CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF FEBRUARY, 2020

  • ABOUT ARTICLE :
    • This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
    • If you think compliance is expensive, try non‐ compliance”
  • COMPLIANCE REQUIREMENT UNDER :
    • Income Tax Act, 1961
    • Goods & Services Tax Act, 2017 (GST)
    • Other Statutory Laws
    • Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
    • SEBI (Listing Obligations &DisclosureRequirements) (LODR) Regulations, 2015
    • SEBI Takeover Regulations 2011
    • SEBI (Prohibition of Insider Trading) Regulations, 2015
    • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
    • SEBI (Buyback of Securities) Regulations, 2018 and Circulars / Notifications
    • Companies Act, 2013 (MCA/ROC and LLP Compliance) and Notifications
    • Investor Education and Protection Fund
    • ICSI Updates on e-CSIN
    • IBC Updates

Compliance requirement under Income Tax act, 1961

      Income Tax Act, 1961        07.02.2020Due date for deposit of tax deducted/collected for the month of January, 2020. (TDS & TCS)   However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan  TDS & TCS
  Income Tax Act, 1961  14.02.2020Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of December, 2019  TDS Certificate u/s 194-IA
  Income Tax Act, 1961  14.02.2020Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of December, 2019TDS Certificate u/s 194-IB
  Income Tax Act, 1961  14.02.2020Due date for issue of TDS Certificate for tax deducted under section 194M in the month of December, 2019  TDS Certificate u/s 194M
  Income Tax Act, 1961  15.02.2020Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of January, 2020 has been paid without the production of a challan  Form 24G
  Income Tax Act, 1961  15.02.2020Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending December 31, 2019    Quarterly TDS certificate

NOTE :

  • Amendment of rule 10DA and rule 10DB regarding furnishing of information and maintenance of documents by Constituent Entity of an international group :

Important Notifications :

  Sl. No.    Particulars of the Notification(s)  Notification Link(s)
 Public consultation on the proposal for amendment of Income-tax Rules 1962, to inset new rule 29BA and Form 15E, to give effect to the amendment in section 195 of the Income-tax Act, 1961 (the Act) vide Finance (No.2) Act 2019  https://www.incometaxindia.gov.in/news/public_consultation_proposal_amendmentitr_1962_misccomm_31_12_19.pdf
 ​Income-tax (1st Amendment) Rules, 2020. Applicable w.e.f.  01.04.2020.  https://www.incometaxindia.gov.in/news/notification_01_2020.pdf
 Income-tax (2nd Amendment) Rules, 2020 Applicable w.e.f. date of their publication in the Official Gazette.  https://www.incometaxindia.gov.in/news/notification_3_2020.pdf
 Notification No. 07/2020 [F. No. 203/02/2019 -ITA-II] / SO 389(E) : Notification No. 07/2020 [F. No. 203/02/2019 -ITA-II] / SO 389(E) !New 28 January 2020  https://www.incometaxindia.gov.in/communications/notification/notification_07_2020.pdf
 Notification No. 05/2020 [F. No. 187/02/2020-ITA-I] / SO 388(E) : Notification No. 05/2020 [F. No. 187/02/2020-ITA-I] / SO 388(E) !New 28 January 2020  https://www.incometaxindia.gov.in/communications/notification/notification_05_2020.pdf
 Notification No. 06/2020 [F. No. 187/02/2020-ITA-I] / SO 387(E) : Notification No. 06/2020 [F. No. 187/02/2020-ITA-I] / SO 387(E) !New 27 January 2020  https://www.incometaxindia.gov.in/communications/notification/notification_06_2020.pdf
 Notification No. 3/2020 [F.No.370142/19/2019-TPL] /GSR 14(E) : Amendment of rule 10DA and rule 10DB regarding furnishing of information and maintenance of documents by Constituent Entity of an international group 6 January 2020  https://www.incometaxindia.gov.in/communications/notification/notification_3_2020.pdf

Compliance  Requirementunder Goods & Services Tax Act,  (GST) 2017 :

  Applicable Laws/Acts    Due Dates  Compliance Particulars  Forms/  (Filing mode)
GST, Act, 2017   
10.02.2020
Form GSTR-7 (TDS Deductor)  GSTR-7
GST, Act, 2017   
10.02.2020
Form GSTR-8 (for the month of January 2020) -TCS Collector (Summary of Tax Collected at Source (TCS) and deposited by E-commerce operators under GST laws)  GSTR – 8  
GST, Act, 2017      11.02.2020Return of outward supplies of taxable goods and/or services for the Month of January 2020 (for Assesses having turnover exceeding 1.5 Cr.) Monthly Return.  GSTR – 1
GST, Act, 2017  13.02.2020Due date for Furnishing return of January 2020 by Input Service Distributors (ISD)GSTR – 6
GST, Act, 2017  20th of the succeedingPayment of self-assessed tax (Payment of tax shall be made by 20th of the month succeeding the month to which the liability pertains.)  PMT-08
GST, Act, 2017  18 months after end of the quarter for which refund is to be claimedApplication for Refund      RFD-10
GST, Act, 2017      20.02.2020Summary of outward taxable supplies and tax payable by Non-Resident taxable person & OIDAR respectively. (for the month of January 2020)    GSTR-5 & GSTR – 5A
GST, Act, 2017  20.02.2020* 22.02.2020* 24.02.2020*  Simple GSTR return for the month of January, 2020  GSTR – 3B
GST, Act, 201718.02.2020Return filed by composition dealer statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter. (October 2019 to December 2019)  CMP – 08
^GST, Act, 2017*03.02.2020 *05.02.2020 *07.02.2020Annual Returns for FY 2017-18   https://twitter.com/cbic_india/status/1223289893587079168?s=20GSTR-9, GSTR-9A & GSTR-9C
GST, Act, 20173 months of the registration cancellation date or order cancellation date, whichever comes late  A taxable person who opts for cancellation of GST registration has to file a final return under GST law in form GSTR-10 within three months.GSTR – 10
GST, Act, 201728th of the month following the month in which an inward supply is received by the UIN holdersStatement of inward supplies by persons having Unique Identification Number (UIN)GSTR – 11

