, companies will have to provide details, including the address, location, pin code of the property, along with the amount spent and its registered owner. 
  • Important Updates –  February, 2022 
 Sl.   Particulars of the Circulars  Link 
1 Relaxation on levy of additional fees is given till 15.03.2022 for filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and 31.03.2022 for MGT-7/MGT-7A for the financial year ended on 31.03.2021.  To avoid any last-minute payment transaction issues, Stakeholders may avail ‘Pay Later option’ for form filings and save the challan which gets generated on the screen for future reference    Click Here 
2 Keeping in view of proposed launch of LLP Modules in MCA21 V3, please take note that LLP e-Filings will not be available from 25th Feb 2022, 12:00 AM till 05th Mar 2022, 11:59 PM  Click Here 
3 FAQs – MCA V3 5th March Go Click Here 
4 All the stakeholders are hereby informed that:  the Registrar of Companies and the Regional Directors of the Ministry of Corporate Affairs at all locations have been directed by the Ministry to enter all cases of complaints against the Companies and the LLPs, Inspections, Inquiries, Investigations and Prosecutions in the MCA Electronic registry i.e., MCA21 before issuing any letter, notice, order etc. Thereafter, a Service Request Number (SRN) is generated.  They have also been directed to mention such SRN mandatorily in all such communications to Companies, LLPs, their officers, auditors, etc., on all communications.  Therefore, all stakeholders are advised to treat any such communication received without SRN as unauthorised which need not be responded further.  Any instance of such communication received without mentioning SRN may be brought to the notice of the Office of the Director General of Corporate Officer (DGCoA) at email dgcoa@mca.gov.in along with the copy of communication        Click Here 
5.  Dissolution Notice of M/s Kanwal Financiers Pvt. Ltd (in liquidation) Click Here 
6.  Keeping in view of proposed launch of LLP Modules in MCA21 V3, please take note that LLP e-Filings will not be available from 25th Feb 2022, 12:00 AM till 05th Mar 2022, 11:59 PM  Click Here 
7 The Limited Liability Partnership (Amendment) Rules, 2022 Click Here 
8 Form CSR-2 (Report on Corporate Social Responsibility) notified vide Companies (Accounts) Amendment Rules, 2022 dated 11th February 2022 is available for filing purposes now under MCA Services -Company services-CSR-2  Click Here 
9 Companies (Accounts) Amendment Rules, 2022-reg. Click Here 
10 The Companies (Registration Offices and Fees) Amendment Rules, 2022 Click Here 
11 Provisions of second and third proviso to clause (i) of section 80 the Companies (Amendment) Act, 2017 Applicable w.e.f. 01.07.2022  Click Here 
12 Provisions of section 56 the Companies (Amendment) Act, 2020, Applicable w.e.f. 01.07.2022  Click Here 
13 MIGRATION OF FOREIGN COMPANIES TO INDIA Click Here 
14 Important Communication for LLPs:  1. In our continuous endeavor to serve you better, the Ministry of Corporate Affairs is launching a new way of e-filing for LLP on MCA21 portal.   2. All LLP filings going forward will be web based. This application is proposed to be launched on 06th Mar 2022 at 12:00 AM.  3. To facilitate this implementation stakeholders are advised to plan as per the following:   LLP e-Filings on MCA21 portal will be disabled from 25th Feb 2022 12:00 AM. All stakeholders are advised to ensure that there are no SRNs in pending payment status.   Offline payments for LLP using Bank Challan and Pay later option would be stopped from 19th Feb 2022 12:00 AM. Please note that during 19th Feb 2022 12:00 AM to 25th Feb 2022 12:00 AM, payments for LLP will be accepted only through online mode (Credit/Debit Card and Net Banking).   DSC association and new user registration on MCA21 portal will be stopped on 25th Feb 2022 12:00 AM. These services will resume in new application with LLP launch. d. Please note that there will not any interruption in filling of Company forms.     Click Here 

