Latest Corporate News, Information, Notifications & Announcements [Period 21/11/22 to 28/11/22]

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 – FA

1. SEBI Updates:

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1SEBI Bulletin – November 2022 [MSWord]   [MSExcel]Click Here
2Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2022  Click Here
3Public Notice- Extension of the SEBI Settlement Scheme, 2022Click Here
  4Extension of Timeline for Submission of Public Comments on the Consultation Paper on Cloud Framework  Click Here
5Circular – Schemes of AIFs which have adopted priority in distribution among investorsClick Here
6Issue of Green Debt Securities by an issuer under Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015  Click Here
7Reporting of trades in Non-convertible Securities – Chapter XVI of Operational Circular issued under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021    Click Here
  8Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2022  Click Here
9Timelines for transfer of dividend and redemption proceeds to unitholdersClick Here
10Extension of timelines for implementation of SEBI circulars SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 and SEBI/HO/MIRSD/ DoP/P/CIR/2022/119  Click Here
11Framework to address the ‘technical glitches’ in Stock Brokers’ Electronic Trading SystemsClick Here

2. MCA – 21 Updates

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  1Companies (Registered Valuers and Valuation) Amendment Rules, 2022    Click Here
2Claim Notice of M/s Pure Drinks (New Delhi) Ltd (in Prov. liquidation)  Click Here
3Uttar Pradesh To Register Maximum Number of New Companies After Maharashtra Post Covid  Click Here
4Companies struck off register by MCA up 90% from pre-pandemic levelClick Here
5India Inc worried over lower deal value limit under competition billClick Here

3.  RBI / Banks Updates

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1Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24                           Click here
2Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information Provider under Account Aggregator Framework        Click here
3Basel III Framework on Liquidity Standards – Standing Deposit Facility   Click here
4Result of Yield Based Auction of State Government Securities       Click here
5.Reserve Bank of India – Bulletin Weekly Statistical Supplement – ExtractClick here
6.All-India House Price Index (HPI) for Q2:2022-23  Click here
  7.Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on November 30, 2022 (Series I of SGB 2015)  Click here

4. IBC / Insolvency Law updates

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1In the matter of Mr. Sunil Kumar Agarwal, Insolvency ProfessionalClick here
2Circular- Credit of fee by IPs & IPEs in IBBI accountClick here
3In the matter of Mr. Anuj Kumar Tiwari, Insolvency ProfessionalClick here
4Tweaking IBC to facilitate recoveryClick here

5. Labour law updates

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1Amazon to wind down online learning vertical in India as demand falters post pandemic  Click here
  2What if govt raises cap on Employees’ Provident Fund Organisation (EPFO) wage ceiling  Click here
  3Centre likely to raise wage threshold for EPFO’s flagship retirement saving schemeClick Here
4How to transfer EPF account onlineClick Here
5SC verdict on EPF pension scheme a mixed bag, grey areas remain: PetitionersClick Here

6. Press information

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1Centre launches framework for safeguarding and protecting consumer interest from fake and deceptive reviews in e-commerce  Click here
2India takes over as Council Chair of Global Partnership on AI (GPAI)Click here
3The removal of export duties on steel and stainless steel will strengthen that sector of the economy: Jyotiraditya ScindiaClick here
4Repayment of ‘6.84% GS 2022’-Issue of Press CommuniqueClick here
5As part of the Prime Minister’s commitment to accord highest priority towards employment generation, Rozgar Melas  organized at 45 locations across the countryClick here
6Reforms in Ayush sector to boost growth: Shri Sarbananda SonowalClick here
7Startup India launches Startup applications for MAARG PortalClick here
8JNPA inaugurates Continuous Marine Water Quality Monitoring StationClick here
  9C-DOT organises three-day ‘National Workshop on Cryptology’, in association with Cryptology Research Society of India and IEEE Communications Society – Delhi Chapter  Click here
10Verify Aadhaar before accepting it as a proof of identity: UIDAIClick here
11India strengthens the CITES protection to Leith’s Soft-shelled TurtleClick here
12Cyber Jaagrookta Campaign organised by the Department of Legal AffairsClick here
  13National Education Society for Tribal Students (NESTS) collaborated with National Institute of Fashion Technology (NIFT), to organize a Career Counselling workshop for EMRS students  Click here
14India stands for free & rules-based Indo-Pacific crucial for economic development of the region & wider global community, says Raksha Mantri at Indo-Pacific Regional Dialogue in New DelhiClick here
  15Union Minister for Rural Development Shri Giriraj Singh says, any violence against women should not be seen through the prism of religion and it should be condemned outrightly by all without any prejudices  Click here

