WEEKLY CORPORATE AFFAIRS NEWSLETTER

1.SEBI UPDATES:

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Particulars

Link

1

Levy of Goods & Services Tax (GST) on the fees payable to SEBI

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2

Adjudication Order in respect of Hirji Kanji Patel in the matter of Allied Computers International Asia Ltd.

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3

SEBI Bulletin – June 2022 [MSWord] [MSExcel]

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4

Shri Pramod Rao takes charge as Executive Director, SEBI

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5

Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA Annexure A

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6

Informal Guidance Sought by Club Millionaire Financial Services Pvt. Ltd. regarding shareholding in CDSL and treatment as Person Acting in Concert for a SEBI registered Portfolio Manager

 

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7

Consultation Paper on Online Bond Trading Platforms – Proposed Regulatory Framework

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8

Consultation Paper on the framework for platforms providing “execution- only” services in direct plans of Mutual Funds

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2. MCA – 21 UPDATES

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Particulars

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1

·         Stakeholders please note that Ministry of Corporate Affairs is launching first set of Company Forms (9 forms) on MCA21 V3 portal on 31st Aug 2022 at 12:00 AM.

·         More than 2.17 Lac LLP Forms have been filed since launch of V3 LLP

Portal including more than 40,400 Forms for LLP Name Reservation and LLP Incorporation as on 18-Jul-2022.

 

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2

Claim Notice of M/s Narindera Paper Products Limited (in liquidation)

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3. RBI / BANKS UPDATES

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Particulars

Link

1

Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)

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2

Overseas Direct Investment for June 2022

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3

Regulatory Sandbox (RS): Second Cohort on ‘Cross-Border Payments’ – Exit

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4

Launching of 34th Round of Quarterly Services and Infrastructure Outlook Survey (SIOS)–Q2:2022-23

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5.

Meeting of the Monetary Policy Committee – Rescheduling

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6.

Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract

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7.

RBI imposes monetary penalty on Suryoday Small Finance Bank Ltd

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8

Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on July 28, 2022 (Series II of SGB 2017 – 18)

 

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            4. IBC / INSOLVENCY LAW UPDATES 

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Particulars

Link

1

In the matter of Mr. Getticheviyur Venkatraman Ravikumar, Insolvency Professional

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2

In the matter of Mr. Anil Tayal, Insolvency Professional

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3

Notice – 3rd National Online Quiz on the Insolvency and Bankruptcy Code, 2016 reg.

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4

In the matter of Mr. Gonugunta Murli, Insolvency Professional

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5. LABOUR LAW UPDATES 

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Particulars

Link

1

Labour Laws for Gig Workers in the Context of Labour Law Reforms

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2

Wait for labour codes continues, even as most states publish draft rules

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3

MGNREGA Helped Rural People Fend Against The Pandemic: Official

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4

Know the maximum investment in VPF for tax free interest on EPF account

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5

EPFO for Contractual Employees: Here is how the retirement fund body protects rights of contract staff

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6

IMPLEMENTATION OF LABOUR CODES

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7

SOCIAL SECURITY CONCERNS OF INDIANS WORKING ABROAD

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8

WELFARE OF UNSKILLED/SKILLED LABOURERS

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9

ASSISTANCE TO JOB SEEKERS

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   6. PRESS INFORMATION

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Particulars

Link

1

Consultative Committee of Ministry of Civil Aviation discusses ‘DIGI YATRA’ project

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2

Extended Producer Responsibility

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3

Recycled plastic content in plastic packaging to promote circular economy

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4

Compensation under The Dam Safety Act, 2021

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5

Last date for submission of Applications under Design led Manufacturing scheme extended till  5th August 2022

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6

Digitization of Panchayats

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7

448 notices served to E-Commerce entities for violations of declaration during last one year and nine months

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8

Schemes for Women through Self Help Groups

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9

Amendment in maintenance and welfare of parents and senior Citizens act, 2007.

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10

The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 has resulted in enhancing the income basket of the beneficiaries

 

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11

Linking of Aadhaar Card for Supplementary Nutrition Programme

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12

Bureau of Indian Standards publishes 10 Indian Standards on safety aspects of Toys related to physical safety, safety against chemicals, flammability, electrical safety

 

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13

Extension of PMAY-Urban Mission upto March 2024 is under consideration

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14

Maternity Benefits Under the Maternity Benefit (Amendment) Act,2017

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15

206 Crore released to States for promotion of exports under TIES scheme

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  7. IPO & INVESTMENT SECTION  

Issuer Company

Exchange

Open

Close

Lot Size

Issue Price (Rs)

Issue Size (Rs Cr)

Upsurge Seeds of Agriculture Limited IPO

NSE SME

Jul 29, 2022

Aug 02,

2022

1200

120

22.81

  Key Updates in Brief {Source- ET, BS }

1.  SoftBank halts plans for Arm’s London IPO – FT

SoftBank has put on hold plans for a London initial public offering of the British chip technology firm Arm Ltd because of the political turmoil in the UK government, the Financial Times reported on Monday.