NOTE :

  • *The govt has eased filing of GST returns for taxpayers by allowing them to file in a staggered manner and has provided three dates for different categories of taxpayers.
A) If Turnover > 5Crore:B) If Turnover < 5Crore (in two parts)
Due date of GSTR 3B – 20th every month)i.) 15 States/UT’s: due date is *22nd (every month)  ii.) 22 States/UT’s:  due date is *24th (every month)
(States:- Chhattisgarh, MP, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, TN, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh)(states:-J&K, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, UP, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha)  
  • GST Annual Returns Due date extended :

CBIC (@cbic_india) Tweeted:https://twitter.com/cbic_india/status/1223289893587079168?s=20

Group-1Group-2Group-3
Due Date : 03.02.2020  Due Date : 05.02.2020Due Date : 07.02.2020
States : Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Other TerritoryStates : Jammu and Kashmir, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, GujaratStates : Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Andaman & Nicobar Islands, Jharkhand, Odisha, Chhattisgarh, Dadra and Nagar Haveli and Daman and Diu, Lakshadweep, Madhya Pradesh, Uttar Pradesh
  • KEY UPDATES :
    • New GSTIN reallocated to taxpayers of Union Territory of Ladakh (dated 01.01.2020) :
      • New GSTINs are reallocated to active existing taxpayers registered under J & K State earlier with State code(01), having Principal Place of Business in jurisdiction of Union territory of Ladakh (with UT code “38”). The list contains new GSTINs along with old GSTINs. Taxpayers are requested to use new GSTINs while generating the invoices and receiving of supplies etc. w.e.f. 1st Jan 2020.
      • Link: https://www.gst.gov.in/newsandupdates/read/344
  • GST Updates as on 29.01.2020 :
Sl. No.  Notification(s)Notification No.Link(s)
  1.  Seeks to bring into force certain provisions of the Finance (No. 2) Act, 2019 to amend the CGST Act, 2017.01/2020-Central Tax ,dt. 01-01-2020      http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-01-central-tax-english-2020.pdf
2.Seeks to make amendment (2020) to CGST Rules.02/2020-Central Tax ,dt. 01-01-2020      http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-02-central-tax-english-2020.pdf  
3.Seeks to amend the notification No. 62/2019-CT dt. 26.11.2019 to amend the transition plan for the UTs of J&K and Ladakh  03/2020-Central Tax ,dt. 01-01-2020      http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-03-central-tax-english-2020.pdf
4.Seeks to extend the one-time amnesty scheme to file all FORM GSTR-1 from July 2017 to November, 2019 till 17th January, 2020.  04/2020-Central Tax ,dt. 10-01-2020      http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-04-central-tax-english-2020.pdf
      5.Seeks to appoint Revisional Authority under CGST Act, 2017.  05/2020-Central Tax ,dt. 13-01-2020      http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-05-central-tax-english-2020.pdf  
  6.Seeks to bring into force certain provisions of the Finance (No. 2) Act, 2019 to amend the IGST Act, 2017  01/2020-Integrated Tax,dt. 01-01-2020    http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-1-2020-igst-english.pdf
  • Important Circulars :
Sl. No.Circular (s)File No.Link(s)
  1.F. No. CBEC-20/16/07/2020-GST(Circular no. 131/1/2020)  F. No. CBEC-20/16/07/2020-GST         http://www.cbic.gov.in/htdocs-cbec/gst/circular-cgst-131-new.pdf

Compliance under Other Statutory Laws :

Applicable Laws/Acts  Due Dates  Compliance Particulars  Forms/ (Filing mode)
EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)    15.02.2020PF Payment for January, 2020ECR
ESIC (Employees’ State Insurance Act, 1948)      15.02.2020ESIC Payment for January, 2020ESI Challan
The minimum Wages Act, 1948  01.02.2020Annual ReturnForm – III Rule 21 (4A)  
The Payment of Wages Act,1936 & related Mines Rules    15.02.2020Annual ReturnForm – IV
The Contract Labour 9 (R&A) Act, 1970 & Rules    15.02.2020Annual ReturnForm – XXV

Quick REVIEW on compliance particulars :

Sl. No.Name of the Act(s)Compliance Particulars
1.  Factories Act 1948Annual returns and half year returns submitted on time with correct details   All story statutory registers are maintained   Appointment of Safety Officer, Welfare Officer, if applicable, and its qualification matching as per the act   Canteen, Creche, rest room facilities are available  
2.Contact Labor Act 1970First check if this act is applicable to factory and to contractor. General rule say it is applicable for more than 20 contract workers. But it differs differs from state to state   Principal Employer Registration, all contractor are listed on RC   Contractor have valid License   Contractor have submitted all dues like PF, ESIC, PT, LWF on time.    
3Payment of Gratuity Act 1972:Gratuity are paid to left employees who have completed 5 years   Company have authorised one managerial personnel in  organisation to receive all notice, letter, communication, etc.  
4.Payment of Bonus Act 1965Bonus are paid on time. Returns submitted, register are maintained  
5.Payment of Wages 1936 and Minimum Wages Act 1948:All registers are maintained   Payment of Wages are done on time.   Wages are paid above minimum wages.    

