{"id":2156,"date":"2024-10-18T10:21:04","date_gmt":"2024-10-18T10:21:04","guid":{"rendered":"https:\/\/www.rnm.in\/blog\/?p=2156"},"modified":"2025-01-30T10:55:39","modified_gmt":"2025-01-30T10:55:39","slug":"transaction-regulatory-advisory-services-alert-sept-2024","status":"publish","type":"post","link":"https:\/\/www.rnm.in\/blog\/transaction-regulatory-advisory-services-alert-sept-2024\/","title":{"rendered":"Transaction & Regulatory Advisory Services Alert – Sept 2024"},"content":{"rendered":"

In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2024 issued by MCA and SEBI.\u00a0<\/span><\/h3>\n

MCA UPDATE<\/h2>\n

IEPFA upgrades Call Centre and IVRS Support With New Toll-Free Number \u2014 14453<\/h3>\n

This new toll-free number replaces the old toll-free number 1800 114 667 and is designed to provide users 24\/7 with access to an upgraded, multi-language Interactive Voice Response System (IVRS) and an enhanced Call Centre Operating from 9:30 AM to 5:30 PM, Monday to Friday.<\/span><\/p>\n

To read more:\u00a0<\/b><\/p>\n

https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2051063<\/span><\/a>\u00a0<\/span><\/p>\n

Launching Company ADJ form on V3 portal<\/h3>\n

Form ADJ on V2 portal will be disabled from 12th September 2024.<\/span><\/p>\n

To read more:\u00a0<\/b><\/p>\n

\u00a0<\/span>https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/home.html<\/span><\/a>\u00a0<\/span><\/p>\n

Clarification on holding of Annual General Meeting (AGM) and EGM through Video Conference (VC) or Other Audio Visual Means (OAVM) and passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with Rules made thereunder;<\/b><\/p>\n

it has been decided to allow companies whose AGMs are due in the Year 2024 or 2025, to conduct their AGMs through VC or OAVM on or before 30th September, 2025.<\/span><\/p>\n

\u00a0<\/span>To read more:\u00a0<\/b><\/p>\n

https:\/\/www.mca.gov.in\/bin\/dms\/getdocument?mds=4C8ofg1qraQ0BIj5Bx1IJw%253D%253D&type<\/span><\/a>\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024<\/h3>\n

As per newly amended Rule 9B, a producer company shall issue the securities only in dematerialised form and facilitate dematerialisation of all its securities, in accordance with provisions of the Depositories Act, 1996 and regulations made thereunder and shall comply with the provision within a period of five years of closure of such financial year.<\/span><\/p>\n

To read more:\u00a0<\/b><\/p>\n

https:\/\/egazette.gov.in\/(S(udocmspd2yw5rbet2jduvdyd))\/ViewPDF.aspx<\/span><\/a>\u00a0<\/span><\/p>\n

The Companies (Accounts) Amendment Rules, 2024 (September 24, 2024)<\/h3>\n

Filing of Form CSR-2 for financial year 2023-2024 has to be done separately on or before 31st December, 2024 after filing Form No. AOC-4\/ Form No. AOC-4-NBFC (Ind AS)\/ Form No. AOC-4 XBRL.<\/span><\/p>\n

To read more:<\/b><\/p>\n

https:\/\/egazette.gov.in\/(S(xzfwyajyraf1ab5bmzbcaudq))\/ViewPD F.aspx<\/span><\/a>\u00a0<\/span><\/p>\n

SEBI UPDATE<\/h2>\n

Capital Market and Securities Laws<\/h3>\n

SEBI has notified the SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2024, which shall come into force on the date of their publication in the Official Gazette. Provided that the provisions of these regulations shall be applicable to such<\/span><\/p>\n

delisting offers whose initial public announcement is made on or after the date of coming into force of these regulations. Further provided that an acquirer may make the delisting offer in terms of the provisions of the SEBI (Delisting of Equity Shares) Regulations, 2021 as they existed before the coming into force of these regulations till the sixtieth day from the date of publication of these regulations in the official gazette.<\/span><\/p>\n

To read more:<\/b><\/p>\n

https:\/\/egazette.gov.in\/(S(znqby3ksikxlnuokdsr54gjk))\/default.aspx<\/span><\/a>\u00a0<\/span><\/p>\n

FEMA UPDATE<\/h2>\n

Department of Economic Affairs notifies Foreign Exchange (Compounding Proceedings) Rules, 2024 in pursuance of Union Budget 2024-25<\/h3>\n

These Rules supersede the Foreign Exchange (Compounding Proceedings) Rules, 2000. New amendments will simplify and update the provisions towards \u2018ease of investment\u2019 and \u2018ease of doing business\u2019. In pursuance of the Union Budget 2024-25 announcement by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to simplify rules and regulations for Foreign Investments, the Department of Economic Affairs (DEA), Ministry of Finance, has today notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 under powers given under section 46 read with section 15 of the Foreign Exchange Management Act (FEMA), 1999. The<\/span><\/p>\n

amended Rules will supersede the existing Foreign Exchange (Compounding Proceedings) Rules, which were issued in 2000. As part of a broader initiative to streamline and rationalize existing rules and regulations to further facilitate ease of doing business, the compounding proceeding rules were comprehensively reviewed in consultation with the Reserve Bank of India. The emphasis has been on enabling provisions to expedite and streamline the processing of compounding applications, introduction of digital payment options for application fees and compounding amounts, and a focus on simplification and rationalization of the provisions to eliminate ambiguity and clarify the process. These amendments indicate commitment of the Government towards promoting \u2018ease of investment\u2019 for investors and \u2018ease of doing business\u2019 for businesses.<\/span><\/p>\n

To read more:\u00a0<\/b><\/p>\n

https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2054177<\/span><\/a>\u00a0\u00a0<\/span><\/p>\n

Related Services: FEMA Consulting<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2024 issued by MCA and SEBI.\u00a0 MCA UPDATE IEPFA upgrades Call Centre and IVRS Support With New Toll-Free Number \u2014 14453 This new toll-free number replaces the old toll-free number 1800 114 667 and is designed to provide users […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[442],"tags":[],"class_list":["post-2156","post","type-post","status-publish","format-standard","hentry","category-transaction-regulatory-advisory-services"],"yoast_head":"\nTransaction & Regulatory Advisory Services Alert September 2024<\/title>\n<meta name=\"description\" content=\"In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2024 issued by 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