WEEKLY CORPORATE AFFAIRS FROM 28.02.2024 TO 05.03.2024
Newsletter Contents:
- SEBI Updates
- MCA Updates
- RBI Updates
- IBC Updates
- Labour Law Updates
- Press Information
- IPO & Investment updates
- IRDAI Updates
- Department of Telecommunications
- MSME Updates
- Competition Commission of India
- Current Affairs – FAQ’s
- SEBI Updates:
| [Sl. | Particulars | Link |
| 1 | Warning letter issued to advancetrading.co (Proprietor Mr. Mohd Shahrukh Qureshi) | Click Here |
| 2 | Informal Guidance request received from K.J Joseph and Thomas John in relation to the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 | Click Here |
| 3 | Settlement Order in the Matter of Lotus Chocolate Company Limited | Click Here |
| 4 | Settlement Order in the matter of FPIs not meeting the eligibility criteria prescribed under SEBI (FPI) Regulations | Click Here |
| 5 | Unserved Hearing Notice, dated March 1, 2024, issued to Jitendra Bharbhuja (Proprietor of Maxx Innovation) in the matter of Maxx Innovation and Maxx Innovation Growth. | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | Chinese companies under corporate affairs ministry’s scanner for links to loan apps | Click Here |
| 2 | Exclusive: MCA to complete probe into Hero MotoCorp, MG Motor by June | Click Here |
| 3 | Corporate Affairs Ministry to release new regulations for unlisted startups in three months | Click Here |
3. RBI / Banks Updates
| Sl. | Particulars | Link |
| 1 | RBI may undertake comprehensive review of architecture of payment banks | Click Here |
| 2 | Review of Guidelines – Withdrawal of Circulars | Click here |
| 3 | Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 | Click here |
| 4 | Capital Adequacy Guidelines – Review of Trading Book | Click here |
| 5 | Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 | Click here |
| 6 | Amendment to Master Direction on Prepaid Payment Instruments | Click here |
| 7 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 8 | Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 | Click here |
| 9 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 10 | RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on March 04, 2024 | Click here |
4. IBC / Insolvency Law updates
| Sl. | Particulars | Link |
| 1 | Approval of Resolution Plan – Brick Eagle Group Private Limited [IA. No. 3349-2022 in CP(IB)No. 1845-MB-C-II-2019] | Click here |
| 2 | Approval of Resolution Plan – Shimita Trading Private Limited [I.A. 2729-2022 in C.P. No. (IB) 2510-MB-C-III-2019] | Click here |
| 3 | Approval of Resolution Plan – Blue Frog Media Private Limited [IA No. 2828 of 2021 in CP (IB) No. 4360-MB-C-I-2018] | Click here |
| 4 | In the matter of Mr. Shashi Agarwal, IP | Click here |
| 5 | Approval of Resolution Plan – Chiraayush Stock Consultants Pvt. Ltd. [IA No. 222-JPR-2021 in CP No. (IB)-266-10-JPR-2019] | Click here |
| 6 | Approval of Resolution Plan – Reliance Capital Limited [IA No. 2949 of 2023 in CP (IB) No. 1231 of 2021] | Click here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | Mohali: ESIC fined for not reimbursing full mediclaim amount to beneficiary | Click here |
| 2 | Medical Benefits to be extended to superannuated Insured Persons with relaxed norms | Click here |
| 3 | Those who have chosen option of higher PF pensions receive less amounts | Click here |
| 4 | PF Employees Rejoice! Understanding the Enhanced EPS Pension Scheme in India | Click here |
6. Key Press information
| Sl. | Particulars | Link |
| 1 | Reforms initiated in 2014 transform coal sector, making it more efficient, transparent, investor-friendly and ensuring coal’s vital role in nation’s economic growth and energy security | Click here |
| 2 | PFRDA notifies amendments to Retirement Adviser (RA) regulations for Good Governance and ease of compliance | Click here |
| 3 | DPIIT and World Bank jointly organise National Workshop on Logistics Efficiency Enhancement | Click here |
| 4 | Historic Resolution on Promoting Sustainable Lifestyles | Click here |
| 5 | Registration of newspapers and periodicals goes online through Press Sewa Portal; | Click here |
