Weekly Corporate Affairs From 06/07/22 to 12/07/22

Newsletter Contents:

SEBI Updates

MCA Updates

RBI Updates IBC Updates

Labour Law Updates

Press Information

IPO & Investment updates

IRDAI Updates

Department of Telecommunications

MSME Updates

Competition Commission of India

Current Affairs – FAQ’s

1. SEBI UPDATES:

[Sl.ParticularsLink
1Names of the companies/Intermediaries/MIIs having complaints pending for more than 3 months on SCORES as on June 30, 2022Click Here
2Status of SCORES complaints as on June 30, 2022Click Here
3Consultation Paper on Applicability of SEBI PIT Regulations to MF unitsClick Here
4Caution to public against fraudulent calls / e-mails / messages about refund of moneyClick Here
5Modification in Cyber Security and Cyber resilience framework of Qualified Registrars to an Issue and Share Transfer Agents (QRTAs)Click Here
6Modification in Cyber Security and Cyber resilience framework of KYC Registration Agencies (KRAs)Click Here
7Investor Grievance Redressal Mechanism and Amendment to SEBI Circular no. SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017Click Here
8E-Auction Sale Notice for Sale of Immovable Property of Arun Panchariya (Recovery Certificate No. 3196/2020)Click Here

2. MCA – 21 UPDATES

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1Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules,2022Click Here
2Companies (Incorporation) second Amendment Rules 2022Click Here
3SALES NOTICE OF TESTEELS LTDClick Here

3. RBI / BANKS UPDATES

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1Asian Clearing Union (ACU) Mechanism – Indo-Sri Lanka tradeClick here
2Inclusion of “Unity Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934Click here
  3Master Direction on Interest Rate on Deposits – Foreign Currency (Non- resident) Accounts (Banks) Scheme [FCNR(B)] and Non-Resident (External) Rupee (NRE) DepositClick here
4Formation of new districts in the State of Andhra Pradesh – Assignment of Lead Bank ResponsibilityClick here
5.‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Additional specified securitiesClick here
6.Investment by Foreign Portfolio Investors (FPI) in Debt – RelaxationsClick here
7.Overseas foreign currency borrowings of Authorised Dealer Category-I banksClick here
8.Reserve Bank of India – Bulletin Weekly Statistical Supplement – ExtractClick here
9.Reserve Bank holds 32nd Conference of State Finance SecretariesClick here
10.RBI Working Paper No. 08/2022: Towards Atma Nirbhar Bharat: An Exploration of Linkages and LeakagesClick here

4. IBC / INSOLVENCY LAW UPDATES

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1IBBI (Employees’ Service) (Amendment) Regulations, 2022Click here
2In the matter of Mr. Sunil Kumar Agarwal, Insolvency ProfessionalClick here
3Appointment of Smt. Anita Shah Akella as ex-officio member in the Insolvency and Bankruptcy Board of IndiaClick here
4Shri Jayanti Prasad takes charge as Whole-time Member of Insolvency and Bankruptcy Board of IndiaClick here
5In the matter of Mr. Avishek Gupta, Insolvency ProfessionalClick here

5. LABOUR LAW UPDATES

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1As with farm laws, Government fails to consult unions on proposed ‘Labour Codes’Click Here
2New Wage Code to be implemented soon: 5 Key things salaried person needs to know about new Labour lawsClick Here
3Clarifications needed to implement the labour codes in the right spirit | VIEWSClick Here
4EPFO to disburse pension to over 73 lakh pensioners in one go soon: ReportClick Here
5Salary Limit May Be Increased To ₹ 21,000 For Benefits Under EPF (Employee Provident Fund)Click Here