Compliances under FEMA / RBI :

  Applicable Laws/Acts  Due DatesCompliance Particulars  Forms/ (Filing mode)
FEMA ACT 1999Monthly BasisExternal Commercial Borrowings Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’.ECB 2 Return
FEMA ACT 1999Not later than 30 days from the date of issue of shares  After issue of shares or other eligible securities, the Indian company has to fileForm FC-GPR
FEMA ACT 1999With in 60 days from the date of receipt of the amount of consideration.  Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS.Form FC-TRS.
FEMA ACT 1999With in Six (6) months {receive share certificates or any other documentary evidence of investment in the foreign JV / WOS as an evidence of investment and submit the same to the designated AD within 6 months;}An Indian Party and a Resident Individual making an overseas investment is required to submit form ODI (Overseas investments (or financial commitment) in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS))  Form ODI

RBI Circulars / Notifications :

  Sl. No.  Date  Particulars of the CircularsLink
123.01.2020Merchanting Trade Transactions (MTT) – Revised Guidelineshttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11799&Mode=0  
223.01.2020‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt – relaxationshttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11798&Mode=0  
323.01.2020Investment by Foreign Portfolio Investors (FPI) in Debthttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11797&Mode=0
421.01.2020Setting up of IFSC Banking Units (IBUs) – Permissible activitieshttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11794&Mode=0
516.01.2020Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBshttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11790&Mode=0
615.01.2020Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 – Amendmenthttps://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11789&Mode=0

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015 :

