ROC Patna imposed penalties on a Nidhi company and its Managing Director for failure to file the annual return under Section 92 of the Companies Act, 2013. The annual return remained unfiled despite issuance of adjudication notice and hearing opportunity.
IFSCA has advised regulated entities in the IFSC dealing with retail consumers to publish Consumer Charters on their websites. The move aims to strengthen transparency, accountability, and consumer protection in financial services.
The amended directions permit commercial banks to recognize current year profits for CRAR calculations on a quarterly basis. RBI also prescribed audit and limited review requirements for such recognition.
SEBI has fixed a uniform 30-day lag for sharing and using market price data for educational purposes after concerns over misuse and impractical restrictions. The circular also grants NISM limited one-day access for simulation labs.
The IFSCA amended the Finance Company Regulations, 2021 to permit Special Purpose Vehicles (SPVs) to undertake leasing and financing activities. The amendment also prescribes minimum fund requirements and grants exemptions from certain regulations.
RBI amended the capital adequacy norms for Small Finance Banks by revising provisions governing inclusion of quarterly profits in CET1 capital. The new framework prescribes audit requirements and a revised profit eligibility formula.
RBI amended the capital adequacy norms for Payments Banks by revising rules for inclusion of quarterly profits in CET1 capital. The new framework allows quarterly profit recognition subject to audit and prescribed deductions.
IFSCA amended its TechFin and Ancillary Services Regulations to create a separate regulatory framework for Trust and Company Services Providers in IFSCs. The amendment introduces registration, governance, compliance, and reporting requirements for TCSP entities.
ROC Mumbai imposed penalty for possessing duplicate Director Identification Numbers in violation of Section 155. The ruling highlights that even inadvertent duplicate DIN allotment can attract continuing penalties.
ROC Delhi held that failure to regularize an Additional Director at the next AGM violated Section 161(1) of the Companies Act. Since the default continued for 2,721 days, maximum penalties were imposed on the company and directors.
