Newsletter Contents: SEBI UPDATES, MCA UPDATES, RBI UPDATES, IBC UPDATES, LABOUR LAW UPDATES, PRESS INFORMATION, IPO & INVESTMENT, IRDAI UPDATES, DEPARTMENT OF TELECOMMUNICATIONS, MSME UPDATES, COMPETITION COMMISSSION OF INDIA, CURRENT AFFAIRS- FAQ’s
SEBI Updates
| [Sl. | Particulars | Link |
| 1 | Review of provisions pertaining to specifications related to International Securities Identification Number (ISIN) for debt securities issued on private placement basis – Modification to Chapter VIII of Operational Circular dated August 10, 2021 | Click here |
| 2 | Shri B. Rajendran takes charge as Executive Director, SEBI | Click here |
| 3 | Amendment to notification No. SEBI/LAD-NRO/GN/2022/67 | Click Here |
| 4 | “SEBI Order for Compliance” – Demand Notice for RC No. 5789 of 2022 against Mr. Ramnaresh Saket (PAN: CIMPS8022E), Mr. Ramadhar Choudhary (PAN: AMWPC8208N) and Mr. Satish Kumar Arya (PAN: AREPA2954N) in the matter of M/s HNC Infrastructures & Shares India Ltd | Click Here |
| 5 | Consultation Paper on Cloud Framework | Click Here |
| 6. | Master Circular on the redressal of investor grievances through the SEBI Complaints Redress System (SCORES) platform | Click Here |
| 7. | Master Circular on issuance of No Objection Certificate (NOC) for release of 1% of Issue Amount | Click Here |
| 8. | Final Order in the matter of Shri Ajay Singh Ranawat, proprietor of Capital Raise and Research | Click Here |
| 9. | Strengthening Governance of Market Infrastructure Institutions | Click Here |
| 10. | Committee on “Strengthening Governance of Market Infrastructure Institutions” submits report; SEBI seeks public comments on the Report | Click Here |
| 11. | Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2022 | Click Here |
| 12 | Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2022 | Click Here |
| 13 | Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 [Last amended on November 9, 2022] | Click Here |
| 14 | Framework for protection of interest of public equity shareholders in case of listed companies undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) | Click Here |
| 15 | Applicability of GST on fees remitted to SEBI – Revision in Chapter – XX of Operational Circular Operational Circular dated August 10, 2021 | Click Here |
| 16 | Handling of Clients’ Securities by Trading Members(TM) / Clearing Members (CM) | Click Here |
| 17 | Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2022 | Click Here |
| 18. | Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2022 | Click Here |
| 19. | Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2022 | Click Here |
| 20 | Order In the matter of Unregistered Investment Advisor Services of The J.S.R. A Global Research Center Proprietor Mr. Raghunandan Tak | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | Stakeholders are informed that total LLP filings from 1st April 2022 to 11 Nov is 4.10 Lac as against 3.20 Lac from 1st April 2021 to 11 Nov 2021. | Click Here |
| 2 | Form-8 filings have exceeded filing for the corresponding period for the year 2021. | Click Here |
| 3 | CLARIFICATION: Amendment to Schedule III to the Companies Act, 2013 vide MCA Notification GSR. 207(E) dated 24th March 2021 mandates companies to round off the figures appearing in the Financial Statements depending upon their total income. However, if the companies provide absolute figures in e-forms ie. AOC-4, the same shall not be treated as incorrect certification by the Professionals. | Click Here |
| 4 | Public Notice U/s. 75 of LLP Act, 2008 read with Rule 37(2) of the LLP Rules, 2009 | Click Here |
| 5 | Dissolution Notice of M/s Century Proteins Ltd (in liqn.) | Click Here |
3. RBI Updates
| Sl. | Particulars | Link |
| 1 | Designation of 10 individuals as ‘Terrorists’ under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act- Reg. | Click Here |
| 2 | Eligibility Criteria for offering Internet Banking Facility by Regional Rural Banks, 2022 | Click here |
| 3 | RBI launches the November 2022 round of Consumer Confidence Survey | Click Here |
| 4 | Cancellation of licence to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act, 1949 – Rupee Co-operative Bank Ltd., Pune | Click Here |
| 5. | Meeting of the Monetary Policy Committee, November 3, 2022 | Click Here |
| 6. | RBI announces rate of interest on Government of India Floating Rate Bond 2024 | Click Here |
| 7. | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click Here |
| 8. | 39th Half Yearly Report on Management of Foreign Exchange Reserves: April-September, 2022 | Click Here |
| 9. | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on November 05, 2022 (November 06, 2022 being a Sunday) (SGB 2017-18 Series VI) | Click Here |
| 10. | Auction of Government of India Dated Securities | Click Here |
| 11 | RBI releases data on ECB/FCCB/RDB for September 2022 | Click Here |
| 12 | Report on Municipal Finances | Click Here |