| 6 | Swachhata Green Leaf Rating Initiative All Set To Revolutionize India’s Burgeoning Tourism Industry With World-Class Hygiene & Sanitation Facilities For Tourist & Promote Sustainable Tourism | Click here |
| 7 | REC Limited joins hands with UNISED to support Education of Children in Siddharthnagar, Uttar Pradesh | Click here |
| 8 | Prime Ministerto dedicate to the nation and lay foundation stone for NTPC’s Power Projects worth more than Rs. 30,000 crores | Click here |
7. IPO & investment Section
| Issuer Company | Open Date | Close Date | Listing Date | Issue Price (Rs) | Issue Size (Rs Cr.) | Lot Size | Exchange |
| Pratham EPC Projects Limited IPO | Mar 11, 2024 | Mar 13, 2024 | Mar 18, 2024 | 71.00 to 75.00 | 37.50 | 1,600 | NSE SME |
| Pune E-Stock Broking Limited IPO | Mar 07, 2024 | Mar 12, 2024 | Mar 15, 2024 | 78.00 to 83.00 | 38.23 | 1,600 | BSE SME |
| Gopal Snacks Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 381.00 to 401.00 | 650.00 | 37 | BSE, NSE |
| Shree Karni Fabcom Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 220.00 to 227.00 | 42.49 | 600 | NSE SME |
| Koura Fine Diamond Jewelry Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 55.00 | 5.50 | 2,000 | BSE SME |
| JG Chemicals Limited IPO | Mar 05, 2024 | Mar 07, 2024 | Mar 13, 2024 | 210.00 to 221.00 | 251.19 | 67 | BSE, NSE |
| Sona Machinery Limited IPO | Mar 05, 2024 | Mar 07, 2024 | Mar 13, 2024 | 136.00 to 143.00 | 51.82 | 1,000 | NSE SME |
| R K SWAMY Limited IPO | Mar 04, 2024 | Mar 06, 2024 | Mar 12, 2024 | 270.00 to 288.00 | 423.56 | 50 | BSE, NSE |
| V R Infraspace Limited IPO | Mar 04, 2024 | Mar 06, 2024 | Mar 12, 2024 | 85.00 | 20.40 | 1,600 | NSE SME |
| Mukka Proteins Limited IPO | Feb 29, 2024 | Mar 04, 2024 | Mar 07, 2024 | 28.00 | 224.00 | 535 | BSE, NSE |
| M.V.K. Agro Food Product Ltd IPO | Feb 29, 2024 | Mar 04, 2024 | Mar 07, 2024 | 120.00 | 65.88 | 1,200 | NSE SME |
| Bharat Highways Infrastructure Investment Trust InvIT | Feb 28, 2024 | Mar 01, 2024 | Mar 06, 2024 | 100.00 | 2500.00 | 150 | BSE, NSE |
(Source: Chittorgarh.com)
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | LIC, GIC Re, New India remain Domestic Systemically Important Insurers: Irdai | Click here |
| 2 | Burning cost rates for fire insurance not to be embedded: Irdai | Click here |
| 3 | Will motor insurance claims be rejected in absence of PUC Certificate? Clarification from IRDAI | Click here |
| 4 | IRDAI imposes Rs.2 crore fine on a corporate agent for fraudulent sales practices | Click here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | In relief for Vi & Adani, DoT mulls waiving 5G minimum rollout fine | Click here |
| 2 | Spectrum auctions in 2-3 months, likely to be muted: DoT Secy | Click here |
| 3 | DoT launches infrastructure planning initiative | Click here |
| 4 | DoT, telcos officials get training on standards process ahead of global telecom meet in India | Click here |
10. msme / SME updates
| Sl. | Particulars | Link |
| 1 | Ministry of Micro, Small & Medium Enterprises organizes CPSE conclave on public procurement policy to acknowledge the efforts taken by CPSES towards fulfilling the mandate under public procurement policy of Government | Click here |
| 2 | Maharashtra MSME Defence Expo takes big strides to strengthen MSME’s participation in facilitating India’s | Click here |
| 3 | MSME Ministry launches three new initiatives to give impetus to women’s entrepreneurship | Click here |
11. Competition Commission of India (CCI)
| Sl. | Particulars | Link |
| 1 | Reliance-Disney merger may face CCI scrutiny over dominance fears, say experts | Click Here |
| 2 | Viacom18-Star merger may face intense CCI scrutiny | Click Here |
| 3 | Shark Tank Judge Anupam Mittal to Supreme Court and CCI: Google’s Lagaan must be stopped | Click Here |
| 4 | CCI must act against anti-competitive behaviour: Info Edge’s Sanjeev Bikhchandani amid Google app billing row | Click Here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | MoU signed at Bharat Tex 2024 between Textiles Committee, Government e-Marketplace and Standing Conference of Public Enterprises to promote upcycled products made from textiles waste and scrap | Click here |
