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Circulars

MahaRERA: Procedure for transferring or assigning promoter’s rights & liabilities to a third party

July 23, 2021 9297 Views 0 comment Print

Cases where the transfer is initiated by the promoter: The promoter shall have to apply to MahaRERA with the consent of two-third allottees as on the date of application in the project under consideration, to seek permission to transfer its rights and liabilities to a third party.

IRDAI Standards & Benchmarks for Hospitals in provider Network- Reg.

July 23, 2021 1236 Views 0 comment Print

Standards and Benchmarks for the Hospitals in the provider Network- taking into consideration the prevailing COVID-19 pandemic, the timelines for complying with the standards and benchmarks stands extended for a further period of one year for all the existing network providers as on the date.

Handling Surrender requests of Annuity Policies issued to NPS Subscribers by ASPs

July 22, 2021 1026 Views 0 comment Print

PFRDA has been receiving requests for surrender of annuity policies post its issuance from the annuitants (who were erstwhile NPS Subscribers) or from other intermediaries with whom such Annuitants were associated earlier as NPS Subscribers. The Surrender is of two types viz surrender due to the applicability of Old Pension in case of Govt Sector subscribers and surrender due to any personal reasons including critical illness.

MahaRERA: Clarification regarding Formats for consent of allottees

July 22, 2021 10392 Views 0 comment Print

Whereas MahaRERA Circular No. 28/2021 dated 8th March 2021, provides for format for making application under section 7(3) for obtaining consents of at least 51 % of allottees. Where the same MahaRERA Circular No. 28/2021 also provides for format for making application under section 14(2) by obtaining consent of at least two thirds of allottees.

Handling Surrender requests of Annuity Policies issued to NPS Subscribers by ASPs

July 22, 2021 240 Views 0 comment Print

Under National Pension System (NPS), the Subscribers are allowed to exit as per PFRDA (Exit and Withdrawal) Regulations. Exit regulations of PFRDA mandates for the utilization of the specified amount of accumulated corpus to purchase immediate Annuity to be provided by Annuity Service Providers (ASP) which are empaneled with PFRDA. ASPs are Life Insurance Companies which are regulated by Insurance Regulatory and Development Authority of India (IRDAI).

Continuous disclosures in compliances by InvITs – Amendments

July 22, 2021 858 Views 0 comment Print

All complaints including SCORES complaints received by the InvIT shall be disclosed in the format mentioned in Annexure – A on the website of the InvIT and also filed with the recognized stock exchange(s), where its units are listed within 21 days from the end of financial year or end of quarter, as the case may be

Continuous disclosures in compliances by REITs – Amendments

July 22, 2021 528 Views 0 comment Print

All complaints including SCORES complaints received by the REIT shall be disclosed in the format mentioned in Annexure – A on the website of the REIT and also filed with the recognized stock exchange(s), where its units are listed within 21 days from the end of financial year or end of quarter, as the case may be

Instant Bank Account Verification for enhanced due diligence under Exit/Withdrawal process of NPS

July 20, 2021 492 Views 0 comment Print

Growing Subscribers’ base, geographically wide spread service providers and the large-scale adoption of digital interventions necessitate the importance of verifying the beneficiary’s bank account number of the Subscribers independently not only to ensure that the amount is received by the rightful beneficiary whose Bank Account is active but also to ensure that amount is remitted within in the specified timelines.

Filing of Form CIRP 8 under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

July 20, 2021 6453 Views 0 comment Print

CIRP Regulations requires the resolution professional to file Form CIRP 8 intimating details of his opinion and determination under regulation 35A, by 140th day of the insolvency commencement date.

SEBI framework for segregation & monitoring of collateral at client level

July 20, 2021 6075 Views 0 comment Print

With a view to providing visibility of client-wise collateral (for each client) at all levels, viz., TM, CM and Clearing Corporation (CC), a reporting mechanism, covering both cash and non-cash collateral, shall be specified by the CCs. Details in respect of the same are as under:

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