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Ministry of Corporate Affairs has extended time lines for reserved names and resubmission of forms

The revised timelines are as follows: - 1. Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of the name reservation. Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020. 2. Names reserved for 60 days for change of name of the company. INC-24 needs to be filed within 60 days of name reservation. Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020. 3. Extension of RSUB validity for companies. SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days beyond 3rd May 2020 would be allowed. However, for SRNs already marked under NTBR, extension would be provided on case to case basis. Note: Forms will not get marked to (Not to be taken on Record)’NTBR’ due to nonresubmission during this extended period as detailed above 4. Names reserved for 90 day...
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SEBI- Measures to further facilitate fund raising from capital markets in the backdrop of COVID-19 pandemic

In the wake of challenges for the Indian economy arising out of the Covid-19 pandemic and with a view to improving access to funding to the corporates through capital markets, SEBI has decided to grant certain temporary relaxations from the regulatory provisions related to rights/ public issuances by listed entities. Rights Issues 1. Fast track Rights issuances Towards expanding the universe of listed entities for the purpose of fast track rights issuances, SEBI has relaxed the following conditions: The eligibility requirement of average market capitalisation of public shareholding of INR 250 crores has been reduced to INR 100 crores. The requirement related to period of listing of equity shares of the issuer for at least three years has been reduced to listing for eighteen months only. The condition related to no audit qualifications on issuer’s audited accounts has been replaced with the requirement to disclose the impact of audit qualifications on issuer...
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One-time relaxation with respect to validity of SCEBI Observations.

In view of the impact of the COVID-19 pandemic, based on representations from various industry bodies, SEBI has decided to grant the following one time relaxations: Public issue/Rights issue In terms of Regulation 44(1), 85 and 140 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations), a public issue/rights issue may be opened within twelve months from the date of issuance of observations by SEBI. The validity of the SEBI Observations where the same have expired/ will expire between March 1, 2020 and September 30, 2020 has been extended by 6 months, from the date of expiry of such observation, subject to an undertaking from lead manager of the issue confirming compliance with Schedule XVI of the ICDR Regulations while submitting the updated offer document to the Board. In terms of Schedule XVI (1) (f)(i) of the ICDR Regulations, 2018 any increase or decrease in estimated fresh issue size by m...
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SEBI- Relaxation in timelines for compliance with regulatory requirements by Depository and depository participants.

In view of the situation arising due to COVID-19 pandemic, extended lockdown period and based on representation received from the Depositories regarding relaxation in timelines for compliance with regulatory requirements by Depositories and depository participants, it has been decided to provide relaxation in timelines for below compliance requirements. Submission of BO Grievances Report to Depositories. Submission of half yearly Internal Audit Report (IAR) by DPs for half year ended 31st March 2020. Redressal of investor grievances. Transmission of securities. Closure of demat account Systems audit on annual basis. Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications. Risk Based Supervision The details are given in the circular. Kindly click on below link to view the circular SEBI Circular
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RBI has advised the banks to extend the benefit of Interest Subvention and Prompt Repayment Incentive to farmers

RBI has advised the banks to extend the benefit of Interest Subvention of 2% and Prompt Repayment Incentive (PRI) of 3% for short term crop loan upto Rs. 3 lakhs to farmers whose account have become due between 1 st March, 2020 ànd 31 st May, 2020. Farmers whose loan repayment date lies between March 01, 2020 and May 31, 2020 can repay till end of May without any penal interest. RBI Circular
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Indian Railways announces slew of Incentives for Freight Traffic during COVID pandemic

Indian Railways announces slew of Incentives for Freight Traffic during COVID pandemic including the following: - No Haulage Charge for movement of empty containers and empty flat wagons from 24.03.2020 till 30.04.2020 More Customers can register their demands and also receive Railway Receipt for goods electronically instead of having to visit the goods sheds physically, making it more convenient and speedier for customers. In case customer does not avail electronic Receipt, they can take delivery of goods without submitting Railway Invoice (Railway Receipt) at destination point by using alternate procedure. Minimum number of BCNHL (covered wagons used for bagged consignments like foodgrains, agricultural produce etc) required to be loaded in order to avail train load rates has been reduced from 57 to 42 wagons now, with a view to support loading of essential items. The distance related conditions governing mini rake, two point rake etc have been relaxed to encourage ...
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