  • Filing Mode(s) :
    • For BSE : BSE Listing Centre
    • For NSE : NEAPS Portal
  • Annual Compliances :
  Sl. No.Regulation No.Compliance Particular  Compliance Period (Due Date)  
1Regulation 14Listing fees & other Charges Payment manner as specified by the Board of by Recognised Stock Exchange.   
2Regulation 34* (shall be amended w.e.f. April 2019)  Annual ReportWithin 21 working days from the AGM Date  
    3.Regulation 34(1)(a)  a copy of the annual report sent to the shareholders along with the notice of the annual general meeting not later than the day of commencement of dispatch to its shareholders;Within one days from Dispatch to shareholder  
      4. Annual report in XBRL mode 16 may 2019 BSE CIRCULAR’ https://www.bseindia.com/corporates/Displaydata.aspx?Id=7a3c8414-03fa-4976-8579-db3f8fc8d2bc&Page=cir   XBRL based Compliance filings for Listed Companies at NSE 01 Nov 2019 https://www.nseindia.com/content/equities/NSE_Circular_011119.pdf  Filings in respect of Annual Report has to be done by all listed entities in XBRL mode in addition to the currently used PDF mode mandatorily, for periods ending March 31, 2019.Same time limit of Regulation 34
     5.Regulation 34(1)(b)in the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.  Within 48 hours after AGM
      6.Regulation 36The listed entity shall send annual report referred to in to the holders of securities, not less than twenty-one days before the annual general meeting.21 days Before AGM (in soft or hard copy)
  • Event based Compliances 
  Sl. No.Regulation No.Compliance ParticularCompliance Period (Due Date)  
    1.Regulation 7 (5)Intimation of appointment  / Change of Share Transfer Agent.  Within 7 days of Agreement with RTA.
      2.Regulation 17(2)Meeting of Board of DirectorsThe board of directors shall meet at least 4 times a year, with a maximum time gap of 120 days between any two meetings.  
      3.Regulation 18(2)Meeting of the audit committee  The audit committee shall meet at least 4 times in a year and not more than 120 days shall elapse between two meetings.  
                    4.Regulation 29Notice for Board Meeting to consider the prescribed matters.The Company shall give an advance notice of a) at least 5 days for Financial Result as per Regulation 29 1 (a)   b) in case matters as stated in regulation 29 1 (b) to (f) –  2 Working days in advance(Excluding the date of the intimation and date of the meeting) to Stock Exchange.   c)  11 working days in case matter related to alteration in i) Securities ;ii) date of interest or redemption of Debenture / bond as per regulation 29(3) (a) ,(b).  
5Regulation 30 Outcome of Board Meeting (Schedule III Part A- (4)  within 30 minutes of the closure of the meeting  
            6.Regulation 31      Holding of specified securities and shareholding pattern  Reg. 31(1)(a):1 day prior to listing of its securities on the stock exchange(s);   Reg. 31(1)(c):within 10 days of any capital restructuring of the listed entity resulting in a change exceeding 2 % of the total paid-up share capital.  
                7.Regulation 39Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities.  Reg. 39(2): The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within 30 days from the date of such lodgement.     Reg. 39(2): The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within 2 days of its getting information.  
            8.Regulation 40Transfer or transmission or transposition of securitiesAfter due verification of the documents, the Listed Company shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of 15 days from the date of such receipt of request for transfer:   Transmission  requests are processed for securities held in dematerialized mode and physical mode within 7 days and 21 days respectively, after receipt of the specified documents  
    9.Regulation 43Declaration of Dividend  The company has to declare and disclose the dividend on per share basis only.  
      10Regulation 46Company Website:. Listed entity shall disseminate the information as stated in Regulation 46 (2)  Shall update any change in the content of its website within 2   working days from the date of such change in content.      
        11.Regulation 50Intimation to stock exchange(s).Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.  
      12.Regulation 57Other submissions to stock exchange(s).Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities.  
                13.Regulation 82Intimation and filings with stock exchange(s).Intention to issue new securitized debt instruments either through a public issue or on private placement basis :   Reg. 82(2) : Intimation of Meeting at least  2 working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered  
    14.SCHEDULE III PART A: DISCLOSURES OF EVENTS OR INFORMATION: SPECIFIED SECURITIESEvents which shall be disclosed without any application of the guidelines for materiality as specified in sub-regulation (4) of regulation (30)  (7B) In case of resignation of an independent director of the listed entity, within 7 days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities as mentioned in 7B (i), 7B(ii) & 7B(iii).  
      15.Regulation 106JPeriod of subscription and issue of allotment letter.A rights issue shall be open for subscription in India for a period as applicable under the laws of its home country but in no case less than 10 days.  
      16.Regulation 108Application for Listing.The issuer / the issuing company, shall, make an application for listing, within 20 days from the date of allotment, to one or more recognized stock exchange(s) along with the documents specified by stock exchange(s) from time to time.  
            17.Regulation 23Corporate governance requirements with respect to subsidiary of listed entityThe listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website.  
          18.Regulation 24ASecretarial AuditEvery listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be specified with effect from the year ended March 31, 2019. On or before: 30th day of May (within 60 days from the Closure of FY)  
        19.Regulation 23(9)The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website.  Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 WITHIN 30 days from the date of publication of Financial Results (for half year )    
          20.SEBI CIRCULAR NOV 26, 2018   https://www.sebi.gov.in/legal/circulars/nov-2018/fund-raising-by-issuance-of-debt-securities-by-large-entities_41071.htmlInitial Disclosure to be made by an entity identified as a Large Corporate. Within 30 days  from the beginning of  the FY   Annual Disclosure to be made by an entity  identified as a LC   To be submitted to the Stock Exchange(s) within 45 days of the end of the FY)APRIL 30 Annexure A   MAY 15 Applicable for FY2020and 2021 Annexure B1   MAY 15 Applicable from FY2022 onwards Annexure B2
                        21.Regulation 30 (6) read with Para A of Part A of Schedule III (except sub para 4 of with Para A of Part A of Schedule IIIThe listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information:   Provided that in case the disclosure is made after twenty four hours of occurrence of the event or information, the listed entity shall, along with such disclosures provide explanation for delay Example : Proceedings of Annual and extraordinary general meetings of the listed entity.  24 hours of Occurrence of event
          22.SCHEDULE III PARTA A (SUB CLAUSE 7A)In case of resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor    24 hours of Occurrence of event
          23.SCHEDULE III PARTA A (SUB CLAUSE 7B)In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entitieswithin 7 days from the date of resignation
24.Regulation 37(1)Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time.  Before filling the same with any court or tribunal
25.Regulation 37(1) read with Section 31 of the Insolvency Code,No need to follow Regulation 37 & 94 if restructuring proposal approved as part of a resolution plan by the Tribunal under section 31 of the Insolvency Code, subject to the details being disclosed to the recognized stock exchanges within one day of the resolution plan being approved  within one day of the resolution plan being approved
26.Regulation 42(2)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date. (Refer 42(1) Record date)  7 working days (excluding the date of intimation and the record date)
27.Regulation 44(3)The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.  within 48 hours of conclusion of its General Meeting
28.Regulation 31ARe-classification of status of a promoter/ person belonging to promoter group to public   an application for re-classification to the stock exchanges has been made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting:Not later than 30 days of general Meeting
29.Regulation 50(1) (Debt OR Non-Convertible Redeemable Preference Shares Or Both)Intimation to stock exchange(s). Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.  at least 11 working days
30.  Regulation 50(3) (Debt OR Non-Convertible Redeemable Preference Shares Or Both)The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered.  at least 2 working days in advance, excluding the date of the intimation and date of the meeting
31.Regulation 52 (1) and (2) (Debt OR Non-Convertible Redeemable Preference Shares Or Both)Financial Result The listed entity shall prepare and submit un-audited or audited financial results on a half yearly basis in the format as specified by the Board within forty five days from the end of the half year to the recognised stock exchange(s)  Unaudited: 45 days from half end Audited: 60 days of half end Sumbit The Copy Of Fr To Debenture Trustees On Same Day After Submission To Stock Exchange  
32.Regulation 52(5) (Debt OR Non-Convertible Redeemable Preference Shares Or Both)The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4),ie information submitted with Financial Results submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents.7 working days of FR
33.Regulation 57 (Debt OR Non-Convertible Redeemable Preference Shares Or Both)Other submissions to stock exchange(s). Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities.  within 2 days
34.Regulation 60(2) (Debt OR Non-Convertible Redeemable Preference Shares Or Both)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date. (Refer 60(1) Record date)  7 working days (excluding the date of intimation and the record date)
35.Regulation 78(2) (Obligations of listed entity which has listed its indian depository receipts)  Record date The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record date.  at least 4 working days
36.Regulation 82 (Obligations Of Listed Entity Which Has Listed Its Securitised Debt Instruments)Intimation and filings with stock exchange(s). Intention to issue new securitized debt instruments either through a public issue or on private placement basis :   Reg. 82(2) : Intimation of Meeting at least  2 working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered  At least  2 working days in advance
37.Regulation 87(2) (Obligations of listed entity which has listed its indian depository receipts)  Record date The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date.  at least 7 working days(excluding the date of intimation and the record date)
38.Regulation 87B (Obligations Of Listed Entity Which Has Listed Its Security Receipts)  The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information: Provided that in case the disclosure is made after twenty four hours of occurrence of the event or information, the listed entity shall, along with such disclosures provide explanation for the delay.  24 hours of Occurrence of event
39.Regulation 87E (Obligations Of Listed Entity Which Has Listed Its Security Receipts)Record date The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date.  at least 7 working days (excluding the date of intimation and the record date)