| 13 | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on November 17, 2022 (SGB 2016-17 Series III) | Click Here |
4. IBC Updates
| Sl. | Particulars | Link |
| 1 | IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2022 | Click Here |
| 2 | Amendment to the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 | Click Here |
| 3 | In the matter of Mr. Sanjeev Ahuja, Insolvency Professional | Click Here |
| 4 | Circular-Annual Compliance Certificate for Insolvency Professional Agencies | Click Here |
| 5 | In the matter of Mr. Prateek Kathuria, Insolvency Professional | Click Here |
| 6 | Circular – Review of Regulations | Click Here |
| 7 | In the matter of Ms. Sonu Jain, Insolvency Professional | Click Here |
| 8 | Quarterly Newsletter For Jul-Sep, 2022 | Click Here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | Indian businesses must brace for EU sustainability push | Click here |
| 2 | Gratuity After One Year of Service For Contract Workers? Details Here | Click here |
| 3 | Who is eligible for higher EPS pension under EPF scheme, last date to claim: Supreme Court clarifies | Click here |
| 4 | Eligibility for higher EPS pension under EPF scheme: All you need to know | Click here |
| 5 | EPFO begins crediting interest: Know step-by-step guide to check your balance in PF accounts | [ Click here |
6. Press information
| Sl. | Particulars | Link |
| 1 | A significant step taken to upgrade laboratory capacity for Quality Control of Traditional/Herbal Products in South East Asia Region | Click here |
| 2 | Special Swachhta Abhiyan 2.0 was organized in the M/o Food Processing Industries from 2nd to 31st October, 2022 as per instructions of D/o Administrative Reforms and Public Grievances | Click here |
| 3 | India’s agricultural and processed food products export up by 25% to USD 13771 million in Q2 of the current fiscal (2022-23) compared to the same period last year | Click here |
| 4 | India Post Payments Bank conducts India’s First Floating Financial Literacy Camp | Click here |
| 5 | Opportunities for Co-branding of Products of Women SHGs and Patanjali to be explored | Click Here |
| 6 | NHAI starts accepting electronic bank guarantees | Click Here |
| 7 | Indian Army Registers ‘Intellectual Property Rights (IPR)’ of the New Design and Camouflage Pattern Uniform | Click Here |
| 8 | 768 entities have registered on Indian Railway Innovation Portal to participate in Innovation Challenges | Click Here |
| 9 | MoD extends pro-rata pension benefits to JCOs/ORs with 10 years of service & who join PSUs | Click Here |
| 10 | Scheme for Financial Support for Project Development Expenses of PPP Projects – ‘IIPDF Scheme’ (India Infrastructure Project Development Fund Scheme) Notified on 03.11.2022 | Click Here |
| 11 | New technique for efficient fabrication of liquid crystal display devices with lowered cost | Click Here |
| 12 | Encourage startups and young scientists in the niche areas like Technical Textiles: Union Minister Piyush Goyal | Click Here |
| 13 | Central Consumer Protection Authority passes Order against Cloudtail for selling domestic pressure cookers in violation of mandatory BIS standards | Click Here |
| 14 | Sale of Electoral Bonds at Authorised Branches of State Bank of India (SBI) | Click Here |
| 15 | MNRE notifies National Bio Energy Programme | Click Here |
| 16 | Centre allows International Trade Settlements in Indian Rupees for Export Promotion Schemes under the Foreign Trade Policy | Click Here |
| 17 | Report of Expert Committee on SVAMITVA Scheme released | Click Here |
| 18 | Regarding document update in Aadhaar | Click Here |
| 19 | DigiLocker users can now digitally store health records and link them with Ayushman Bharat Health Account (ABHA) | Click Here |
| 20 | NFRA introduces audit quality inspections | Click Here |
7. IPO & investment Section
| Issuer Company | Exchange | Open | Close | Lot Size | Issue Price (Rs) | Issue Size (Rs Cr) |
| Keystone Realtors Limited IPO | BSE, NSE | Nov 14, 2022 | Nov 16, 2022 | 27 | 514.00 to 541.00 | 635.00 |
| Inox Green Energy Services Limited IPO | BSE, NSE | Nov 11, 2022 | Nov 15, 2022 | 230 | 61.00 to 65.00 | 740.00 |
| Kaynes Technology India Ltd IPO | BSE, NSE | Nov 10, 2022 | Nov 14, 2022 | 25 | 559.00 to 587.00 | 857.82 |
Key Updates in Brief
1. Spoilt for choice? Where to bet as 4 IPOs run simultaneously
As bulls returned to Dalal Street, action in the primary market also gathered pace, with four initial public offers (IPOs) running simultaneously. These four IPOs – Five Star Business Finance, Archean Chemical, Kaynes Technology and Inox Green – looking to raise Rs 5,000 crore cumulatively have left investors in a fix about which ones to pick. Apart from Archean Chemical, which closes for subscription today, no other IPO had managed to even cross the halfway mark at the time of writing this report.
