One-time Relaxation in Additional Fees for Delayed Filing of LLP Forms The Ministry of Corporate Affairs (MCA) has announced a significant development for Limited Liability Partnerships (LLPs) facing difficulties in filing Form-3, Form-4, and Form-11 under Section 67 of the Limited Liability Partnership Act, 2008, read with Section 460 of the Companies Act, 2013. The government has introduced a one-time relaxation in additional fees for those LLPs that could not file the forms within the […]

Fostering Flexibility in the Social Stock Exchange Framework   Introduction The Social Stock Exchange (SSE) was created as a platform for not-for-profit organizations (NPOs) to raise funds. Regulatory guidelines have been established by the Securities and Exchange Board of India (SEBI) to govern SSE operations. In this blog, we explore the need for flexibility within the SSE framework and propose recommendations to address the challenges faced. Current State of SSE Both the National Stock Exchange […]

Introduction Revised Requirement for Maintaining Additional CRR In accordance with Section 42(1) of the Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain a Cash Reserve Ratio (CRR) of 4.50% of their Net Demand and Time Liabilities (NDTL). This regulation ensures that banks maintain sufficient reserves to meet unforeseen liquidity requirements. Revised Requirement for Maintaining Additional CRR under Reserve Bank of India Act, 1934 All scheduled banks are required to maintain […]

What ESG, or the lack of it, has to do with governance lapses in startups Earlier this week, two key investors in ed-tech firm Byju’s separately flagged off corporate-governance concerns while elaborating on the reasons for exiting the startup’s board last month. Prosus, one of the largest technology investors in the world and the largest non-promoter shareholder at Byju’s, said that the ed-tech company’s reporting and governance structures did not evolve sufficiently for a business […]

Sebi planning unique identity code for FPIs The Securities and Exchange Board of India (Sebi) wants to make it mandatory for foreign portfolio investors (FPIs) to provide their legal entity identifier (LEI) code, further boosting the KYC framework for overseas investors buying into Indian financial assets. “With respect to LEI, it is proposed that the requirement of obtaining the same may be made mandatory for all non-individual FPIs,” Sebi said in a note. “All existing […]