- SEBI Updates:
| [Sl. | Particulars | Link |
| 1 | Extension of timeline for submission of public comments on the consultation paper on Regulatory Framework for ESG Rating Providers (ERPs) in Securities Market | Click Here |
| 2 | Linking of PAN with Aadhaar to be done by March 31, 2023 | Click Here |
| 3 | Operational Guidance – Amendment to SEBI (Buy-back of Securities) Regulations, 2018 | Click Here |
| 4 | Securities and Exchange Board of India (Grant of Reward to Informant under Recovery Proceedings) Guidelines, 2023 [List of matters where information can be provided] | Click Here |
| 5 | Extension of timeline for submission of public comments on the Consultation Paper on Holding of Sponsor in REITs and InvITs | Click Here |
| 6 | Clarification with respect to Qualified RTAs | Click Here |
| 7 | Informal Guidance sought by Muthoot Health Care Private Limited regarding eligibility criteria for Issue and listing of structured debt securities/ market linked debt securities | Click Here |
| 8 | SEBI Bulletin – February 2023 [MSWord] [MSExcel] | Click Here |
| 9 | Gazette notification – AMC Repo Clearing Limited | Click Here |
| 10 | Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2023 | Click Here |
| 11 | Updates for Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendment in 102 entries | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | DSC ASSOCIATION FAQ | Click Here |
| 2 | All Members of ICSI & ICAI (registered in Professional category at MCA) are requested to add Membership Type ( viz Associate or Fellow) in their profile. This functionality is also applicable to the users who had associated their Professional Membership Numbers with their ID in past on MCA portal. | Click Here |
| 3 | Centre for Processing Accelerated Corporate Exit | Click Here |
3. RBI / Banks Updates
| Sl. | Particulars | Link |
| 1 | Reporting and Accounting of Central Government transactions for March 2023 | Click here |
| 2 | Implementation of Section 51A of UAPA,1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendments to 102 entries | Click here |
| 3 | Reserve Bank of India and Central Bank of the UAE sign MoU to promote innovation in financial products and services | Click here |
| 4 | Overseas Direct Investment for February 2023 | Click here |
| 5 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 6 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
4. IBC / Insolvency Law updates
| Sl. | Particulars | Link |
| 1 | In the matter of Mr. Vineet Aggarwal, IP | Click here |
| 2 | Liquidation Processes Ending with Order of Dissolution/Closure: As on 31st December, 2022 | Click here |
| 3 | Corrigendum – Notice for filling up one post of Executive Director in IBBI on deputation basis | Click here |
| 4 | Corrigendum – Notice for filling up two posts of AGMs in IBBI on deputation basis | Click here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | A new deal to protect India’s gig workers? | Click here |
| 2 | Indian state Kartanaka passes flexible labour law to match China’s | Click here |
| 3 | New labour law in Karnataka, promoted by Apple and Foxconn, allows 12-hour shifts, night-time work for women: Report | Click here |
| 4 | EPF Interest Credited Into Your Account? Here Are 4 Ways To Check Pf Balance | Click here |
| 5 | Kerala High Court issues notice to Centre, PF Commissioner on plea against proof for higher contribution | Click here |
6. Key Press information
| Sl. | Particulars | Link |
| 1 | Stage-I of GRAP revoked as overall AQI of Delhi improves significantly | Click here |
| 2 | Central Government launches High Price Day Ahead Market and Surplus Power Portal (PUShP) | Click here |
| 3 | Extended Producer Responsibility guidelines to strengthen circular economy and aid in development of recycling infrastructure for plastic packaging waste | Click here |
| 4 | CBDT’s e-Verification Scheme harnesses information technology to facilitate voluntary compliance | Click here |
| 5 | e-SHRAM portal envisages registration of all unorganised sector workers to create a comprehensive database of unorganised workers | Click here |
| 6 | Assistance to Pharma Industries for Common Facilities Scheme with outlay of Rs. 500 crores | Click here |
| 7 | IREDA gets ‘Infrastructure Finance Company’ status from RBI | Click here |
| 8 | BIS Launches ‘Learning Science via Standards’ Series | Click here |
| 9 | Major steps initiated by Government of India for the expansion of aquaculture across the country | Click here |
| 10 | PLI Scheme in Food Processing Sector | Click here |
7. IPO & investment Section
| Issuer Company | Exchange | Open | Close | Issue Price (Rs) | Issue Size (Rs Cr) |
| Udayshivakumar Infra Limited IPO | BSE NME | Mar 20, 2023 | Mar 23, 2023 | 33.00 to 35.00 | 66.00 |
| Dev Labtech Venture Limited IPO | BSE, SME | Mar 17, 2023 | Mar 21, 2023 | 51.00 | 11.22 |
| Command Polymers Limited IPO | BSE SME | Mar 17, 2023 | Mar 21, 2023 | 28.00 | 7.09 |
(Source: Chittorgarh.com)
- Key Updates in Brief {Source- ET, BS etc.}
1. Sebi takes stricter approach in IPO clearance; returns draft paper of 6 cos
After the Paytm’s IPO fiasco, Sebi has turned cautious while giving clearance to the initial share sales as it has returned the preliminary papers of half a dozen companies, including Oravel Stays, which operates hospitality chain OYO, in over two months. These companies have been asked to re-file their draft red herring prospectus (DRHP) with certain updates.