7. IPO & investment Section

Issuer CompanyExchangeOpenCloseIssue Price (Rs)Issue Size (Rs Cr)
Uniparts India Limited IPOBSE, NSENov 30, 2022Dec 02, 2022548.00 to 577.00835.61
Dharmaj Crop Guard Limited IPOBSE, NSENov 28, 2022Nov 30, 2022216.00 to 237.00251.15
Baheti Recycling Industries Limited IPONSE SMENov 28, 2022Nov 30, 202245.0012.42
Pritika Engineering Components Limited IPONSE SMENov 25, 2022Nov 30, 202229.009.42
  • Key Updates in Brief {Source- ET, BS etc.}

1. IPOs in India likely to gain more traction amid high-interest rates

The year 2021 saw a blockbuster run of IPOs in India. Primary markets witnessed an all-time high number where 64 companies raised 1.19 lakh crores through initial public offering. The pace has slowed down ever since. Will we see companies going for IPOs anytime soon? Is this the right time to invest in IPOs? We’ll try to answer all your questions in this article.

Before jumping into any statistics, let’s discuss what the macroeconomic situation has been over the last 10 months. The economy has witnessed a roller coaster ride of events, from the Russia-Ukraine War to skyrocketing inflation, markets have seen it all. High commodity prices have hit companies’ margins all over the world.

Indian retail was underpenetrated till now and it still is to some extent. But the above data reflects the increased appetite of investors. SIP inflows have surged to almost 15,000 crores per month, according to the latest data released by the Association of Mutual Funds in India.

Healthy growth in such indicators coupled with international organizations like IMF predicting the highest GDP growth for India amongst the large economies augurs well for the national economy.

The abundance of capital coupled with feasible government policies has made India a good investment destination. New-age businesses and SMEs are rapidly moving to the growth stage with greater shifts on profitability and outlook along with business differentiation.

The economy is thriving, and we are hopeful that India would witness a greater number of unicorns in the coming years. We’re truly on the path of becoming self-reliant, in terms of production as well as investments.

2. Go Digit General Insurance’s IPO gets IRDAI’s go-ahead: Reports

The Insurance Regulatory and Development Authority of India (IRDAI) has given its go-ahead to Fairfax-backed Go Digit General Insurance Ltd’s Rs 1,250 crore-initial public offer (IPO), according to reports.

In August, the general insurance firm filed draft papers seeking approval from the Securities and Exchange Board of India (SEBI) to go public. The capital markets regulator had sent a written back to the investment bankers handling the IPO for certain clarifications in October and is awaiting a response.

Cricketer Virat Kohli and his wife actor Anushka Sharma are among the investors in the firm, according to the draft papers. IndiaFirst Life Insurance has also received the insurance regulator’s consent for its Rs 500 crore IPO.

3. Five Star Business may face pressure after tepid listing

Chennai-headquartered non-banking finance company (NBFC) Five Star Business Finance made a tepid stock market debut on Monday with the stock listing at a discount of 5% at ₹449.95 on BSE. However, the stock gained as much as 14% during the day to ₹539.95 before closing 3.27% higher at ₹489.50.

The company’s ₹1,960-crore IPO was sold in the range of ₹450-474 per share between November 9 and November 11. Only 70% of the IPO was subscribed but the issue sailed through as it met the criteria set by the Securities and Exchange Board of India for an IPO.

“The Five Star Business Finance stock is expected to remain under sell-off pressure in the upcoming sessions. My suggestion to the allottees is to exit on rise and look at other stocks that are better placed in current market scenario,” said Ravi Singhal, CEO at brokerage GCL.

