CS Pradeep Sahoo

This is for the sake of an intimation with regards to the upcoming compliance to be undertaken under the Companies Act, 2013 on or before this 30th June.

Every Private Limited Companies & Public Companies are mandatorily required to report the details of its indebtedness standing on March 31, 2021.

Indebtedness of the Company includes loan taken from Director, Director's relative, Shareholders, Banks, PFI's, NBFC, HUF, Company, LLP's, Firms, Trust, the amount raised through debt securities like bond, debentures etc.

Company in its routine operations generally accepts the amount as an advance towards the supply of goods, materials and services but sometimes get delay in fulfiling its commitment within the stated timeframe and hance the amount stands classified under the act as Deposit after a certain period of time, and thus the same required to be reported.

The reporting requirement is mandatory and with no exceptions other than certain categories of Companies such as NBFC, Banking Companies, Housing Finance and Government Companies.

"NIL return -not mandatory"

SEBI/HO/CFD/CMD1/CIR/P/2020/71
To
April 23, 2020
भारतीयप्रततभतू तऔरवितिमयबोर्ड
Securities and Exchange Board of India
All listed entities that have listed their specified securities All Recognized Stock Exchanges
All Depositories
Madam / Sir,
CIRCULAR
Subject: Relaxation in relation to Regulation 44(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) on holding of Annual General Meeting (AGM) by top 100 listed entities by market capitalization, due to the COVID –19 pandemic
1. Regulation 44(5) of the LODR requires top 100 listed entities by market capitalization to hold their Annual General Meeting (AGM) within a period of five months from the date of closing of the financial year. SEBI vide Circular dated March 26, 2020 (SEBI/HO/CFD/CMD1/CIR/P/2020/48) had relaxed this requirement by one month for listed entities whose financial year ends on March 31, 2020.
2. Subsequently, the Ministry of Corporate Affairs (MCA) vide Circular No.18/2020 dated April 21, 2020 has clarified that “...if the companies whose financial year (other than the first financial year) has ended on December 31, 2019 hold their AGM for such financial year within a period of nine months from the closure of the financial year (i.e., by September 30, 2020), the same will not be treated as a violation.”
3. Accordingly, regulation 44(5) of the LODR is relaxed whereby the top 100 listed entities by market capitalization whose financial year ended on December 31, 2019 may hold their AGM within a period of nine months from the closure of the financial year (i.e., by September 30, 2020).
4. This Circular shall come into force with immediate effect. Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities that have issued specified securities and also disseminate on their websites.
5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 101 and 102 of the LODR and the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
6. This Circular is available at www.sebi.gov.in under the link “LegalCirculars”.
Yours faithfully,
Pradeep Ramakrishnan General Manager Corporation Finance Department Compliance and Monitoring Division-1 +91-22-26449246 [email protected]

Securities and Exchange Board of India Securities and Exchange Board of India (SEBI) has a new mechanism in place to improve investor grievance redressal significantly

*FSSAI ORDER*
*Dated: 13th April 2020*

*EXTENSION TILL 30TH JUNE 2020 FOR APPLYING FOR RENEWAL OF LICENSE/REGISTRATION*

As we all know that the whole country has been lockdown due to COVID-19 pandemic. Consequently, FSSAI Authorities came up with the ORDER that FBOs (whose license/registration has expired/is expiring during the period 22nd March 2020 to 31st May 2020 *are given an extension to apply for renewal of their license/registration till 30th June 2020*

Please find below link for FSSAI order-

www.fssai.gov.in

Great Breaking News👍👍
The Ministry of Corporate Affairs issued Companies Fresh Start Scheme 2020 vide Circular 12/2020 dt 30.3.2020 which applies both public and private companies incorporated under Co Act 1956/2013. The salient features are
(1) permits filing all pending Returns, Statements, Documents for any number of years.
(2) it shall come into operation on 1.4.2020 and remain effective up to 30th Sep 2020.
(3) it applies to all companies both public or private who failed to file all returns statements or Documents including Annual Return remain for any number of years as on date of filing.
(4) Only normal fees as prevailing on the date of filing shall be payable.
(5)no late fee no penalty no prosecution only normal fees payable.
(6) Prosecution if any pending shall be disposed off after payment
(7) Sceme not apply to those companies against whom final notice under Section 248 has been given by ROC for striking off or who applied for striking off or applied for being declared dormant co; vanishing company or dormant company or companies under CIRP
(8) companies who name struck off cannot avail this scheme and have to get their name restored;
(9) Companies can avail this scheme for the purpose of (i) getting themselves dormant under Section 455 and also (ii) getting their name struck off
(10) After payment of normal fees and documents return statement is taken on record, an application shall be filed electronically (without any fees) for obtaining Immunity Certificate but it shall not be filed beyond six month from the date of expiry of scheme.
(11)scheme grants immunity against filing of forms returns and documents but not against any punitive action being done by the company for which suitable can be taken by ROC. For example immunity in delaying in filing return of allotment but not against any illegalites committed in allotment of shares.

This is goldenj opportunity to file all pending Returns Annual Accounts, Statements including all pending Annual Returns pending for any number of years.
Regards