6. PRESS INFORMATION                       

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  1Odisha, UP, AP emerge as top three states among General Category States in the 1st ‘State Ranking Index for NFSA’; Tripura, Himachal Pradesh and Sikkim take top three positions in the Special Category States/UTs  Click here
2New material discovered can convert infrared light to renewable energyClick here
3National Commission for Women organises Capacity Building Training Programme for Women Traders of ManipurClick here
4Prime   Minister   to   inaugurate   Akhil Bharatiya Shiksha Samagam on implementation of NEP at Varanasi tomorrowClick here
5Revenue Deficit Grant of Rs. 7,183.42 crore released to 14 StatesClick here
6Rapidly charging E-cycle developed with Na-ion batteries and supercapacitorsClick here
7Centre directs leading Edible Oil Associations to reduce prices by Rs. 15 with immediate effectClick here
8“Log Bhagidaari” pivotal for launching Jan Abhiyaan for vector control and elimination: Dr Mansukh Mandaviya to States ahead of monsoon seasonClick here
9APEDA organises farming demonstrations and farm training for students; Initiative is part of National Education PolicyClick here
10Pradhan Mantri National Apprenticeship Mela to be conducted in 200 locations across IndiaClick here

       7. IPO & INVESTMENT SECTION

Issuer CompanyExchangeOpenCloseLot SizeIssue Price (Rs)Issue Size (Rs Cr)
Healthy Life   Agritec Limited IPOBSE SMEJul 13, 2022Jul 18, 2022100001010.00

Key Updates in Brief {Source- ET, BS etc.}

  1. Tata Motors said to plan IPO for its arm Tata Tech

Tata Motors is planning to publicly list its global product engineering and digital services subsidiary Tata Technologies and has appointed bankers for the initial public offering (IPO), according to reports.

This could be the first public float from the Tata Group since the ₹5,500-crore IPO of India’s largest software services exporter, Tata Consultancy Services, in 2004.

According to the reports, the automotive company has appointed Citigroup to explore options for the public issue.

While Tata Motors holds a 72.48% stake in Tata Technologies as of March 31, Alpha TC Holdings and Tata Capital Growth Fund own 8.96% and 4.48%, respectively. Its other investors include Tata Motors Finance, Tata Enterprises Overseas, Zedra Corporate Services, and Patrick Raymon McGoldrick.

2. Private equity firm General Atlantic exploring IPO

Private equity giant General Atlantic is exploring an initial public offering, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

The company is working with advisers, but market turmoil could delay the stock listing, which may not happen until next year, the report said. General Atlantic declined to comment when contacted by Reuters.

Earlier this year, buyout firm TPG Inc went public after what was the biggest U.S. IPO so far of 2022. However, a risk-off sentiment has swept across global markets as threats of a looming recession spook investors, leading to a freeze in the market for IPOs.

3. Startups rethink IPOs as markets fall out of love with unicorns

Valuations of several new-age companies have taken a beating in the market for unlisted shares as the craze towards startups wanes, which could possibly delay their plans to go public. PharmEasy, Oyo, Boat and Ixigo have seen a sharp fall in value in the past six months, according to people dealing in the unlisted equity market.

This could make promoters and private equity investors hesitant to go for a public issue of shares. The weak stock market performance of Paytm, Policybazaar post their IPO will also weigh on investor minds, they said.

“Domestic investors have realised that if a private equity is taking exit in a stock, then the scope of upside in share prices is extremely minimal,” said Sarffin Financial Advisors director Rahul Thalia. “Be it PB Fintech (Policybazaar) or Paytm, they have shown that overpriced companies quickly lose investors’ favour; high valuations are insupportable in the longer term. Now, investors have returned to companies like NSE (National Stock Exchange) or CSK (Chennai Super Kings) where they see more value.”

