Weekly Corporate Compliance Calendar for March, 2022 [Period 01/03/22 to 07/03/22]

1. SEBI UPDATES:

[Sl. Particulars Link 
1 Adjudication Order in respect of 13 entities in the matter of IPO of Channel Nine Entertainment Ltd Click Here 
2 Takeover – Eveready Industries Limited Click Here 
3 Adjudication order in respect of ABN Global Securities Private Limited in the matter of dealing in Illiquid Stock Options at BSE Click Here 
4 Ms. Madhabi Puri Buch takes charge as Chairperson, SEBI Click Here 
5 Securities and Exchange Board of India (Employees’ Service) Regulations, 2001 [Last amended on January 24, 2022] Click Here 
6 Unserved SCN in respect of YASH AGARWAL (PAN- BGWPA9872R) in the matter of dealing in Illiquid Options at BSE Click Here 
7 Debt offer document – Kosamattam Finance Limited – Draft Prospectus Click Here 
8 Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida San ctions List: removal of 2 entries Click Here 
9 “SEBI Order for Compliance” – Remittance Order under RC No. 863 of 2016 against Shree Sai Spaces Creations Ltd and its directors Click Here 

2. MCA – 21 UPDATES

Sl. Particulars 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 Invitation of application for appointment of Chartered Accountant/Company Secretary/Cost Accountant having requisite Qualification & Skill as Young Professional in the office of Registrar of Companies, Guwahati.  Click Here 
4 LLP (2nd Amendment) Rules 2022 Click Here 

3. RBI / BANKS UPDATES

Sl. Particulars Link 
1 Investment in Umbrella Organization (UO) by Primary (Urban) Co-operative Banks Click here 
2 Renewal of the Bilateral Swap Arrangement between Japan and India Click here 
3 Sectoral Deployment of Bank Credit – January 2022 Click here 
4 Lending and Deposit Rates of Scheduled Commercial Banks for the month of February 2022 Click here 
5. RBI releases data on ECB/FCCB/RDB for January 2022 Click here 
6. RBI launches the March 2022 round of the Inflation Expectations Survey of Households Click here 
7. 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. Vishwanath Shridhar Prabhu, Registered Valuer Click here 
2 Quarterly Newsletter for Oct-Dec, 2021 Click here 
 3 Insolvency and Bankruptcy Board of India signs Memorandum of Understanding (MoU) with Indian Banks Association (IBA) at a Workshop on “Committee of Creditors: An Institution of Public Faith” at New Delhi.  Click here 
4 Recovery blues for lenders under IBC; pandemic, delay in resolutions hit insolvency proceedings Click here 

5. LABOUR LAW UPDATES

Sl. Particulars Link 
1 TDS on EPF: When TDS is applicable on EPF withdrawal, how to avoid it Click Here 
2 How to transfer EPF account from EPFO to employer’s EPF trust and vice versa Click Here 
3 How to check your EPF claim status: Step-by-step guide Click Here 
4 Can 2 months gap in job affect 5-year continuous service norm to withdraw EPF? Click Here 
5 Employer has to pay damages for delay in payment of EPF contribution: SC Click Here 
5 Employer has to pay damages for delay in payment of EPF contribution: SC Click Here 

  6. PRESS INFORMATION

Sl. Particulars Link 
1 Tariff Notification No. 12/2022-Customs (N.T.) in respect of Fixation of Tariff Value for Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Click here 
2 Shri Nitin Gadkari inaugurates and lays foundation stone of 46 National Highway Projects with investment of Rs 19,930 crore in Karnataka Click here 
3 Science and Technology in the Union Budget 2022 Click here 
4 DPIIT to organize Post Budget Webinar on “Make in India for the World” Click here 
5 Reduction of compliances and end-to-end automation of procedure relating to import of certain goods at concessional rate of duty Click here 
6 Govt to support Startups through better incubation centres in smaller towns: Shri Goyal Click here 
7 Experts discuss ways to transform India through Geospatial knowledge & Click here 
 infrastructure  
8 HANSA-NG successfully completes sea level trials at Puducherry Click here 
9 Postponement of DefExpo 2022 Click here 
10 Government led by Prime Minister, Shri Narendra Modi has approved the scheme – Modernisation Plan-IV for Central Armed Police Forces (CAPFs) Click here 

7. IPO & INVESTMENT SECTION  

Issuer Company Exchange Open Close Lot Size Issue Price (Rs) Issue Size (Rs Cr) 
SP Refactories Limited IPO NSE SME Mar 09, 2022 Mar 11, 2022 1600 90 4.92 
Cool Caps Industries Limited IPO NSE SME Mar 10, 2022 Mar 15, 2022    
  • Key Updates in Brief {Source- ET, BS etc.} 
  1. LIC IPO: Govt may defer launch to next fiscal amid Russia-Ukraine war, say experts 

The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed disinvestment target of Rs 78,000 crore this fiscal. 