12. IBBI UPDATES {INSOLVENCY AND BANKRUPTCY BOARD OF INDIA} 

  • Important Notifications and Circulars Tracker (February, 2022) 
Sl.  Notification(s) Link(s) 
1. Invitation of Public comments: Discussion Paper – Voluntary Liquidation Process Feb 2022  Click here 
2. International Conference on “MSMEs: Legislative and Regulatory Challenges” on 3rd February, 2022  Click here 
3   Insolvency and Bankruptcy Board of India organizes International Conference (Virtual Mode) on “MSMEs: Legislative and Regulatory Challenges”, in association with UNCITRAL RCAP, Gujarat National Law University and Tamil Nadu National Law University.   Click here 
4 Appointment of Dr. Anuradha Guru as Ex-officio member in the Insolvency and Bankruptcy Board of India. Click here 
5 Release of publication “Frequently Asked Questions (FAQs) on Insolvency and Bankruptcy Code, 2016”.  Click here 
 6 Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016   Click here 
7 IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022  Click here 
8 Invitation of application for 15th Advanced Workshop for Insolvency Professionals, in Virtual Mode, on Analysis of Financial Statements of CDs and their Personal Guarantors  Click here 
9 Shri Ravi Mital takes charge as Chairperson of Insolvency and Bankruptcy Board of India  Click here 
10 In the matter of Mr. Anil Goel, Insolvency Professional (IP) under Section 220 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016 and Regulation 13 of the IBBI (Inspection and Investigation) Regulations, 2017.   Click here 
11 Webinar on Engagement of Professionals during CIRP on Wednesday, 16th Feb, 2022, from 15.30 to 17.00 hrs Click here 
12 In the matter of Mr. Mahesh Chand Agrawal, Registered Valuer (RV) under Rule 15 and 17 of the Companies (Registered Valuers & Valuation) Rules, 2017  Click here 
13 Live Session on “IBC Ecosystem: Milestones Achieved” on Gyandarshan TV Channel  Click here 
14 The Insolvency and Bankruptcy Board of India (IBBI) organises a Webinar on “Engagement of Professionals during CIRP”.   Click here 
15 Amend IBC keeping India’s unique needs in mind  Click here 
16 Court Of Additional Sessions Judge Not Empowered To Try Offences Under IBC: Bombay High Court  Click here 
17 In the matter of Ms. Esther Rani Jakkula, Registered Valuer Click here 
18 Extension of last date for submission of application for the post of Assistant Manager (AM) in IBBI on deputation basis  Click here 
19 Invitation for One Day Workshop on “Committee of Creditors: An Institution of Public Faith”  Click here 

13. MSME (Ministry of Micro, Small and Medium Enterprises) 

MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. 

MSME – Merged Criteria: Investment and Annual Turnover 

Revised Classification applicable w.e.f 1st July 2020 

Classification Micro Enterprise Small Enterprise Medium Enterprise 
Manufacturing Enterprises and Enterprises rendering Services Investment in Plant and Machinery or Equipment: 
Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore 
Investment in Plant and Machinery or Equipment: 
Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore 
Investment in Plant and Machinery or Equipment: 
Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore 
  • Key Updates – for the month of February – 2022 
Sl. Particulars Link 
1 Special provision of lower fee is kept to encourage MSMEs Click here 
2 MICRO ENTREPRENEURS IN RURAL AREAS Click here 
3 API Manufacturers Click here 
4 EXPANSION OF MSME SECTOR Click here 
5 FINANCIAL ASSISTANCE TO MSMEs DURING COVID Click here 
6 Prime Minister’s Employment Generation Programme (PMEGP) Click here 
7 Aatma Nirbhar Bharat Package for Micro Enterprises Click here 
8 Women MSMEs Entrepreneurs Click here 
9 MSMES CLUSTERS DEVELOPMENT PROGRAMME Click here 
10 Assistance to MSMEs sector Click here 
11 Achievements of NSIC Click here 
12 SUPPORT TO SMALL BUSINESSES Click here 
13 IMPACT OF COVID-19 ON SMALL BUSINESSES Click here 
14 Success Story: Pmegp Scheme Provides Impetus to Enterprise Click here 
15 AWARENESS EVENT ON MSME CLUSTER Click here 
16 Draft National MSME Policy: Govt Proposes Tech Upgradation And Eight Other Action Areas For MSMEs Click here 
17 RBI’s new deadline to comply with NPA norms will give respite to NBFCs into MSME lending: Experts Click here 
18 67% MSMEs were temporarily shut, profits dipped for 66% in FY21: SIDBI survey Click here 
19 Union MSME Minister Narayan Rane launches Union Bank MSME RuPay Credit Card Click here 
20 RS 200 CRORE MSME TECHNOLOGY CENTRE TO BE SET UP IN SINDHUDURG Click here 

This article is updated till 28th February, 2022 with all Laws / Regulations and their respective amendments

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.)

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