Trustees must maintain accounts, update holders annually, and submit auditor certificates to the stock exchange before REF reimbursements, improving transparency and accountability.
Issuers must submit security and financial certificates to debenture trustees quarterly, half-yearly, or annually, ensuring continuous monitoring and investor protection.
SEBI specifies conditions for debenture trustees engaging in activities outside its oversight, ensuring separate business units, disclosures, and investor protection compliance.
The circular clarifies REF usage for legal enforcement in case of defaults, allowing trustees to reimburse specified expenses without prior holder approval. It improves operational efficiency and investor protection.
Issuers must now submit security and financial reports on quarterly, semi-annual, annual, and three-year timelines. The move improves due diligence and investor protection in debt markets.
RBI revises account details for receiving compounding application fees and sums under FEMA, simplifying payment through NEFT and RTGS.
ROC Kolkata penalized company directors for exceeding the permissible gap between board meetings under Section 173(1) of the Companies Act, emphasizing strict adherence to statutory timelines.
The ROC levied penalties after finding that mandatory company details were omitted from MGT-9 and financial statements. The order highlights that even inadvertent filing gaps attract liability under Section 12(8).
ROC imposed significant penalties for failure to file FY 2019–20 financial statements despite extended deadlines. The case highlights strict consequences for prolonged non-compliance under Section 137.
The ROC held that failure to attach FY 2017–18 financial statements could not be penalized due to post-default decriminalization. The case clarifies the impact of statutory amendments on past non-compliances.
