MCA introduces procedure for takeover of any Company by majority shareholder
The Ministry of Corporate Affairs has introduced a new Rule 5 & 6 in the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2016 which provides the procedures for a member along with others holding not less than 3/4th of shares of the Company to make a takeover offer in terms of sub-section (11) of section 230 to acquire the remaining shares of the Company.
SEBI sets position limit for market participants trading on exchanges at IFSCs for currency futures and options contracts involving the Indian rupee.
The Securities and Exchange Board of India vide notification dated 3rd February, 2020 has fixed the position limits for eligible market participants on stock exchanges at international financial services centres (IFSCs) for currency futures and options contracts involving the Indian rupee.
Information regarding Statutory Auditor and Secretarial Auditor is to be mandatorily updated in the Management Details under BSE Listing Centre.
BSE has clarified that, Information regarding Statutory Auditor and Secretarial Auditor is to be mandatorily updated in the Management Details section (Tab 3 and 4) under BSE Listing Centre as a one-time exercise and should be updated as and when there are any changes.
MCA has extended the last date for filing MGT-7 Annual Return and AOC-4 Financial Statement in J&K & Ladakh.
The extension of due dates has been done to 31 March 2020 as per the demand of the stakeholders for the filing of financial statements for the financial year ended 31.03.2019 due to disturbances in internet services and the normal work was affected in the UT of J&K and UT of Ladakh.
