22nd SEBI Board meeting Report
SEBI approved amendments to streamline the process of handling unclaimed amounts of investors in listed entities (excluding companies, REITs, and InvITs) and facilitating refunds from the Investor Protection and Education Fund (IPEF).
Ministry of Railways revises the process of ex-gratia relief payment to the dependents of dead and injured passengers involved in Train Accidents and Untoward Incidents
Ministry of Railways has decided to revise the procedure of payment of ex-gratia relief to the dependents of dead and injured passengers involved in Train Accidents and Untoward Incidents as defined under Section 123 read with Section 124 and 124-A of the Railways Act, 1989 and to the road users who met with an accident due to Railway’s prima facie liability at Manned Level Crossing Gate Accident.
IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023
To expedite the resolution process and reduce delays, the amended regulations extend the timeline for creditors to submit claims. Creditors now have 90 days from the insolvency commencement date or the date of the latest request for resolution plans (RFRP) issuance, whichever is later, to submit their claims. Additionally, creditors making claims after this period must provide reasons for the delay, and the RP must explain why they didn’t include such claims earlier. This amendment aims to reduce the burden on the adjudicating authority (AA) and minimize uncertainties.
Master Direction – Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023
These Directions shall be applicable to the All India Financial Institutions (AIFIs) regulated by the Reserve Bank, viz. the Export-Import Bank of India (EXIM Bank), the National Bank for Agriculture and Rural Development (NABARD), the National Bank for Financing Infrastructure and Development (NaBFID), the National Housing Bank (NHB) and the Small Industries Development Bank of India (SIDBI).
TRAI releases Pre-Consultation Paper on Inputs for Formulation of “National Broadcasting Policy’
A National Broadcasting
Policy stipulating the vision, mission, strategies and the action points could set the tone for a planned development and growth of the Broadcasting sector in the country in the era of new and emerging technologies. With this background, a pre-consultation is being done with all the stakeholders to elicit the issues which are required to be considered for formulation of “National Broadcasting Policy”.
CBIC declares the revised rate of exchange of conversion
CBIC declares the revised the rate of exchange of conversion w.e.f 22 September, 2023.
TRAI releases Recommendations on “Issues related to Low Power Small Range FM Radio Broadcasting”
The recommendations provides for introduction of a new category of service provider called ‘Low Power Small Range FM Radio Broadcasting’ for provision of low power small range FM Radio.
ESIC seeks to identify unregistered establishments
In order to identify uncovered factories/units/establishments/employees, ROs in charges are advised to liaise with EPFO, Other Departments of the State and Central Government or their local Officers like Central Board of Secondary Education, Universities, Food and Drugs Administration, Field Offices of Ministry of Commerce, Ministry of Industries, Ministry of Corporate affairs, MSME, GST, Confederation of Indian Industry etc. and obtain data available with them regarding factories/establishment registered with them.
Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24
The due date of furnishing of Return of Income in Form ITR-7 for the Assessment Year 2023-24 in the case of assessees whose accounts are required to be audited, is extended from 31st October, 2023 to 30th November, 2023. he due date of furnishing Tax Audit Report in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution in Form 10B/Form/10BB for the Previous Year 2022-23, which is 30th September, 2023, is hereby extended to 31st October, 2023.
DGFT has delisted 32 agencies authorized to issue Certificates of Origin (Non Preferential)
The entities are delisted because they have still not onboarded on the e-CoO platform for issuance of Certificate of Origin (Non Preferential), to complete their on-boarding by 31st August 2023.