8. IRDAI – INSURANCE UPDATES

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1Sophisticated Add-Ons to Motor – Own Damage policyClick here
2New Business Statement of Life Insurers for the Period ended 30th June, 2022.Click here
3New Business Data as at 30.06.2022 (Line of Business wise)Click Here

9. DEPARTMENT OF TELECOMMUNICATIONS (DOT)

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1Team of DoT officers visits offices of M2M Service Providers to see M2M/IoT technology solutions/offerings developed by themClick here
2Steering Committee deliberates roadmap for 53rd International Film Festival of India (IFFI)Click here
  3National Internet Exchange of India(NIXI) introducing Internet Exchanges in Durgapur and Bardhaman to improve quality of Internet and Broadband services in West Bengal and nearby regionsClick here
4Second day of ‘India Stack Knowledge Exchange’ witnesses brainstorming discussion and knowledge sharing on Health Stack, Agri-Stack, Skilling Stack and Digital InclusionClick here
5The major objectives of #NationalBroadbandMission can be met by following certain parameters. Let’s look at them here. To know the other details of how the Mission is bringing #BroadbandForAll,Click here

10. MSME / SME UPDATES

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1CMD, IREDA addresses “MSME Banking Conclave 2022”Click here
25 new govt schemes to uplift MSMEs and help them stay relevantClick here
3Legal support to help MSMEs tackle challengesClick here
4IREDA to increase MSME participation in renewable energy by offering more loansClick here
5PM Modi launches RAMP scheme for MSMEs, CBFTE scheme for first- time exportersClick here

11. COMPETITION COMMISSION OF INDIA (CCI)   

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1CCI Approves Acquisition of Citrix Systems, Inc.Click here
2Competition Commission of India takes on Big Tech, but needs sharper laws to deliver final blowClick here
3Karnataka High Court Extends Time For Google India To Reply To CCI Probe On Playstore Payment PolicyClick here

12. CABINET DECISIONS / NEW ACTS

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  1Notification issued to include compliance with Fuel Consumption Standards ( FCS), for light, medium and heavy duty motor vehicles of various categories, manufactured in, or imported by, India  \       Click here
2MoD approves three Private Sector Banks to provide financial services in overseas procurementClick here
3Union Finance Minister Smt. Nirmala Sitharaman chairs meeting with heads of Public Sector Banks and Regional Rural Banks (RRBs)Click here
4Ministry of Women and Child Development issues  Guidelines for Mission Vatsalya SchemeClick here

13. CURRENT AFFAIRS QUIZ (TAKEN FROM VARIOUS SOURCES)

Sl.QuestionsAnswers
1Which state received approval for a USD 300 million World bank- funded school education project?Chhattisgarh
2‘Mission Vatsalya’, which was seen in the news, is a scheme implemented by which Union Ministry?Ministry of Women and Child Development
3‘Convention for the Safeguarding of the Intangible Cultural Heritage (ICH)’ is associated with which institution?UNESCO
4What is   the   name   of   the   single   repository   of   all   Indian government’s digital projects, to be shared with the world?Indiastack. global
5Who has been named as India’s new Sherpa for the G-20, after Piyush Goyal?Rs 2516 Crore
6Which institution released the ‘Global Findex database 2021’?World Bank
7Which city is the host of ‘2022 Global biodiversity conclave’?Bonn
8Which company launched ‘Startup School India (SSI)’ initiative?Google
9Which city was ranked first in India in the EIU ‘Global Liveability Index 2022’?New Delhi
10Fields Medal, which was seen in the news recently, is associated with which field?Mathematics

Top 5 Current Affairs:

  1. The Central Board of Secondary Education (CBSE) has launched a new portal named Pariksha Sangam.
  2. The Reserve Bank has launched the next round of its order books, inventories and capacity utilisation survey (OBICUS) of manufacturing companies.
  3. The consumer may lodge a complaint on the National Consumer Helpline (NCH) 1915 or through the NCH mobile application, as per the Union Ministry of Consumer Affairs, Food and Public Distribution.
  4. Prime Minister Narendra Modi inaugurated the Digital India Week 2022 in Gandhinagar in Gujarat. The theme for Digital India Week is Catalyzing New India’s Techade.
  5. The UN Ocean Conference 2022 concluded with the unanimous adoption of the Lisbon

Declaration “Our Ocean, our future, our responsibility.”

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.

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