The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers’ interest in the public issue, market experts said on Sunday. Generally, in a highly volatile market, investors tend to play safe and refrain from making fresh investments. 

Finance Minister Nirmala Sitharaman too had indicated a review of the IPO in view of the evolving geopolitical situation. If the initial share-sale is deferred to the next fiscal, the government would miss the revised disinvestment target by a huge margin. So far, the government has raised Rs 12,030 crore through CPSE disinvestment and Air India’s strategic sale this fiscal. The government had earlier projected to garner Rs 1.75 lakh crore from disinvestment during 2021-22. To read more: Click Here 

  1. LIC PAN link deadline: Last date for policyholders to update PAN to apply for IPO 

Life Insurance Corporation of India (LIC) had asked its customers to update their PAN details with LIC policy to participate in the upcoming LIC IPO. The last date to update PAN is February 28, 2022. 

A policyholder who does not update his or her PAN before February 28, 2022 will be ineligible to invest in the LIC IPO under the amount allocated for policyholders, according to the LIC DRHP filed with SEBI. 

According to the LIC DRPH, “A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28, 2022) shall not be considered as an Eligible Policyholder.”

How to update PAN details on LIC website 

  1. Step 1: Visit the official LIC website https://licindia.in/ 
  1. Or visit the page directly- https://linkpan.licindia.in/UIDSeedingWebApp/ 
  1. Step 2: From the home page, select the ‘Online PAN Registration’ option. 
  1. Step 3: On the Online PAN Registration page, tap the ‘Proceed’ button. 
  1. Step 4: Provide correct email address, PAN, mobile number and LIC policy number. 
  1. Step 5: Enter the Captcha code in the box. 
  1. Step 6: Click on ‘Get OTP’ 
  1. Step 7: Once you’ve received the OTP, input the OTP digits into the space provided for it on the portal and submit. 
  1. Cool Caps to launch Rs 11.62 cr IPO, to list on NSE Emerge 

Cool Caps Industries, a manufacturer of plastic bottle caps and closures, is launching its IPO on March 10 to raise funds from the primary market. The company will be listed on NSE Emerge, the MSME platform of National Stock Exchange (NSE). The issue can be subscribed till March 15, the company said. 

In the initial stake sale, the company proposes to sell 30,60,000 equity shares under the book building process of Rs 10 each aggregating Rs 11.62 crore. Founded in 2015, Cool Caps is raising funds to fuel growth, to meet working capital requirements and for general corporate purposes. It has appointed Holani Consultants to manage the issue, whereas Link Intime India is the registrar for the issue. To read more: Click Here 

  1. Geojit launches IPO application facility through WhatsApp 

Geojit Financial Services has announced that it has rolled out a facility for investors to invest in initial public offerings (IPOs) through WhatsApp. Geojit offers end-to-end support on WhatsApp to simplify the process of applying for IPOs for its customers. The key feature of the service is an embedded option called e-IPO, which allows investors to navigate the IPO application process with ease and convenience. 

Geojit’s customers can subscribe to any IPO through the WhatsApp chat window without opening or logging in to any other app during the application process. Developed by Geojit Technologies, the WhatsApp channel offers a convenient stock trading and mutual funds investment experience with user-friendly features, valuable market insights, and a robust safety framework. 

All customers having a valid UPI (Unified Payments Interface) ID and using any of the standard UPI-enabled mobile applications can use this service. To read more: Click Here 

  8. IRDAI – INSURANCE UPDATES  

Sl. Particulars Link 
1 Draft notification of Motor Third Party Premium Rates for the Financial Year (FY) 2022-23 for stakeholder’s consultation Click here 
2 Term is not enough, buy personal accident insurance cover too: Expert Click here 
3 Irdai Wants Lifelong Renewability Of Personal Accident Insurance; Time- Bound Porting Of Policy Click Here 
4 Govt proposes hike in third-party motor insurance premium from next fiscal Click Here 

9. DEPARTMENT OF TELECOMMUNICATIONS (DOT)

Sl. Particulars Link 
1 PM delivers inaugural address at Post- Budget Webinar on ‘Technology- enabled Development’ Click here 
2 India signs Host Country Agreement with the International Telecommunication Union for establishment of Area Office & Innovation Centre at New Delhi Click here 
3 Minister of State for Electronics and IT, Shri Rajeev Chandrasekhar inaugurates NIC Tech Conclave 2022 Click here 
 4 #IndiaAndInnovation: Known as the ‘Father of Fibre Optics’, Narinder Singh Kapany made the discovery of communication via optical fibre and had over 100 patents. He also coined the term fibre optics in an article written for Scientific American in 1960. #AmritMahotsav #IdeasAt75  Click here 
5 The ITU Area office will provide opportunities to our startups and talent to develop and contribute more to the Telecom technology. Click here 