| 2 | Cabinet approves PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore households | Click here |
| 3 | Cabinet approves royalty rates for mining of 12 critical and strategic minerals – Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten, and Vanadium | Click Here |
| 4 | Cabinet approves establishment of International Big Cat Alliance (IBCA) | Click here |
| 5 | From ₹6,000 crore fishery scheme to telecom spectrum auction, key decisions by Union Cabinet today | Click here |
13. Current Affairs Quiz (taken from various sources)
| Sl. | Questions | Answers |
| 1 | Vikramaditya Vedic Clock, recently mentioned in the news, is located in which city? | Ujjain |
| 2 | Global Waste Management Outlook 2024, recently seen in the news, is published by which one of the following organization? | UNEP |
| 3 | How many railway stations have successfully achieved the prestigious “Eat Right Station” certification? | 150 |
| 4 | Kulasekarapattinam Spaceport, recently seen in the news, is located in which state? | Tamil Nadu |
| 5 | Recently, which South American country has declared a health emergency due to the rising cases of dengue fever? | Peru |
| 6 | ‘Vantara’ initiative, recently seen in the news, is associated with which one of the following? | Animal Welfare |
| 7 | Where was the 2nd State Level Shehri Samridhi Utsav inaugurated? | Agartala |
| 8 | What is the rank of India in the Global Intellectual Property Index 2024? | 42nd |
| 9 | Recently, which state government has decided to repeal the Muslim Marriage and Divorce Registration Act, 1935? | Assam |
| 10 | Pankaj Udhas, who passed away recently, was associated with which field? | Singing |
Source: gktoday.in
The End
Disclaimer:
This write – up is prepared as a Knowledge Sharing Initiative. *Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. . In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.
| Volume 138* |
The author can be approached at cslalitrajput@gmail.com // +918802581290 (W).
| Prepared & Compiled by: Lalit RajputCompany SecretaryCell: +91 8802581290Email: cslalitrajput@gmail.com LinkedIn: https://www.linkedin.com/in/cslalitrajput/ |
- SEBI Updates:
| [Sl. | Particulars | Link |
| 1 | Warning letter issued to advancetrading.co (Proprietor Mr. Mohd Shahrukh Qureshi) | Click Here |
| 2 | Informal Guidance request received from K.J Joseph and Thomas John in relation to the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 | Click Here |
| 3 | Settlement Order in the Matter of Lotus Chocolate Company Limited | Click Here |
| 4 | Settlement Order in the matter of FPIs not meeting the eligibility criteria prescribed under SEBI (FPI) Regulations | Click Here |
| 5 | Unserved Hearing Notice, dated March 1, 2024, issued to Jitendra Bharbhuja (Proprietor of Maxx Innovation) in the matter of Maxx Innovation and Maxx Innovation Growth. | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | Chinese companies under corporate affairs ministry’s scanner for links to loan apps | Click Here |
| 2 | Exclusive: MCA to complete probe into Hero MotoCorp, MG Motor by June | Click Here |
| 3 | Corporate Affairs Ministry to release new regulations for unlisted startups in three months | Click Here |
3. RBI / Banks Updates
| Sl. | Particulars | Link |
| 1 | RBI may undertake comprehensive review of architecture of payment banks | Click Here |
| 2 | Review of Guidelines – Withdrawal of Circulars | Click here |
| 3 | Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 | Click here |
| 4 | Capital Adequacy Guidelines – Review of Trading Book | Click here |
| 5 | Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 | Click here |
| 6 | Amendment to Master Direction on Prepaid Payment Instruments | Click here |
| 7 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 8 | Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 | Click here |
| 9 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 10 | RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on March 04, 2024 | Click here |