8. IRDAI- insurance updates

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1Ayushman Bharat Digital Mission (ABDM) adoption by DoctorsClick Here
  2Exposure draft- IRDAI (Payment of Commission) Regulations, 2022Click here
3IRDAI (EOM of Insurers Transacting Life Ins Business) Regulations, 2022Click here
4IRDAI(Re-insurance) (First Amendment) Regulations, 2022Click here
5Press ReleaseClick here

9. Department of Telecommunications (dot)

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1TRAI notifies Amendments to the Regulatory Framework for Broadcasting and Cable ServicesClick here
  2India calls on GPAI member states to work together to come up with framework to prevent user harmClick here
  3TRAI releases “Indian Telecom Services Performance Indicator Report” for the Quarter April-June, 2022Click Here
    4PIB Chennai press release reg. busting of illegal telecom setups in Chennai district on 23.11.22 by team of officers from DoT TN LSA, Law Enforcement Agency incl. TN Police and BSNL.  Click here
      5National Broadband Mission, an initiative by @DoT_India iss committed to enable fast track growth of digital communication infrastructure. Universality, Affordability and Quality are the Mission Principles of  @NBM_DoT  Click here

10. msme / SME updates

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1Reforms in MSME SectorClick here
2Suresh Mansharamani Shares Insights of His OKR Strategy Revolutionizing the MSMEs of India!  Click here
3How KYC compliance and capacity building can benefit MSME sector with cybersecurity, stop online fraudClick here
4MSME owners, workers observe one-day fast in Coimbatore over power tariff hikeClick here

11. Competition Commission of India (CCI)

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1Worried Google brass flags CCI orders a ‘priority’ issue­ Click here
  2Centre mandates CCI to check GST-related profiteeringClick here
  3CCI approves Ontario Teachers’ Pension Plan Board-Mahindra Susten dealClick here
4Competition watchdog CCI to handle GST profiteering complaints from next monthClick here

12. Cabinet Decisions / New Acts

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1Uttarakhand Cabinet Decisions: HC To Be Shifted To Haldwani, Forced Conversion Law Made StringentClick here
2Uttar Pradesh cabinet gives nod to Naimisharanya Board, airport-like infra for 23 bus stations  Click here
  3Rajasthan Cabinet approves rural tourism scheme, homeless upliftment, rehabilitation policy  Click here
4Chhattisgarh Approves Draft Bills On Quota, To Be Tabled On Dec 1-2Click here
5Liquor, milk prices to go up in Kerala as Cabinet approves enabling proposalsClick here

13. Current Affairs Quiz (taken from various sources) 

Sl.QuestionsAnswers  
1What is the name of the official mascot of Qatar World Cup 2022?La’eeb
2Who has been honoured with Peace Prize by Gandhi Mandela Foundation?Dalai Lama
3Which forum has launched the “Loss and Damage fund” to support poorer countries?COP-27
4Who inaugurated ECI’s 2-day international conference?Sh. Rajiv Kumar
5Who has been named the Indian Film Personality of the Year at IFFI 2022?Chiranjeevi
6Which country’s Parliament has passed Free Trade Agreement with India?Australia
7India is set to unveil ‘Young Professionals Scheme’ with which country?UK
8‘Respect for Marriage Act’ is associated with which country?USA
9Donyi Polo Airport has been inaugurated in which state/ UT?Arunachal Pradesh
10Which state hosted the 2nd edition of North East Olympic Games in 2022?Meghalaya

Top 5 Current Affairs:

  • National Commission for Women (NCW) launched the fourth phase of Digital Shakti Campaign, to make women aware to stand against any illegal or inappropriate online activity. It is a pan-India project on digitally empowering and skilling women in cyberspace.
  • Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust). The trust is responsible for managing funds under the National Pension System (NPS).
  • The government has appointed senior economist Dr Arvind Virmani as a full-time member of the NITI Aayog. He was the founder-chairman of the non-profit public policy organisation ‘Foundation for Economic Growth and Welfare’. He has also served as the Chief Economic Advisor in the Ministry of Finance from 2007-09.
  • Bharat Electronics signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for jointly developing the Indigenous Communication-based Train Control System (i-CBTC), an important milestone in India’s journey towards self-reliance in Rail and Metro operations.
  • Vostro account is the name of the account that a bank holds on behalf of another, often a foreign bank. The Union government has given approval to nine banks to open special Vostro accounts, three months after the Reserve Bank of India allowed trade settlement in Indian rupees.

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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