RPT compliances by subsidiaries of listed entities (Presentation)
– Vinita Nair & Sikha Bansal | corplaw@vinodkothari.com
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Guide to Compliance Certificate for Structured Digital Database under PIT Regulations
– Vinod Kothari | corplaw@vinodkothari.com
The requirement of maintaining a structured digital database (SDD) arises from Reg 3 (5) of the PIT Regulations, 2015. The PIT Regulations itself does not talk about any compliance certificate as to maintenance of the SDD. However, the requirement of such a certificate emanates from the mails sent by national stock exchanges dated 4th August, 2022.
The requirement of the certificate was made effective from Q1 of 2022-23; however, no format of the certificate was provided so far. Vide the BSE’s notice no. 20221028-15 and 20221028-16 dated 28th October, 2022, issued for equity and debt listed entities respectively, the stock exchange has provided the format of the certificate. The said letter also states that the compliance certificate may be given either by the compliance officer of the company, or by a practising company secretary.
In this write up, we have tried providing a basic guidance on the compliance certificate. While the article is primarily focused on certification by a practising professional, the approach may, with appropriate modifications, apply to certification by the compliance officer too.
Read more →Introduction of the Digital Rupee (e₹)
RBI announces the launch of the first pilot
– Subhojit Shome, Senior Executive | finserv@vinodkothari.com
On 7th October, 2022 the RBI published a Concept Note[1] on Central Bank Digital Currency (CBDC) that intended to “create awareness about CBDCs in general and the planned features of the digital Rupee, in particular”. Chapter 8 (“Way Forward”) of the Concept Note provided for a phased approach towards implementation that involved building a prototype and running large scale pilots before actual launch of the ‘Digital Rupee’. The guiding principle being that the introduction of Digital Rupee should cause only a minimal or no disruption to the financial system.
Read more →Comparison between NBFC-ICC, CIC and AIF
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Our resources on related topics – https://vinodkothari.com/category/financial-services/
Workshop on Structured Digital Database for Insider Trading: Preparing for the Compliance Certificate
| Click here to register for the workshop – https://forms.gle/JgWXqp2JJUBX4wPm8 |
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BSE & NSE simplify the compliance certificate format for Structured Digital Database (SDD), allows PCS certification
Samagrata – September 2022
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Guidelines on Information and Cyber Security extended to Insurance Intermediary
– Kaushal Shah, Executive | kaushal@vinodkothari.com
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IRDA relaxes stringent norms for Common Directors among insurance intermediaries
– Kaushal Shah, Executive | kaushal@vinodkothari.com
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Our related write-up:
IRDA rolls out conditions for common directorship in insurance company and intermediary – https://vinodkothari.com/2022/09/irda-rolls-out-conditions-for-common-directorship-in-insurance-company-and-intermediary/
Write ups on Corporate Laws – https://vinodkothari.com/category/corporate-laws/
The essence of mens rea in insider trading
Supreme Court contradicts its previous ruling while considering the ‘intent’ in insider trading
– CS Aisha Begum Ansari | aisha@vinodkothari.com
Insider trading means dealing in the securities of the listed company on the basis of unpublished price sensitive information (‘UPSI’), thereby gaining an unfair advantage over the market. A person guilty of insider trading is punishable with a monetary penalty[1] under section 15G of the SEBI Act, 1992 (the ‘Act’). Further, under section 24 of the Act, SEBI can punish a person with imprisonment of upto Rs. 10 years or with a fine of upto Rs. 35 crores or both for violation of the Act and its regulations.
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