4. IBC / Insolvency Law updates
| Sl. | Particulars | Link |
| 1 | Approval of Resolution Plan – Brick Eagle Group Private Limited [IA. No. 3349-2022 in CP(IB)No. 1845-MB-C-II-2019] | Click here |
| 2 | Approval of Resolution Plan – Shimita Trading Private Limited [I.A. 2729-2022 in C.P. No. (IB) 2510-MB-C-III-2019] | Click here |
| 3 | Approval of Resolution Plan – Blue Frog Media Private Limited [IA No. 2828 of 2021 in CP (IB) No. 4360-MB-C-I-2018] | Click here |
| 4 | In the matter of Mr. Shashi Agarwal, IP | Click here |
| 5 | Approval of Resolution Plan – Chiraayush Stock Consultants Pvt. Ltd. [IA No. 222-JPR-2021 in CP No. (IB)-266-10-JPR-2019] | Click here |
| 6 | Approval of Resolution Plan – Reliance Capital Limited [IA No. 2949 of 2023 in CP (IB) No. 1231 of 2021] | Click here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | Mohali: ESIC fined for not reimbursing full mediclaim amount to beneficiary | Click here |
| 2 | Medical Benefits to be extended to superannuated Insured Persons with relaxed norms | Click here |
| 3 | Those who have chosen option of higher PF pensions receive less amounts | Click here |
| 4 | PF Employees Rejoice! Understanding the Enhanced EPS Pension Scheme in India | Click here |
6. Key Press information
| Sl. | Particulars | Link |
| 1 | Reforms initiated in 2014 transform coal sector, making it more efficient, transparent, investor-friendly and ensuring coal’s vital role in nation’s economic growth and energy security | Click here |
| 2 | PFRDA notifies amendments to Retirement Adviser (RA) regulations for Good Governance and ease of compliance | Click here |
| 3 | DPIIT and World Bank jointly organise National Workshop on Logistics Efficiency Enhancement | Click here |
| 4 | Historic Resolution on Promoting Sustainable Lifestyles | Click here |
| 5 | Registration of newspapers and periodicals goes online through Press Sewa Portal; | Click here |
| 6 | Swachhata Green Leaf Rating Initiative All Set To Revolutionize India’s Burgeoning Tourism Industry With World-Class Hygiene & Sanitation Facilities For Tourist & Promote Sustainable Tourism | Click here |
| 7 | REC Limited joins hands with UNISED to support Education of Children in Siddharthnagar, Uttar Pradesh | Click here |
| 8 | Prime Ministerto dedicate to the nation and lay foundation stone for NTPC’s Power Projects worth more than Rs. 30,000 crores | Click here |
7. IPO & investment Section
| Issuer Company | Open Date | Close Date | Listing Date | Issue Price (Rs) | Issue Size (Rs Cr.) | Lot Size | Exchange |
| Pratham EPC Projects Limited IPO | Mar 11, 2024 | Mar 13, 2024 | Mar 18, 2024 | 71.00 to 75.00 | 37.50 | 1,600 | NSE SME |
| Pune E-Stock Broking Limited IPO | Mar 07, 2024 | Mar 12, 2024 | Mar 15, 2024 | 78.00 to 83.00 | 38.23 | 1,600 | BSE SME |
| Gopal Snacks Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 381.00 to 401.00 | 650.00 | 37 | BSE, NSE |
| Shree Karni Fabcom Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 220.00 to 227.00 | 42.49 | 600 | NSE SME |
| Koura Fine Diamond Jewelry Limited IPO | Mar 06, 2024 | Mar 11, 2024 | Mar 14, 2024 | 55.00 | 5.50 | 2,000 | BSE SME |
| JG Chemicals Limited IPO | Mar 05, 2024 | Mar 07, 2024 | Mar 13, 2024 | 210.00 to 221.00 | 251.19 | 67 | BSE, NSE |
| Sona Machinery Limited IPO | Mar 05, 2024 | Mar 07, 2024 | Mar 13, 2024 | 136.00 to 143.00 | 51.82 | 1,000 | NSE SME |
| R K SWAMY Limited IPO | Mar 04, 2024 | Mar 06, 2024 | Mar 12, 2024 | 270.00 to 288.00 | 423.56 | 50 | BSE, NSE |
| V R Infraspace Limited IPO | Mar 04, 2024 | Mar 06, 2024 | Mar 12, 2024 | 85.00 | 20.40 | 1,600 | NSE SME |
| Mukka Proteins Limited IPO | Feb 29, 2024 | Mar 04, 2024 | Mar 07, 2024 | 28.00 | 224.00 | 535 | BSE, NSE |
| M.V.K. Agro Food Product Ltd IPO | Feb 29, 2024 | Mar 04, 2024 | Mar 07, 2024 | 120.00 | 65.88 | 1,200 | NSE SME |
| Bharat Highways Infrastructure Investment Trust InvIT | Feb 28, 2024 | Mar 01, 2024 | Mar 06, 2024 | 100.00 | 2500.00 | 150 | BSE, NSE |
(Source: Chittorgarh.com)