SEBI Takeover Regulations 2011 :

  Sl. No.Regulation No.Compliance Particular  Compliance Period (Due Date)  
1Regulation 30(1)Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of  March, in such target company in such form as may be specified.        Disclosures shall be made within seven (7) working days from the end of each financial year to; 1) every stock exchange where the shares of the target company are listed; and2) the target company at its registered office.   
2 Regulation 30(2)The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may  Disclosures shall be made within seven (7) working days from the end of each financial year to; 1) every stock exchange where the shares of the target company are listed; and2) the target company at its registered office.   
3.Regulation 31(1) read with Regulation 28(3) of Takeover Regulations AUGUST 7, 2019 CIRCULAR https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.htmlThe promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company,within 2 (two) working days

SEBI (Prohibition of Insider Trading) Regulations, 2015 :

  Sl. No.Regulation No.Compliance ParticularCompliance Period (Due Date)  
          1        Regulation 7(2) “Continual Disclosures”Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified;Every company shall notify;within two trading days of receipt of the disclosure or from becoming aware of such information

SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 :

  Sl. No.Regulation No.Compliance Particular  Compliance Period (Due Date)  
      1Schedule XIX – Para (2) of ICDR Read with Reg 108 of SEBI LODR“The issuer shall make an application for listing from the date of allotment, within such period as maybe specified by the Board from time to time, toone or more recognized stock exchange(s)”. In regard to above, it is specified that Issuer shallmake an application to the exchange/s for listingin case of further issue of equity shares from the date of allotment within 20 days (unlessotherwise specified).  Within 20 days from the date of allotment  
2Regulation 162The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment.  Within 18 monts from date of allotment
3SEBI CIRCULAR Aug 19, 2019 https://www.sebi.gov.in/legal/circulars/aug-2019/non-compliance-with-certain-provisions-of-sebi-issue-of-capital-and-disclosure-requirements-regulations-2018-icdr-regulations-_43941.htmlApplication  for trading approval to the stock exchangeListed  entities  shall  make  an  application  for trading approval to the stock exchange/s within 7 working days from the date of grant of listing approval by the stock exchange/s.Within 7 working days from grant of date of listing approval
4Regulation 295(1)Completion of Bonus Issue:   Within 15 days from the date of approval  of the issue by its board of directors – incases where shareholders’ approval for  capitalization  of  profits  or  reserves  for making the bonus issue is not requiredWithin  2  months  from  the  date  of  the  meeting of its board of directors wherein the  decision  to  announce  bonus  issue  was  taken  subject  to  shareholders’ approval  –  in  cases  where  issuer  is  required to seek shareholders’ approval for capitalization of profits or reserves for  making the bonus issue.  Within 15 days from Board Approval ( where shareholder approval is not required)   Within 2 months from Board Approval ( where shareholder approval is required)

SEBI (Buyback of Securities) Regulations, 2018 (Buyback Regulations) :

  Sl. No.  Regulation No.Compliance ParticularCompliance Period (Due Date)  
          1        Regulation 11 and 24(iv)Extinguishment of equity shares in connection with Buyback The  particulars  of  the security certificates  extinguished  and  destroyed shall be furnished by the company to the stock exchanges where the shares or  other  specified  securities  of  the  company  are  listed  within  seven  days  of extinguishment and destruction of the certificates  7 days  of extinguishment and destruction of the certificates
  • SEBI UPDATES :
    • SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2019 (BSE Circular No. LIST/COMP/47/2019-20 dated 02.01.2020)
    • SEBI vide notification no. No. SEBI/LAD-NRO/GN/2019/47 dated 26.12.2019 has amended the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
    • SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (FIFTH AMENDMENT) REGULATIONS, 2019 (BSE Circular No. LIST/COMP/48/2019-20dated 02.01.2020)
    • Securities and Exchange Board of India (SEBI) has on December 26, 2019 vide notification No. SEBI/LAD-NRO/GN/2019/45 notified Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2019.
      • Applicability :
        • They shall come into force on the date of their publication in the Official Gazette.
      • Scope :
    • Annual System Audit of Market Infrastructure Institutions :
      • SEBI had mandated that stock exchanges and depositories should conduct an Annual System Audit by a reputed independent auditor. Subsequently, the framework was also extended to clearing corporations.
    • Market Infrastructure Institutions are advised :

SEBI Circulars / Regulations– January, 2020 :

