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Extension of time for submission of financial results for the quarter/half year/ financial year ended 30th June 2020

Earlier, SEBI had extended the timeline for submission of financial results by listed entities for the quarter/half-year / financial year ended 31st March 2020 to July 31, 2020 due to the impact of the CoVID19 pandemic. According to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which requires a listed entity to submit its quarterly/half-year/annual financial results within forty-five days or sixty days, as applicable, from the end of each quarter/half-year/financial…

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1. SEBI vide Circular no. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020 granted one time relaxations from strict enforcement of certain regulations of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, pertaining to Rights Issue opening up to July 31, 2020.   2.Based on the representations received from the market participants, the validity of relaxations, as provided by Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020 is further extended and shall be applicable for Rights Issues opening…

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The Central Board of Direct Taxation (CBDT) has signed a MoU with MoMSME. The MoU will facilitate the seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to MoMSME. This data will enable MoMSME to check and classify enterprises in Micro, Small and Medium categories as per the criteria notified on 26/06/2020 of MoMSME. The MoU comes into force from the date it was signed i.e 20/07/2020.

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MSME REGISTRATION

The Ministry of Micro, Small and Medium Enterprise has notified new norms to allow online registration of new enterprises based on self-declaration, doing away the requirement to upload documents and certificates, from July 1, 2020. As per the notification, MSME Department came up with a new definition/classification of MSMEs, procedure of issuing certificate called as Udyam Registration, composite criteria of investment and turnover, the meaning of investment, calculation of turnover etc has been covered. Udyam…

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Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016

In terms of the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 in case of: A Government company in which the entire paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments; or A subsidiary of a Government company, in which the entire paid up share capital is held by that…

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