India – Corporate Law Newsletter For June 2021.

Greetings from Acuity Law!

We are pleased to share our knowledge alert for the month of June 2021 relating to the latest developments in Indian corporate laws. A snapshot of the June 2021 Newsletter is enclosed below. 

BANKING LAW

Press release, notification and consultative paper issued by the Reserve Bank of India (“RBI”) on
 

1. On-Tap Term Liquidity Window for Contact Intensive Sectors dated 04 June 2021.

2. RBI Notification on Investment in Payment System Operators from FATF Non-Compliant Jurisdictions dated 14 June 2021.

3. RBI Consultative Document on Regulation of Microfinance dated 14 June 2021.
    

Please click here to read the consultative document. 
 

COMPANIES LAW

Circulars and notification issued by Ministry of Corporate Affairs (“MCA”) on
 

1. Companies (Meetings of Board and its Powers) Amendment Rules, 2021 dated 15 June 2021.

2. Companies (Incorporation) Fourth Amendment Rules, 2021 dated 7 June 2021.

3. MCA circular on Companies (Accounting Standards) Rules, 2021 dated 23 June 2021.

4. Relaxations to companies in the light of COVID-19 pandemic on:
    

   • Passing resolutions on account of Covid-19 dated 23 June 2021

   • Relaxation of time for filing forms dated 30 June 2021.

   • Relaxation of time for filing charge creation / modification forms dated 30 June 2021
      

Please click here and here to read the circular dated 3 May 2021 and 30 June 2021 respectively. 
 

LABOUR LAW
 

1. Ministry of Labour and Employment (“MoLE”) notification of Draft Code on Social Security (Employee's Compensation) (Central) Rules, 2021 dated 3 June 2021.
    

Please click here to read the notification. 
 

SECURITIES LAW
 

1. Securities and Exchange Board of India (“SEBI”) passes ex-parte interim order in the matter of insider trading in the scrip of Infosys Limited dated 31 May 2021.

2. Orders passed by SEBI and the Securities Appellate Tribunal (“SAT”) in the matter of the six debt schemes of Franklin Templeton Asset Management Company dated 7 June 2021 and 28 June 2021, respectively.

3. SEBI and SAT orders in the matter of six debt schemes of Franklin Templeton Asset Management Company for violation of the SEBI (Mutual Fund) Regulations,1996 and other SEBI circulars dated 7 June 2021 and 01 July 2021, respectively.

4. Introduction of the SEBI (Delisting of Equity Shares) Regulations, 2021 vide notification dated 10 June 2021.

5. SEBI Circular dated 15 June 2021 on vesting of employee stock options and stock appreciation rights on the death of an employee.

6. SEBI discussion paper dated 25 June 2021 on the review of the delisting framework pursuant to an open offer.

7. Amendments to the corporate governance framework for listed companies at SEBI board meeting dated 29 June 2021.
    

Please click here to read the SEBI order. 
 

FOREIGN EXCHANGE LAWS
 

1. Press Note no. 2 by the Department for Promotion of Industry and Internal Trade dated 14 June 2021 on the increase in permitted foreign investment in the insurance sector.
    

Please click here to read the press note.
 

Click here to view the newsletter. (Pdf 8 Pages)

 

 

For further information, please contact:  

Souvik Ganguly, Partner, Acuity Law

al@acuitylaw.co.in