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Archive: 31 July 2020

Posts in 31 July 2020

Tea (Marketing) Control (Amendment) Order, 2020

July 31, 2020 819 Views 0 comment Print

(1) This order may be called the Tea (Marketing) Control (Amendment) Order, 2020. (2) It shall come into force on the date of its publication in the Official Gazette.

Pre-emptive rights of Existing Shareholders for further issue of shares

July 31, 2020 28425 Views 1 comment Print

Pre-emptive rights of Existing Shareholders for further issue of shares under Section 62 of the Companies Act, 2013 Currently, Section 62 of the Companies Act, 2013 are in operation to increase subscribed capital of the company by issue of further shares. As per this section further shares can be issued in different mode as under- -By […]

Open offer process under SEBI (SAST) Regulations 2011

July 31, 2020 12675 Views 0 comment Print

SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 – [SEBI (SAST) Regulations 2011] 1. Regulation 12(1) Before PA, acquirer shall appoint a Merchant Banker, who is not associate of the acquirer, as manager to open offer. 2. Regulation 12(2) The Acquirer through such manger to open offer shall made the PA of open offer […]

Collection & Reporting of Margins by TM/CM in Cash Segment

July 31, 2020 1125 Views 0 comment Print

If TM / CM collects minimum 20% upfront margin in lieu of VaR and ELM from the client, then penalty for short-collection / non-collection of margin shall not be applicable. However, it is reiterated that Clearing Corporation shall continue to collect the upfront margin from the TM / CM based on VaR and 2.2 The penalty provision for short-collection / non-collection of upfront margin in cash segment shall be implemented with effect from September 01, 2020.

IDC receipts for State Government cannot be taxed in the Hands of Assessee

July 31, 2020 1386 Views 0 comment Print

The issue under consideration is whether the CIT(A) is correct in upholding IDC receipts as normal trading receipts ignoring that the money belongs to state government?

Use of digital signature certifications for authentication / certification of filings / submissions made to Stock Exchanges

July 31, 2020 1167 Views 0 comment Print

SEBI has received a representation from the Institute of Company Secretaries of India (ICSI) stating that due to the COVID -19 pandemic and precautionary measures for its curtailment, Company Secretaries continue to face operational challenges in carrying out certification and authentication of documents in physical form.

Clarification on applicability of regulation 40(1) of SEBI (LODR) Regulations, 2015

July 31, 2020 2235 Views 0 comment Print

SEBI has received representations from investors expressing concerns that they have not been able to participate in open offers, buybacks and delisting of securities of listed entities since the securities held by them were not in dematerialized form.

Share application money cannot be treated as Loan unless Transaction is bogus

July 31, 2020 5880 Views 0 comment Print

It is not open to the revenue authorities to recharacterize the transaction unless it is found to be a sham or bogus transaction. While there are no specific powers vested in the TPO to recharacterize the transaction, even under the judge made law, such rechracterization can be done by the revenue authorities when the transactions are found to be substantially at variance with the stated form.

MSME Saksham for MSME Entrepreneurs

July 31, 2020 5106 Views 3 comments Print

Q: What is MSME Saksham? MSME Saksham is one stop knowledge platform for MSMEs launched by SIDBI and TransUnion CIBIL In order to support the revival of India’s economy and strengthen Micro, Small and Medium Enterprises (MSMEs), Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL (Credit Information Bureau (India) Limited or […]

Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020

July 31, 2020 663 Views 0 comment Print

These regulations may be called the Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020. They shall come into force on the date of their publication in the Official Gazette.

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