Apart from OYO, the firms whose draft papers have been returned by the regulator are — Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group; home-grown mobile maker Lava International; B2B payments and services provider Paymate India; Fincare Small Finance Bank India and integrated services company BVG India, according to an analysis of data with Sebi .
Sebi has become stricter in its approach while giving its go-ahead to IPOs after investors lost their money in some of the high-profile initial shares in 2021 and according to data compiled by Primedatabase.com, the average time taken by the markets regulator in approving an IPO in 2022 was 115 days. “After the IPO fiasco following the listing of new age digital companies like Paytm, Zomato and Nykaa in which investors lost heavily, Sebi has tightened the approval norms for IPOs. This is welcome and is in the interest of investors,” VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
However, ultimately investors have to apply their minds while applying for IPOs and avoid high-priced issues, he added. Earlier, Sebi continued to give grace periods to most firms, to file their full set of compliant documents, which used to lead to a high gestation period, as high as four months as of last year. This could lead to a big distortion in terms of the IPO price band, he added.
- To read more: Click Here
2. Another FPO on cards for Patanjali Foods; process to start from April: Baba Ramdev
New Delhi: With stock exchanges freezing shares of its promoters, Patanjali Foods on Thursday said the move will not impact the company’s operation and it will start the process of launching a Follow-On Public Offering (FPO) in April to increase the public shareholding to 25 per cent. Stock exchanges NSE and BSE have frozen the shares of promoters of Baba Ramdev-led Patanjali Group firm Patanjali Foods, which is a major edible oil player.
In an interview with PTI, Ramdev assured his investors and public shareholders that there would be no impact of Patanjali Foods Ltd’s (PFL) operation and financial performance and its growth trajectory will remain intact.
According to Ramdev, promoters’ shares are already under lock-in as per Sebi guidelines till April 8, 2023, which is one year from the date of listing, and the latest move by stock exchanges do not appear to have a negative impact on the functioning of PFL.
He further said that PFL is being operated by Patanjali group in an “ideal way” and is taking care of all factors such as the expansion of business and distribution, profitability and performance.
On Wednesday, Patanjali Foods Ltd (PFL) informed that leading bourses BSE and NSE had frozen shares of its 21 promoter entities, including Patanjali Ayurved and Acharya Balkrishna, who is the managing director of Patanjali Ayurved and co-founder of Patanjali Yogpeeth Haridwar, for failing to meet minimum public shareholding norms.
As per 19A(5) of SCR Rules where as a result of implementation of the resolution plan approved under section 31 of Code, public shareholding in a listed company falls below twenty-five per cent then such company shall bring the public shareholding to 25 per cent within a maximum period of three years from the date of such fall and if the public shareholding falls below ten per cent then the same shall be increased to at least ten per cent, within a maximum period of twelve months.
- To read more: Click Here
3. Govt approves listing of state-owned IREDA by selling part stake
The Union Government has approved a proposal to float the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) by selling its part stake in the company. The Department of Investment and Public Asset Management (DIPAM) will drive the listing process. The government had given initial approval for the listing in 2017.
The fresh approval for the IPO comes after the government infused Rs 1,500 crore capital in the company early last year. The additional equity infusion was made to enhance its net worth and to help it fund additional RE financing.
Further, the capital was supposed to improve the capital-to-risk weighted assets ratio (CRAR) to facilitate its lending and borrowing operations.
The government hopes the potential listing of the company will unlock value of its holding and at the same time provide opportunity to the investors to acquire a stake in the company.
Further, the IPO will help IREDA secure capital for meeting growth plans without depending on the public exchequer. “The listing will improve governance through greater market discipline and transparency arising from listing requirements and disclosures,” the release noted.
IREDA had reported 87% in its profit at Rs 201 crore for the December quarter, mainly on higher income. The net profit stood at Rs 107 crore in the same quarter of last year. Its total income rose by 17% to Rs 869 crore from Rs 743 crore in the year-ago quarter.
