corporate legal development link legal
This newsletter aims to briefly discuss the key corporate law developments during the period between
December 01, 2020 – January 31, 2021.
MCA
Amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 for purchase of minority shareholding held in dematerialized form.
December 17, 2020: The Ministry of Corporate Affairs (“MCA”) vide its notification no. G.S.R. 773 (E) amended the Companies (Compromises, Arrangements and Amalgamations) More...
Amendment to the Companies (Appointment and Qualification of Directors) Rules, 2014.
December 18, 2020: MCA vide its notification no. G.S.R. 774 (E) amended the Companies (Appointment and Qualification of Directors) Rules, 2014, More...
MCA notifies date regarding decriminalization of identified sections of the Companies Amendment Act, 2020.
December 21, 2020: MCA vide its notification S.O. 4646(E) has notified 45 sections of the Companies (Amendment) Act, 2020, More...
Insolvency proceedings suspended until March 25, 2021.
December 22, 2020: The government had suspended insolvency proceedings until September 25, 2020 which was further extended More...
MCA notifies provision for extension of time-limit for name reservation.
December 24, 2020: For incorporation of a company, an application for reservation of name of the company is made through the web service SPICe+. Basis the information More...
Amendment to e-Form SH-7 (Notice to Registrar of any alteration of share capital).
December 24, 2020: In case there is any alteration or increase in a company’s share capital or a company redeems any redeemable preference shares, e-Form SH-7 is required More...
Companies (Meeting of Board and its Powers) Fourth Amendment Rules, 2020.
December 30, 2020: MCA issued the Companies (Meetings of Boards and its Powers) Second Amendment Rules, 2020 to further amend Rule 4(2) of the Companies More...
MCA extends the timeline for conducting extra-ordinary general meetings through video conferencing (VC) or other audio-visual means (OAVM).
December 30, 2020: MCA has issued a notification for the extension of the timeline for conducting extra-ordinary general meetings through OAVM and VC’s or transact items More...
Notification that the Service Request Number of applications filed for an extension in e-Form MGT-7 has been made optional for the year 2019-2020.
December 31, 2020: MCA notified its stakeholders that owing to the blanket extension given to all companies to hold its annual general meeting, the field ‘SRN of the application filed More...
MCA notifies that filing of DIR-3 KYC for Financial Year 2019-20 shall be deactivated shortly on the portal.
December 31, 2020: MCA has notified that the last date for filing DIR-3 KYC for financial year 2019-20 has expired on December 31, 2020. The process of deactivating More...
MCA releases Report of the Company Law Committee on Decriminalization of Limited Liability Partnership Act, 2008.
January 8, 2021: MCA released the Report of the Company Law Committee on the Decriminalization of Limited Liability Partnership Act, 2008 (“Act”) More...
‘Spending of CSR funds for awareness campaigns and public outreach on COVID-19’ are eligible to qualify as CSR activity.
January 13, 2020: In light of the COVID-19 pandemic, MCA vide its General Circular No. 10/2020 had stated that COVID-19 related activities of promotion of health More...
MCA notifies scheme for condonation of delay for companies restored on the Register of Companies between December 1, 2020 and December 31, 2020.
January 15, 2021: MCA vide its General Circular No. 3/2021, in the exercise of its power under Section 460 read with section 403 of the Companies Act, 2013 More...
Section 21 of the Companies (Amendment) Act, 2019 notified.
January 22, 2021: MCA vide its notification no. S.O. 324 (E) notified Section 21 of the Companies (Amendment) Act 2019, which specifies the More...
Certain provisions of the Companies (Amendment) Act 2020 enforceable from January 22, 2021.
January 22, 2021: MCA vide its notification no. S.O.325 (E) dated has appointed January 22, 2021 as the date on which the following Sections of the Companies More...
Amendment to Companies (Corporate Social Responsibility Policy) Rules, 2014.
January 22, 2021: MCA issued the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 to further amend the Companies More...
Amendment to the Companies (Incorporation) Rules, 2014.
January 25, 2021: MCA vide its notification amended Rule 41 of the Companies (Incorporation) Rules, 2014 which relates to conversion of public company into More...
FEMA
Amendment to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019.
December 8, 2020: The Ministry of Finance vide its notification issued the Foreign Exchange Management (FEMA) (Non-debt Instruments) (Fourth Amendment) Rules, More...
RBI
Perpetual Validity for Certificate of Authorisation to be issued to Payment System Operators.
December 4, 2020: The Reserve Bank of India (“RBI”) vide its notification RBI/2020-21/72DPSS.CO.AD.No.724/02.27.005/2020-21 More...
SEBI
Simplified E-Voting facility provided by Listed Entities to Demat Account Holders.
December 9, 2020: Under the Securities Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015 listed entities are required More...
Operational guidelines for Transfer and Dematerialization of re-lodged physical shares.
December 2, 2020: SEBI vide its circular SEBI/HO/MIRSD/RTAMB/CIR/P/2020/236 (“OG Circular”) had issued the operational guidelines for the transfer and dematerialization More...
SEBI provides clarification on the framework for issue of Depository Receipts (DR).
December 18, 2020: SEBI, vide its Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2020/243 has issued a clarification regarding exceptions for Non-Resident Indians in the criteria More...
SEBI issued Master Circular to streamline the process of filing schemes of arrangement for Listed Entities.
December 22, 2020: SEBI, vide its Master Circular No. SEBI/HO/CFD/DIL1/CIR/P/2020/249 (“Master Circular”), has compiled all the relevant and updated circulars issued by More...
SEBI extends the relaxation relating to procedural matters about issues and listing.
SEBI vide circular dated January 19, 2021 extended the relaxations given in the circular dated May 06, 2020 relating to procedural matters about issues and listing pertaining to More...
Amendment to SEBI (ICDR) Regulations, 2018.
SEBI vide notification dated January 08, 2021 has amended the SEBI (ICDR) Regulations, 2018 to provide that the requirement of minimum promoters’ contribution shall More...
AUTHORS
Nusrat Hassan
Co-Managing Partner
nusrat@linklegal.in
Yosham Vardhan
Associate Partner
yosham.vardhan@linklegal.in
   