According to Astha Jain of Hem Securities, if an investor has limited funds, then both Kaynes Tech and Archean Chemical look like lucrative bets.
Most brokerages have suggested a subscribe rating on both Kaynes Tech and Archean Chemical, while a few have flagged their premium valuations. If one has surplus funds, then they can bet on Inox Green, but here the horizon should be long-term, and investors, especially those with high-risk appetite, can look to invest, Jain said.
- To read more: Click Here
2. Tata Play primed to be 1st Indian co to file confidential filing with Sebi for IPO
Tata Play (formerly Tata Sky) is set to become one of the first Indian companies – if not the first – to file a confidential pre-filing of offer documents for initial public offering (IPO), possibly in the next fortnight, multiple people said.
Stock market regulator Sebi is expected to issue guidelines on confidential IPO pre-filing – allowing pre-filing sans public announcement to help safeguard sensitive business information of issuers – in the next 7-10 days, legal experts aware of the development said.
The Securities and Exchanges Board of India (Sebi) has been looking to allow such filings and was to discuss the matter in its board meeting on September 30, they said.
- To read more: Click Here
3. Muthoot Pappachan Group plans Rs 1,800-cr IPO for MFI arm
Mumbai, Muthoot Microfin, the microfinance arm of the Muthoot Pappachan Group, is planning to tap the capital markets with an initial share sale offer of Rs 1,500-1,800 crore by the last quarter of 2023. Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan Group.
This is the third largest MFI with a client base of 2.2 million across 18 states and served by its 1,008 branches. As of September 2022, the company had an active loan book of Rs 7,500 crore. We are planning a Rs 1,500-1,800-crore IPO by the fourth quarter of 2023 and expected to file the IPO papers with the Sebi by May 2023, Thomas Muthoot, managing director of Muthoot Microfin, told PTI on Wednesday from Kochi.
At Rs 1,500-1,800 crore, our IPO will be the largest from the MFI segment, Muthoot said, adding that Muthoot Microfin will also be the first MFI to cross the Rs 10,000-crore AUM mark by the time of listing.
Muthoot Fincorp and the Muthoot family own a 71 per cent stake in Muthoot Microfin. Besides, London-based private equity firm GPC holds 16.6 per cent and Chicago-based private equity fund Creation owns 9.3 per cent, he added. To read more: Click Here
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | List of valid Web Aggregators as on 04.11.2022 | Click here |
| 2 | Business Figures – Life (Segment Wise) | Click here |
| 3 | Data for calculation of Motor TP Obligation | Click Here |
| 4 | Technical shortlisting of bidders – Valuation RFP | Click Here |
| 5 | Irdai boss signals faster regulatory reforms to boost insurance penetration | Click Here |
| 6 | Go Digit: Irdai no to Fairfax proposal for CCPS conversion | Click Here |
| 7 | IRDAI’s proposals may limit setting-up of new insurance companies; here’s how | Click Here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | TRAI extends time to receive comments on ‘Draft Telecommunication (Broadcasting and Cable) Services Interconnection (Addressable Systems) (Fourth Amendment) Regulations 2022’ | Click Here |
| 2 | Amendment in scope of IP-I registration | Click here |
| 3 | Licensing Finance Assessment | Click here |
10. msme updates
| Sl. | Particulars | Link |
| 1 | MSDE Concludes Special Campaign 2.0 | Click here |
| 2 | How India’s MSME landscape can be better equipped to transition to a greener future | Click Here |
| 3 | What does cash flow-based lending mean for the future of underwriting credit for MSMEs | Click Here |
| 4 | Tamil Nadu: Power tariff cut for micro, small & medium industries | Click Here |
| 5 | MSMEs hold the key to $5-trn economy | Click Here |
11. Competition Commission of India
| Sl. | Particulars | Link |
| 1 | CCI needs an update to ensure fair play in digital economy, say experts | Click here |
| 2 | Constantly Updating Toolkit To Address Digital Market Challenges: CCI Chief | Click here |
| 3 | Google pauses Play Store billing in India after CCI ruling | Click here |