The departures of investment minister Gerry Grimstone and digital minister Chris Philp, following the collapse of UK Prime Minister Boris Johnson’s government earlier this month, have led SoftBank to pause discussions about Arm’s UK listing next year, the FT reported, citing people briefed on the talks.

SoftBank acquired Cambridge, England-based for Arm $32 billion in 2016, and has been considering a dual-listing for the chip-designer in the UK and the United States.

·         To read more: Click Here

2. Sai Silks files IPO draft papers with Sebi; eyes up to Rs 1,200 cr

Ethnic apparel retailer Sai Silks (Kalamandir) Limited has filed preliminary papers with capital markets regulator Sebi to raise as much as Rs 1,200 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 600 crore and an offer for sale of up to 18,048,440 equity shares by promoters and promoter group entities, according to the draft red herring prospectus (DRHP).

The net proceeds of the fresh issue will be used for establishing 25 new stores, setting up two warehouses, supporting working capital requirements, payment of debt and general corporate purposes. The equity shares are proposed to be listed on BSE Limited and National Stock Exchange (India) Limited.

Through its four store formats — Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall — the company offers products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value fashion.

·         To read more: Click Here

3.Mitsu Chem Plast files draft papers with Sebi to mop up Rs 125-cr via FPO

Packaging solutions provider Mitsu Chem Plast has filed draft papers with Sebi to raise up to Rs 125 crore through a follow-on public offer (FPO). The further issue comprises “equity shares of face value of Rs 10 each aggregating up to Rs 12,500 lakh,”, the draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi) showed.

Proceeds from the issue will be used to repay debt, fund the working capital requirements of the company and for general corporate purposes. The Maharashtra-based company posted a profit after tax of Rs 11.5 crore and a total income of Rs 259 crore for the fiscal ended March 31, 2022.

Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer-based molded products mainly used for industrial packaging for industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food and edible oil.

It has three manufacturing units in Maharashtra with a total installed capacity of 22,857 MTPA (Metric Tonne Per Annum). The company’s scrip was trading at Rs 270, up 0.47 per cent on the BSE in the morning trade.

  8. IRDAI – INSURANCE UPDATES                

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Particulars

Link

1

Standards and Benchmarks for the Hospitals in the Provider Network

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2

Working Group on Accounting of Premium, Claims and Related Expenses on Estimation Basis and Repatriation of Surplus by FRBs.

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3

Segment wise Gross Direct Premium data for Non-life Insurers -for and up to the Month of June 2022”

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4

List of Insurance Marketing Firms as on the date of upload

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5

Big update for insurance sector: IRDAI allows insurers to empanel hospitals for cashless facility

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9. DEPARTMENT OF TELECOMMUNICATIONS (DOT)

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Particulars

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1

Digital outreach across the Country

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2

Spending on Bharatnet Project

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3

SETTING UP OF MOBILE TOWERS

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4

DAK KARMAYOGI

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5

Government    undertakes    several    initiatives     to    promote     electronics manufacturing in India

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6

4G and 5G Licenses to BSNL and MTNL

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7

New law relating to information technology and data protection

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10. MSME / SME UPDATES 

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Particulars

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1

Govt of India to roll out Schemes for Strengthening Pharmaceuticals

Industry with Focus on MSMEs and Clusters

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2

Role of MSMEs in Manufacturing Sector

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3

Creativity and Entrepreneurship in MSME Sector

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4

Govt launches 3 schemes to strengthen MSMEs in pharmaceutical sector

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5

MSMEs withdraw registration from Modi govt’s Udyam portal; business

shutdown among key reasons

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  11. COMPETITION COMMISSION OF INDIA (CCI)    

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Particulars

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1

CCI issues cease and desist order against Trailer Owner Associations based in Chennai for indulging in anti-competitive practices

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2

CCI Vs WhatsApp: Facebook Says Competition Watchdog Can’t Probe Platform In A ‘Creeping Fashion’