  Sl. No.  Date& Circular / Regulation No.Particulars of the CircularsLink
1Jan 01, 2020 Regulations – No.SEBI/LAD-NRO/GN/2018/31Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 [Last amended on January 01, 2020]All circulars are available at   https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListingAll=yes&sid=1&ssid=0&smid=0
2Jan 01, 2020 Regulations- No. SEBI/LAD-NRO/GN/2020/1Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Seventh Amendment) Regulations, 2019
3Jan 03, 2020 Circular No.: SEBI/HO/MRD2/DCAP/CIR/P/2020/01Contribution by a non-defaulting member in the Default waterfall of Clearing Corporations                        
4Jan 03, 2020 Circular No.: SEBI/HO/MIRSD/CRADT/CIR/P/2020/2Strengthening of the rating process in respect of ‘INC’ ratings
5.Jan 07, 2020 Circular No.: SEBI/HO/MRD1/ICC1/CIR/P/2020/03Annual System Audit of Market Infrastructure Institutions
6Jan 09, 2020 Circular No.: SEBI/HO/IMD/DF1/CIR/P/2020/04Operating Guidelines for Investment Advisers in International Financial Services Centre
7Jan 10, 2020 Regulations- No.SEBI/LAD-NRO/GN/2015-16/013Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [Last amended on January 10, 2020]  
8Jan 10, 2020 Regulations- No. SEBI/ LAD-NRO/GN/2020/02Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2020  
9Jan 16, 2020 Circular No.: SEBI/HO/CDMRD/DMP/CIR/P/2020/05Options in Goods – Product Design and Risk Management Framework  
10Jan 16, 2020 Circular No.: IMD/FPI&C/CIR/P/2020/07Exemption from clubbing of investment limit for foreign Government agencies and its related entities  
11Jan 16, 2020 Regulation: No.SEBI/LAD-NRO/GN/2020/03  Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020  
12Jan 17, 2020 Circular No.: SEBI/HO/DDHS/08/2020Format for Statement indicating Deviation or Variation in the use of proceeds of issue of listed non-convertible debt securities or listed non-convertible redeemable preference shares (NCRPs)  
13Jan 17, 2020 Circular No.: SEBI/HO/DDHS/DDHS/CIR/P/2020/09  Guidelines for rights issue of units by a listed Real Estate Investment Trust (REIT)  
14Jan 17, 2020 Circular No.: SEBI/HO/DDHS/DDHS/CIR/P/2020/10  Guidelines for rights issue of units by a listed Infrastructure Investment Trust (InvIT)  
15Jan 22, 2020 Circular No.: SEBI/HO/CFD/CMD/CIR/P/2020/12Non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Standard Operating Procedure for suspension and revocation of trading of specified securities  
16Jan 22, 2020 Circular No.: SEBI/HO/CFD/DIL2/CIR/P/2020/13  Streamlining the process of Rights Issue  
17Jan 27, 2020 Circular No.: SEBI/HO/CDMRD/DRMP/CIR/P/2020/15  Review of Margin Framework for Commodity Derivatives Segment  
1828 January, 2020 Circular No.: SEBI/HO/MRD/DDAP/CIR/P/2020/16  IPF Trust and Committees at Market Infrastructure Institutions (MIIs)  

Circulars to listed Companies – January, 2020 :

  Sl. No.  DateParticulars of the CircularsLink
102.01.2020Securities And Exchange Board Of India (Issue Of Capital And Disclosure Requirements) (Sixth Amendment) Regulations, 2019https://www.bseindia.com/corporates/Displaydata.aspx?Id=de28b13f-bb4b-4414-8446-43b7bced0fea&Page=cir  
202.01.2020Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) (Fifth Amendment) Regulations, 2019https://www.bseindia.com/corporates/Displaydata.aspx?Id=7436aa12-d1a9-4186-8f4a-ce0b640413e7&Page=cir  
  3  13.01.2020Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) (Amendment) Regulations, 2020  https://www.bseindia.com/corporates/Displaydata.aspx?Id=95345369-ccf5-4f34-bf96-e3a15353c2db&Page=cir  
415.01.2020Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions and unlisted debt securitieshttps://www.bseindia.com/corporates/Displaydata.aspx?Id=1a59c887-b53c-485a-9748-01a5600f9da7&Page=cir  
517.01.2020Guidelines for rights issue of units by a listed Real Estate Investment Trust (REIT)https://www.bseindia.com/corporates/Displaydata.aspx?Id=76accbad-3781-4b2f-b346-10f8e2f46bf8&Page=cir  
617.01.2020Format for Statement indicating Deviation or Variation in the use of proceeds of issue of listed non-convertible debt securities or listed non-convertible redeemable preference shares (NCRPs)https://www.bseindia.com/corporates/Displaydata.aspx?Id=ed89b5fa-b3a2-4382-8d3e-e46d934fc486&Page=cir
717.01.2020Guidelines for rights issue of units by a listed Infrastructure Investment Trust (InvIT)https://www.bseindia.com/corporates/Displaydata.aspx?Id=9727ea6a-d150-4eb8-8410-886624898a50&Page=cir  
820.01.2020Updationof Information on Bse Website  https://www.bseindia.com/corporates/Displaydata.aspx?Id=57754029-5245-43d9-ac95-df13e5b22c61&Page=cir  
922.01.2020Non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Standard Operating Procedure for suspension and revocation of trading of specified securities  https://www.bseindia.com/corporates/Displaydata.aspx?Id=a9c916ac-5d90-4e1e-9632-66bec78566e6&Page=cir
    10    23.01.2020Streamlining the Process of Rights Issue  https://www.bseindia.com/corporates/Displaydata.aspx?Id=46d2d8c4-4420-4eb8-b3ca-6e5493dc5389&Page=cir  
    11    27.01.2020  CLARIFICATION REGARDING UPDATION OF INFORMATION ON BSE WEBSITE  https://www.bseindia.com/corporates/Displaydata.aspx?Id=a5a26e3a-e9f9-468d-a303-c965296678cf&Page=cir  

Compliance Requirement UNDER Companies Act, 2013 and Rules made there under :

