Additional disclosure requirements mandated by SEBI for Promoters
Promoters will have to make additional disclosures on encumbered shares, as per the notification issued by Securities and Exchange Board of India. The details are required to be furnished in addition to the already mandated disclosures on encumbrance of shares. The disclosure on reasons for encumbrance has be made to every stock exchange where the shares of the company are listed and to the listed companies as per the format given as Annexure-II of the notification.
Amendments to SEBI Delisting Regulations
The securities and Exchange board of India (SEBI) on July 29, 2019, has published the Securities and Exchange Board of India (Delisting of Equity Share) (Amendment) Regulations, 2019. Through this amendment, an explanation has been inserted to expand the ambit of the term “shares” to include equity shares having superior voting rights.
Exemption to specified person from filing return of income for the AY 2019-20
The Central Board of Direct taxes through its notification dated 26th July 2019, has exempted certain class of person from the requirement of furnishing a return of income under section 139(1) Income Tax Act, 1961 from assessment year 2019- 20 subject to the conditions specified. The order has been made in exercise of power under […]
Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019
Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 has been amended by a notification dated 25 July, 2019.
The amendment has introduced a stakeholder’s consultation committee and revised the definition of liquidation cost. The amendment also lays down a proper liquidation time line to be strictly complied with.