10. MSME / SME UPDATES

Sl. Particulars Link 
1 Ministry of MSME Celebrates “Iconic Week” from 28.02.2022 – 6.03.2022 under the Azadi ka Amrit Mahotsav Initiative Click here 
 2 A Brainstorming Session on ‘Logistics Workforce Strategy- Enhancing Skill And Employment Opportunities’  Click here 
3 Ministry of MSME organizes Mega Summit on Plastics Recycling & Waste Management and Launches Special Drive to Promote Entrepreneurship Click here 
4 RBI organises MSME meet in Dibrugarh to create awareness about financial linkage Click here 
5 Budget fails to cheer MSME community Click here 

11. COMPETITION COMMISSION OF INDIA

Sl. Particulars Link 
1 CCI organising 7th National Conference on Economics of Competition Law to be held on March 4, 2022 in Virtual Mode Click here 
2 Competition Commission of India organises Seventh Edition of National Conference on Economics of Competition Law Click here 
3 CCI disposes of complaint against Amazon Seller Services, other related entities Click here 
4 CCI orders probe against Star India for alleged abuse of dominant position Click here 

12. CABINET DECISIONS / NEW ACTS

Sl. Particulars Link 
1 Government invites applications for National Startup Awards 2022 across 17 sectors and 7 special categories Click here 
2 Invitation for public comments on draft ‘IFSCA Guidance framework on Sustainable and Sustainability linked lending by financial institutions in IFSCs’ Click here 
 3 MoD accords in-principle approval to four projects under Make-I (Government Funded) & five under Make-II (industry-funded) categories of Defence Acquisition Procedure 2020  Click here 
4 Draft notification issued for validity of fitness certificate and registration mark of the motor vehicle to be exhibited on the vehicles in the manner as prescribed in the draft rules Click here 
5 Notification issued for Detailed Accident Report and incorporation of validated mobile number in Certificate of Insurance Click here 
6 Government holds consultation with film industry on proposed amendments to Cinematograph Act Click here 

13. CURRENT AFFAIRS QUIZ (TAKEN FROM VARIOUS SOURCES)

Sl. Questions Answers 
1 ‘Theyyam’ or ‘Kaliyattam’ is a ritual dance performed in which state/UT? Kerala 
2 What is the objective of the ‘Jan Aushadhi Bal Mitra programme’? Educate Children on PMBJP 
3 ‘Zaporizhzhia Nuclear Power Plant’, which was seen in the news recently, is located in which country? Ukraine 
4 What is Garabogazköl? Lagoon 
5 Which process converts sugar to acids, alcohol, or gases? Fermentation 
6 What is Africa’s original name? Alkebulan 
7 What is the name of India’s first of the four stealth guided missile destroyers under Project 15B? INS Vishakhapatnam 
8 Ukraine shares border with how many EU Member states? Four (4) 
9 Which Institution organised the ‘National Innovation Conclave on Bureau of Energy 
 Low Carbon Technologies’? Efficiency 
10 What is the new motto of National Commission for Protection of Child Rights (NCPCR)? Bhavishyo Rakshati Rakshit 

Top 5 Current Affairs:

  1. The United Nations Environment Assembly (UNEA) with 175 member countries, signed a mandate which makes it legally binding for the signatories to end plastic pollution. The Global Plastics Treaty will be drafted and ratified in the next two years. 
  1. Union Minister for Jal Shakti Shri Gajendra Singh Shekhawat inaugurated the 2nd edition of the ‘Roorkee Water Conclave’ today at IIT, Roorkee. It is being jointly organised by Indian Institute of Technology, Roorkee and National Institute of Hydrology, focusing on the theme, ‘Water Security for Sustainable Development’. 
  1. India is ranked 3rd in terms of most number of billionaires’ population globally in 2021, as per Knight Frank’s latest edition of The Wealth Report 2022. The number of ultra-high-net- worth-individuals (UHNWIs) in India increased by 11% YoY in 2021 to 145 billionaires, the highest percentage growth in the Asia Pacific (APAC) region. 
  1. The Ministry of Women and Child Development (MoWCD) and NIMHANS Bengaluru launched the ‘Stree Manoraksha Project’ on Wednesday with the goal of improving women’s mental health in India. The project would concentrate on increasing the ability of OSC (One-Stop Center) off1icials in terms of tools and procedures for dealing with women who come to One-Stop Centers, particularly those who have experienced violence and distress, with compassion and care. 
  1. For medical professionals, scientists, and technicians in medical, dental, and paramedical institutes, the Union health ministry has launched the ICMR/ DHR Policy on Biomedical Innovation and Entrepreneurship.” 

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.