  Applicable Laws/Acts  Due DatesCompliance ParticularsForms / Filing mode
  Companies Act, 2013  Within 180 Days From The Date Of Incorporation Of The CompanyAs per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC. http://www.mca.gov.in/Ministry/pdf/CompaniesFourthAmendmentRules_19122018.pdf  MCA E- Form INC 20A
Companies Act, 2013  First declaration within 90 days from the date of notification Dt. 08.02.2019   ( i.e.  On or before 8th of May, 2019)A person having Significant beneficial owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019   In case Subsequent Acquisition of the title of Significant Beneficial Owner  / Any  Change thereina declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.  Form BEN-1 Draft Format available at https://enlightengovernance.blogspot.com/2019/07/draft-format-for-ben-1-sbo-rules-2018.html
Companies Act, 2013  31.03.2020   (Due Date Extended From 30.09.2019 to 31.12.2019 and further extended to 31.03.2020Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018. (Within 30 days from deployment of the E –form (earlier the date of receipt of declaration in BEN-1 ) http://www.mca.gov.in/Ministry/pdf/GeneralCircular_24092019.pdf BEN -2 due date extended till 31.03.2020 Circulars Link: http://www.mca.gov.in/Ministry/pdf/Circular1_01012020.pdfForm BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019
Companies Act, 2013  On or before 15.06.2019 (form can be filed after due date with a fee of Rs. 10000 (one time fee)Filing of the particulars of the Company & its registered office. (by every company incorporated on or before the 31.12.2017.) Due date extended- Link : http://www.mca.gov.in/Ministry/pdf/CompaniesRegistrationOfficesFeesRule_25042019.pdf  Active Form INC -22A
Companies Act, 2013  14.10.2019 (can be filed after due date with a penalty of Rs. 5000/-)*DIN KYC through DIR 3 KYC Form is an Annual Exercise. Last date for filing DIR-3 KYC for Financial year 2018-19 has been extended till 14th November 2019 http://www.mca.gov.in/Ministry/pdf/Companies5thAmendtRules_30092019.pdf and http://www.mca.gov.in/Ministry/pdf/Companies4thAmendtRules_30092019.pdf Annual Exercise: http://www.mca.gov.in/Ministry/pdf/DIR3KYCcompleteMessage_13042019.pdf Penalty after due date is Rs. 5000/-(one time)E-Form DIR – 3 KYC (Web Based and E-form)  
Companies Act, 2013  within 60 days from the date of deployment of this form on the website of the Ministry.Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014 To be filed all unlisted companies, deemed public companies Till further clarification to be filled in GNL-2 Applicable w.e.f.  30.09.2019 http://www.mca.gov.in/Ministry/pdf/Rules_23052019.pdf Extension Notification: http://www.mca.gov.in/Ministry/pdf/FormPAS6_28112019.pdfE-Form PAS – 6 (E-Form, Not yet deployed)
Companies Act, 2013On or before 31.12.2019Statement of Amounts credited to Investor Education and Protection Fund Pursuant to Rule 5(4A)  IEPF Form – 1A
Companies Act, 201390 days from the date of deployment of this form on the website of  (NFRA).Annual Return To Be Filed By Auditor With The National Financial Reporting Authority http://www.mca.gov.in/Ministry/pdf/NFRA_27112019.pdfNFRA-2 (form not yet deployed)

Due dates of ROC Return Filings :

Sl. No.  ParticularsDue DateE- Form
  1Appointment of AuditorWithin 15 days from the conclusion of AGM (ratification at every annual general meeting is not mandatory)    ADT-1
      2Filing of financial statement and other documents with the ROCOn or before 30.11.2019 (due date extended) With in 30 days from the conclusion of the AGM, other than OPC (In case of OPC within 180 days from the close of the financial year)        AOC-4*
  3Filing of annual return by a company.On or before 31.12.2019 (due date extended) With in 60 days from the conclusion of AGM    MGT-7*
      4Filing of Cost Audit Report with the Central Government    *On or before 29.O2.2O2O. (due date extended)   With in 30 days from the receipt of Cost Audit Report  CRA-4*
  5Filing of Resolutions and agreements to the Registrar  With in 30 days from the date of Board Meeting.  MGT-14
  • NOTE :
    • *Relaxation of additional fees and extension of last date in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act, 2013- UT of J&K and UT of Ladakh –
      • extension of time for filing of financial statements for the financial year ended 31.03.2019. Therefore, it has been decided to extend the due date for filing of e-forms AOC-4, AOC-4 (CFS) AOC-4 XBRL and e-form MGT-7 upto 31.01.2020, for companies having jurisdiction in the UT of J&K and UT of Ladakh without levy of additional fee.’
    • *Relaxation of additional fees and extension of last date of filing of CRA-4 (cost audit report for FY 2018-19 under the Companies Act, 2O13 
    • Relaxation of additional fees and extension of last date of filing of AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS) for FY 2018-19 under the Companies Act, 2013 –
      • MCA vide general circular No. 02/2020 dated 31.01.2020 has introduced two new forms on MCA Portal.
        • AOC – 4 NBFC (Ind AS) : deployed w.e.f. 31.01.2020
        • AOC – 4 CFS NBFC (Ind AS) : deployed w.e.f. 17.02.2020
    • And it has been to extend the last date for filing AOC-4 NBFC (Ind AS) and AOC-4 CFS NBFC (Ind AS) for all eligible Companies for the FY 2018-19 without additional fees till 31st March, 2020.
    • Link: http://www.mca.gov.in/Ministry/pdf/Circular_30012020.pdf

Due dates of LLP Return Filing :

  • LLP Form 8 (Statement of Account & Solvency) on or before 30.10.2019
  • The charge details i.e. creation, modification or satisfaction of charge, can be filed through Appendix to e-Form 8 (Interim)
  • Form LLP -8 can be filed after due date i.e. 30.10.2019 with a penalty of Rs. 100/- per day till the filing is completed.