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3

Domino’s India may shift business away from delivery firms Zomato and Swiggy

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4

Dedicated CCI regulatory wing to keep check on apps in the offing

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    12. CABINET DECISIONS / NEW ACTS

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Particulars

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1

Compensation under The Dam Safety Act, 2021

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2

Implementation of dam safety act, 2021

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3

Department of Commerce notifies rules for Work from Home for Special Economic Zones

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4

MODEL BYE-LAWS FOR PACS

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5

The Government has prepared a new draft of National Youth Policy, which has been placed in public domain: Shri Anurag Thakur

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6

Implementation of SVAMITVA Scheme

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13. CURRENT AFFAIRS QUIZ (TAKEN FROM VARIOUS SOURCES)

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Questions

Answers

1

The ‘National Flag Day’ is celebrated in which day in India?

July 22

2

Which is the venue of the ISRO’s ‘Human Space Flight Expo’?

Bengaluru

3

Who are the beneficiaries of ‘Pradhan Mantri Vaya Vandana Yojana’?

Senior Citizens

4

Which tech company funds the ‘DigiVaani Call Center’ set up

recently by NASSCOM?

Google

5

Which state is ranked first in the NITI Aayog’s India Innovation

Index (2021)?

Karnataka

6

‘Banthia Commission’ report, which was seen in the news, is

associated with which field?

Reservation in Local bodies

7

Who has been selected as the 15th President of India?

Draupadi Murmu

8

Which Indian state/UT has launched first AI-powered digital Lok Adalat?

Rajasthan

9

India signed a MoU with which country for reintroduction of cheetah and wildlife conservation?

Namibia

10

Mairaj Ahmad Khan, who was seen in the news recently, is associated with which sports?

Shooting

Top 7 Current Affairs:     

  1. National Broadcasting Day 2022: On July 23, India celebrates the National Broadcasting Day, with the aim of reminding people regarding the impact of radio on our lives. It marks the establishment of first-ever radio broadcast “All India Radio (AIR)” in India. All India Radio (AIR) celebrated the day by holding a symposium on Creation of New India and Broadcasting Medium in New Delhi.
  2. Gujarat Government is all set to offer e-FIR service for the crimes like mobile or two- wheeler theft. Taking a step towards digital governance, the “e-FIR system” was launched in The e-governance initiatives and e-FIR system has been launched as a part of “e-GujCop project”. This move is aimed at resolving the mentioned incidents in faster manner.

       The eGujCop Project was launched on September 19, 2013. It is a unique system, integrating IT into working of the Home Department. The project helps in preventing the wrongdoers            from committing crimes in society.

  1. The World Day for International Justice is observed on July 17 every year to sensitise on  international    justice    and    to    promote    the    rights    of    the     It is also known as the Day of International Criminal Justice, and celebrates the approval of the Rome Statute and the formation of the new international criminal justice system in 1998. Over 139 countries have signed the International Criminal Court’s Treaty.

      4. National School of Drama (NSD), New Delhi is organizing a festival “Azadi Ka Amrit Mahotsav – 22nd Bharat Rang Mahotsav, 2022. NSD is an autonomous organization under                      Ministry of The festival aims to remember and pay tribute to our freedom fighters, under ‘Azadi Ka Amrit Mahotsav 2022’. The festival will be inaugurated in New Delhi and it will be               organized in 5 other cities of Bhubaneswar, Varanasi, Amritsar, Bengaluru and Mumbai.

  1. The Securities and Exchange Board of India (SEBI) has approved the appointment of Ashishkumar Chauhan as the next Managing Director and CEO of the National Stock Exchange (NSE). Chauhan is currently the MD and CEO of the Bombay Stock Exchange (BSE) and his tenure will end in November 2022. Ashishkumar is one of the founders of the NSE and he worked in the NSE from 1992 to 2000.
  2. The Department of Consumer Affairs has launched “Jagriti”, a mascot for empowering consumers and generating awareness of their rights. Jagriti mascot will be shown along with tagline ‘Jago Grahak Jago’ in all its media campaigns. It will be used to generate consumer awareness about various themes of the Department like provisions of Consumer Protection Act, Hallmarking, and National Consumer Helpline 1915 among
  3. The Ministry of Education has released the National Institutional Ranking Framework (NIRF) for the year 2022. Indian Institute of Technology Madras has retained its first position for the fourth consecutive year in the overall category and for the seventh consecutive year in Engineering. Indian Institute of Technology, Delhi was ranked second while Indian Institute of Technology, Bombay, is ranked third.

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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