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | LIC, GIC Re, New India remain Domestic Systemically Important Insurers: Irdai | Click here |
| 2 | Burning cost rates for fire insurance not to be embedded: Irdai | Click here |
| 3 | Will motor insurance claims be rejected in absence of PUC Certificate? Clarification from IRDAI | Click here |
| 4 | IRDAI imposes Rs.2 crore fine on a corporate agent for fraudulent sales practices | Click here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | In relief for Vi & Adani, DoT mulls waiving 5G minimum rollout fine | Click here |
| 2 | Spectrum auctions in 2-3 months, likely to be muted: DoT Secy | Click here |
| 3 | DoT launches infrastructure planning initiative | Click here |
| 4 | DoT, telcos officials get training on standards process ahead of global telecom meet in India | Click here |
10. msme / SME updates
| Sl. | Particulars | Link |
| 1 | Ministry of Micro, Small & Medium Enterprises organizes CPSE conclave on public procurement policy to acknowledge the efforts taken by CPSES towards fulfilling the mandate under public procurement policy of Government | Click here |
| 2 | Maharashtra MSME Defence Expo takes big strides to strengthen MSME’s participation in facilitating India’s | Click here |
| 3 | MSME Ministry launches three new initiatives to give impetus to women’s entrepreneurship | Click here |
11. Competition Commission of India (CCI)
| Sl. | Particulars | Link |
| 1 | Reliance-Disney merger may face CCI scrutiny over dominance fears, say experts | Click Here |
| 2 | Viacom18-Star merger may face intense CCI scrutiny | Click Here |
| 3 | Shark Tank Judge Anupam Mittal to Supreme Court and CCI: Google’s Lagaan must be stopped | Click Here |
| 4 | CCI must act against anti-competitive behaviour: Info Edge’s Sanjeev Bikhchandani amid Google app billing row | Click Here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | MoU signed at Bharat Tex 2024 between Textiles Committee, Government e-Marketplace and Standing Conference of Public Enterprises to promote upcycled products made from textiles waste and scrap | Click here |
| 2 | Cabinet approves PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore households | Click here |
| 3 | Cabinet approves royalty rates for mining of 12 critical and strategic minerals – Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten, and Vanadium | Click Here |
| 4 | Cabinet approves establishment of International Big Cat Alliance (IBCA) | Click here |
| 5 | From ₹6,000 crore fishery scheme to telecom spectrum auction, key decisions by Union Cabinet today | Click here |
13. Current Affairs Quiz (taken from various sources)
| Sl. | Questions | Answers |
| 1 | Vikramaditya Vedic Clock, recently mentioned in the news, is located in which city? | Ujjain |
| 2 | Global Waste Management Outlook 2024, recently seen in the news, is published by which one of the following organization? | UNEP |
| 3 | How many railway stations have successfully achieved the prestigious “Eat Right Station” certification? | 150 |
| 4 | Kulasekarapattinam Spaceport, recently seen in the news, is located in which state? | Tamil Nadu |
| 5 | Recently, which South American country has declared a health emergency due to the rising cases of dengue fever? | Peru |
| 6 | ‘Vantara’ initiative, recently seen in the news, is associated with which one of the following? | Animal Welfare |
| 7 | Where was the 2nd State Level Shehri Samridhi Utsav inaugurated? | Agartala |
| 8 | What is the rank of India in the Global Intellectual Property Index 2024? | 42nd |
| 9 | Recently, which state government has decided to repeal the Muslim Marriage and Divorce Registration Act, 1935? | Assam |
| 10 | Pankaj Udhas, who passed away recently, was associated with which field? | Singing |
Source: gktoday.in
The End
Disclaimer:
This write – up is prepared as a Knowledge Sharing Initiative. *Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. . In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.
| Volume 138* |
The author can be approached at cslalitrajput@gmail.com // +918802581290 (W).