MCA UPDATES :

  Sl. No.  Particulars of the CircularsLink
1Relaxation of additional fees and extension of last date of filing of CRA-4 (cost audit report) for FY 2018-19 under the Companies Act, 2013http://www.mca.gov.in/Ministry/pdf/Circular17_30122019.pdf
2Extension for filing BEN-2http://www.mca.gov.in/Ministry/pdf/Circular1_01012020.pdf  
3Companies (appointment and managerial personnel) Amdt Rules 2020http://www.mca.gov.in/Ministry/pdf/AmdtRules_06012020.pdf  
4Insolvency and Bankruptcy Code(Amendment) Ordinance, 2019http://www.mca.gov.in/Ministry/pdf/IBCAmedBill_20012020.pdf  
5Companies (Winding Up) Rules 2020http://www.mca.gov.in/Ministry/pdf/Rules_28012020.pdf  
6Relaxation of additional fees and extension of last date of filing of AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS) for FY 2018-19 under the Companies Act, 2013  http://www.mca.gov.in/Ministry/pdf/Circular_30012020.pdf
7extend the due date for filing of e-forms AOC-4, AOC-4 (CFS) AOC4 XBRL and e-form MGT-7 upto 31.03.2020, for companies having jurisdiction in the UT of J&K and UT of Ladakh without levy of additional fee.http://www.mca.gov.in/Ministry/pdf/Circular_31012020.pdf
8Provisions of section 460 of the Companies Act, 2013 (18 of 2013) shall apply to a LLPhttp://www.mca.gov.in/Ministry/pdf/NotificationLLP_31012020.pdf
  • MCA Update on Spice+ :
    • Due to the proposed changes to the RUN web service (for companies), RESUBMISSION OPTION for name reservation SHALL NOT BE AVAILABLE    for forms processed by CRC from 1st Feb 2020 ONWARDS for    approximately 15 days. Hence, stakeholders are advised to EITHER AWAIT DEPLOYMENT OF SPICe+ AND THEN APPLY FOR NAMES through SPICe+ web form or perform due diligence while submitting any application in existing RUN web service for name reservation. RUN applications (for companies) processed w.e.f  1st February 2020 onwards shall either be   approved or rejected based on checks performed by CRC officers. Stakeholders may kindly note and plan accordingly.
    • (i) Stakeholders may please note that as part of Government of India’s Ease of Doing Business(EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICePlus’) replacing the existing SPICe form.
    • SPICe+ would be an integrated Web form offering multiple services viz. name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. It will also facilitate allotment of GSTIN wherever so applied for by the Stakeholders. After deployment of SPICe+ web form, RUN shall be applicable only for change of name of existing companies.
    • Upon notification & deployment, all new name reservations for new companies as well as new incorporations shall be applied through SPICe+ only
    • However, incorporation of companies for names reserved through the existing RUN service shall continue to be filed in the existing SPICeeform along with related linked forms as applicable and if marked under resubmission shall be resubmitted in SPICeeform.
    • Resubmission of SPICe forms submitted prior to date of deployment of SPICe+ web form shall also be filed in the existing SPICeeform and related linked forms as applicable.

Investor Education and Protection Fund :

  • MINISTRY OF CORPORATE AFFAIRS on 14.08.2019 has came up with Investor Education and Protection Fund Authority (Accounting, Audit, Transperant Refund)Second Amendment Rules, 2019 :
    • Applicability :
      • The provisions of these rules, Other than rule 6 (i), 6 (iv), 6 (v), 6(vi), 6(vii) and 6 (viii), shall come into force with effect from the 20th day of August, 2019.
      • The provisions of rule 6 (i), 6 (iv), 6 (v), 6(vi), 6(vii) and 6 (viii), shall come into force with effect from the 20th day of September, 2019.
      • Following E-forms revised after these rules:
Sl. No.Form No.Particulars of the formUpdated on
1.IEPF Form -1Statement of amounts credited to Investor Education and Protection Fund    20.08.2019
2IEPF Form – 1AStatement of Amounts credited to Investor Education and Protection Fund Pursuant to Rule 5(4A)  20.08.2019
3IEPF Form – 2Statement of unclaimed and unpaid amounts20.08.2019
4IEPF Form – 4Statement of shares transferred to the Investor Education and Protection Fund20.08.2019

Source: http://www.mca.gov.in/Ministry/pdf/IEPFRules_19082019.pdf

  • As part of the revised Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund)Second Amendment Rules, 2019 dated 14th August 2019, Form IEPF-5 is introduced as a web form instead of the existing e- Form w.e.f 20th September 2019.
  • Form IEPF -5: Application to the Authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund (IEPF)
  • form IEPF-5 Pending E- verification report as on 25-Dec-2019

http://www.iepf.gov.in/IEPF/pdf/IEPF5WEBFORM_26122019.xls

  • Kindly note that :
    • Relaxation of additional fees and extension of last date of filing of form IEPF – 1A and Form IEPF -2 :

The Institute of Company Secretaries of India (ICSI) Updates :

This article is updated till 31stJanuary, 2020 with all Laws / Regulations and their respective amendments.

AUTHOR : CS LALIT RAJPUT (CLICK HERE TO VIEW PROFILE)