- To read more: Click Here
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | Delhi HC asks IRDAI to seek policies from insurance companies for persons with disabilities | Click Here |
| 2 | A year of reforms for insurance sector under Irdai’s Debasish Panda | Click here |
| 3 | IRDAI mandates creation of new standardised cover for mental illnesses; will it be easier buy insurance now? | Click here |
| 4 | IRDAI Plans To Introduce ‘EASE’ To Deliver A Host Of Insurance Services | Click here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | MeitY organized Chintan Shivir on the theme ‘Digital India Techade – Strategy and Implementation’ | Click here |
| 2 | DoT mulls to bring in private sector to manage C-DOT | Click here |
| 3 | BSNL 4G tender for 1 lakh sites with GoM: Vaishnaw | Click here |
| 4 | DoT issues advisory to secure consumer IoT services | Click here |
10. msme / SME updates
| Sl. | Particulars | Link |
| 1 | Shri Narayan Rane launches MSME Competitive (LEAN) Scheme under MSME Champions Scheme | Click here |
| 2 | Guarantees amounting to Rs 3.61 lakh crore issued under ECLGS, benefiting 1.19 crore borrowers as on 31.1.2023 | Click here |
| 3 | 38.58 crore loans extended since inception of Pradhan Mantri MUDRA Yojana (PMMY) | Click here |
| 4 | All grievances and monitoring of the outstanding dues of MSEs facilitated through Samadhan Portal | Click here |
11. Competition Commission of India (CCI)
| Sl. | Particulars | Link |
| 1 | CCI approves acquisition of METRO Cash and Carry India Private Limited by Reliance Retail Ventures Limited | Click here |
| 2 | CCI approves acquisition of sole control of Meritor by Cummins | Click here |
| 3 | CCI approves acquisition of 100% of equity share capital of L&T Infrastructure Development Projects Limited and Kudgi Transmission Limited, by Epic Concesiones Private Limited and Infrastructure Yield Plus II, respectively | Click here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | Meeting to review preparedness for the ensuing summer and mitigation measures, chaired by Cabinet Secretary on March 14, 2023 | Click here |
| 2 | NHB introduces simplified process for filing and approval of applications under its Subsidy Schemes | Click here |
| 3 | Ministry of Road Transport & Highways issues clarification regarding the scrapping of tractors after 10 years | Click here |
| 4 | Notifications issued to promote eco-friendly means of transportation and decarbonize the transport sector | Click here |
13. Current Affairs Quiz (taken from various sources)
| Sl. | Questions | Answers |
| 1 | ‘Bahu Balli’, the world’s first 200-meter-long Bamboo Crash Barrier has been installed in which state? | Maharashtra |
| 2 | Which country has proposed to create ‘International Big Cat Alliance’? | India |
| 3 | BrahMos Missile has been developed by a partnership between Russia’s NPO Mashinostroyeniya and which organisation of India? | DRDO |
| 4 | ‘Digital India Bill’ is associated with which Union Ministry? | Ministry of Electronics & IT |
| 5 | Dr Manik Saha was sworn-in as the Chief Minister of which Indian state in 2023? | Tripura |
| 6 | Salhoutuonuo Kruse made history by becoming the first woman Cabinet minister of which state? | Nagaland |
| 7 | Which institution introduced the ‘Global Greenhouse Gas Monitoring Infrastructure’? | WMO |
| 8 | ‘TROPEX 2023’ is a major Operational level exercise conducted by which country? | India |
| 9 | Which country introduced the ‘Illegal Migration Bill’? | UK |
| 10 | Mimeusemia ceylonica, rare moth species, has been spotted for the first time in India, in which state? | Tamil Nadu |
Source: gktoday.in
- Top 5 Current Affairs:
- Governor R.N. Ravi returned to the State government the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Bill, passed by the Assembly.
- India hosted the third session of the National Platform for Disaster Risk Reduction (NPDRR) at New Delhi.
- The Prevention of Money Laundering Act, 2002 was enacted by the Indian Parliament to prevent money laundering.
- RadioGPT is the world’s first-ever radio platform powered by artificial intelligence. Developed by Ohio-based media company Futuri, it uses TopicPulse technology to detect local market trends and create scripts for radio broadcasts.
- The safe harbour principle of the IT Act, 2000 relieves the internet intermediaries from responsibility for third-party content on their platforms. The newly introduced Digital India Act, 2023, which seeks to replace the IT Act, has proposed the revision of the safe harbour clause. The legislation seeks to make social media sites accountable for user-generated contents.
The End
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.