Ankit Agarwal
Senior Associate
ankit.agarwal@linklegal.in
Abhinav Anand
Associate
abhinav.anand@linklegal.in
FIRM NEWS
  • Ketan Makhija and Gaurav Priyadarshi joined the Firm as Partners in the Corporate Commercial practice in Delhi Read More

  • Link Legal India Law Services announces the joining of two new partners Read More

  • Deal Update: Link Legal Advises SarvaGram in raising its first round of funding of Rs. 25 crore from Elevar Equity Read More

  • Deal Update: Link Legal Advises Medops Technology Private Limited In Series A Funding Read More

  • APTEL Provides Interim Relief to Developers in the Scrapped GUVNL 700 MW Solar Auction Read More

  • RBI tightens norms for investments in NBFCs from non-compliant FATF countries Read More

  • Recent judgment of the Hon’ble Apex Court in the matter of Phoenix ARC Private Limited vs. Ketulbhai Ramubhai Patel Read More

  • Bank Guarantees – Legality of Timelines for 'Assertion of Claim' and 'Enforcement of Claim' Read More

  • Recent judgment of Hon’ble NCLAT in the matter of The South Indian Bank Ltd. vs. Gold View Vyapaar Pvt. Ltd. Read More

  • Key Highlights of the Food Safety and Standards (Labelling and Display) Regulations, 2020 Read More

  • 15th Annual Conference on “Airports in India” | Development and Operations of Airports - Lessons Learnt So Far Read More

  • Webinar | ExportON!: Opportunities in India’s eCommerce Market Read More

AWARDS AND RECOGNITIONS
  • India Business Law Journal’s 2020 Indian Law Firm Awards in Aviation, Energy & Natural Resources and Infrastructure & Project Finance.

  • Winner of the ‘Utility Deal of the Year’ award at The Asset Triple A Infrastructure Awards 2020.

  • Ranked #20 in Top Ranked Law Firms: India by Top Ranked Legal 2020 for Aviation, Banking & Finance, Competition/ Antitrust, Corporate/ M&A and Dispute Resolution.

  • Capital Markets Law Firm of the Year Award at BW Legal World Global Legal Leaders Awards 2020.

  • Infrastructure & Project Finance Law Firm of the Year at Legal Era Indian Legal Awards 2019-20.

  • Recognised as one the Largest Law Firms in India in Asian Legal Business' Asia's Top 50 Largest Law Firms list.

  • Ranked as one of the Top 15 Law Firms in India in M&A and Private Equity League Tables by VCCEdge 2020.

  • Ranked as one of the Top 20 Law Firms in India in M&A and Private Equity League Tables by Venture Intelligence 2020.

  • Recognised as one of the 'Best Brands' at the Economic Times - Best Brands Summit 2019.

  • Ranked #14 among top 40 Indian Law Firms by RSG Consulting in 2019.

  • Ranked highly in various practice areas such as Aviation, Projects, Infrastructure, Energy, Construction, Banking & Finance, Corporate and M&A, Dispute Resolution, International Arbitration, Competition/ Antitrust, Restructuring & Insolvency, Capital Markets, Labour & Employment, TMT, etc. by Chambers and Partners, The Legal 500, RSG, Benchmark Litigation, India Business Law Journal, Asian Legal Business, IFLR1000, Asialaw, among others.

  • Partners of the Firm highly ranked by leading global publications including Chambers and Partners, The Legal 500, Benchmark Litigation, India Business Law Journal, Asian Legal Business, IFLR1000, Asialaw, among others.
Disclaimer:
The contents of this newsletter are intended for information purposes only. Parts of this newsletter are based on news reports and have not been independently verified. The newsletter is not in the nature of a legal opinion or advice and should not be treated as such. Link Legal India Law Services does not warrant the accuracy and completeness of this newsletter, and readers are encouraged to seek professional advice before acting upon any of the information provided therein. In no event will Link Legal India Law Services be liable for any loss whatsoever arising out of the use of or reliance on the contents of this newsletter. This newsletter is the exclusive copyright of Link Legal India Law Services and may not be circulated, reproduced or otherwise used by the intended recipient without the prior permission of its originator.