12. Cabinet decisions / new acts
| Sl. | Particulars | Link |
| 1 | Cabinet approves Nutrient Based Subsidy rates for Phosphatic and Potassic fertilizers for Rabi season 2022-23 from 1st October, 2022 to 31st March, 2023 | Click here |
| 2 | Cabinet approves signing of a Memorandum of Understanding between India and Denmark on cooperation in the field of Water Resources Development and Management | Click here |
| 3 | Cabinet approves Mechanism for procurement of ethanol by Public Sector Oil Marketing Companies (OMCs) under Ethanol Blended Petrol (EBP) Programme – Revision of ethanol price for supply to Public Sector OMCs for Ethanol Supply Year (ESY) 2022-23 | Click here |
| 4 | Cabinet approves Nutrient Based Subsidy rates for Phosphatic and Potassic fertilizers for Rabi season 2022-23 from 1st October, 2022 to 31st March, 2023 | Click here |
| 5 | Cabinet Approves “Guidelines for Uplinking and Downlinking of Satellite Television Channels in India, 2022” | Click here |
13. Current Affairs (taken from various sources)
| Sl. | Questions | Answers | |
| 1 | ‘Indian Biological Data Center’ (IBDC) has been inaugurated in which state? | Haryana | |
| 2 | As per the Amendment in Aadhar Rules, supporting documents need to be updated once in how many years? | 10 | |
| 3 | Bihari Puraskar, which was seen in the news, is associated with which field? | Literature | |
| 4 | Which Indian state observed 10th November 2022 as ‘Millet Day’? | Odisha | |
| 5 | Which city is the host of ‘PM Gati Shakti Multimodal Waterways Summit’? | Varanasi | |
| 6 | ‘Atal New India Challenge (ANIC)’ is an initiative of which institution? | NITI Aayog | |
| 7 | Which country is the host of the 27th Conference of the Parties (COP) to the UNFCCC? | Egypt | |
| 8 | As per the recent data, the mutual fund penetration is the maximum in which state? | Maharashtra | |
| 9 | ‘National Florence Nightingale Awards’ are awarded in recognition for meritorious services rendered in which field? | Nursing | |
| 10 | ‘Janjatiya Gaurav Diwas’ is observed on the birth anniversary of which leader? | Birsa Munda |
Top 7 Current Affairs:
- The US Embassy and Treasury selected the municipal bond issued by the Vadodara Municipal Corporation for a case study on successful listing. It also cited the bond as a benchmark for other civic bodies who are set to enter stock exchanges. US Embassy launched a book titled ‘All About Municipal Bond’ in New Delhi and VMC’s case study is a part of the book. VMC listed a five-year Rs 100 crore bond at the Bombay Stock Exchange (BSE).
- The Department of Drinking Water & Sanitation (DDWS), Ministry of Jal Shakti held Technical Session on ‘Rural WASH Partnerships – the way forward’ on the second day of the 7th India Water Week.
- World Tsunami Awareness Day is observed every year on November 5 to raise awareness about the natural disaster. World Tsunami Awareness Day was first suggested by Japan and in December 2015, the UN General Assembly (UNGA) declared November 5 as World Tsunami Awareness Day.
- ‘Permacrisis’, a term that describes ‘an extended period of instability and insecurity’, has been named Word of the Year 2022 by Collins dictionary. The word relates to the challenges posed by climate change, the war in Europe, a cost-of-living crisis and political chaos.
- SpaceX launched its Falcon Heavy rocket, sending several U.S. military satellites into orbit. This is the most powerful launched ever from the Earth. This was SpaceX’s 50th launch of 2022 as SpaceX’s workhorse Falcon 9 rocket has launched 49 missions so far this year. The present pace of the space company is a launch every 6.10 days.
- The United Nations General Assembly observes 2 November as the ‘International Day to End Impunity for Crimes against Journalists’ (IDEI), since 2013.
- The Cabinet Committee on Economic Affairs (CCEA) approved nutrient-based subsidy (NBS) rates for P&K fertilisers for the 2022-23 rabi season. The government approved a subsidy of Rs 51,875 crore for phosphatic and potassic (P&K) fertilisers for the second half of 2022-23.
Disclaimer: This write – up is prepared as a Knowledge Sharing Initiative. *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.
