This newsletter aims to briefly discuss the key corporate law developments during the period between February 01, 2021 – March 31, 2021.
UPDATES ISSUED BY MINISTRY OF CORPORATE AFFAIRS (“MCA”)
MCA permits mergers or amalgamations between startups and small companies.
February 1, 2021: The Ministry of Corporate Affairs (“MCA”) vide notification number G.S.R. 93(E) amended Rule 25 of the Companies More...
Change in threshold limit of small company.
February 1, 2021: MCA vide notification number G.S.R. 92(E) amended the Companies (Specification of Definitions Details) Rules, 2014 increasing the threshold limit of More...
Companies (Incorporation) Second Amendment Rules, 2021 relating to One Person Company.
February 1, 2021: Pursuant to the Companies (Incorporation) Second Amendment Rules, 2021 (“Second Amendment Rules”) the following amendments have More...
Changes in provisions related to further issue of share capital.
February 11, 2021: MCA vide the Companies (Share Capital and Debentures) Amendment Rules, 2021, introduced Rule 12A in the Companies (Share Capital and Debentures) More...
Appointment of date for enforcement of provisions relating to Producer Companies and Repeal of Certain Enactments and Savings.
February 11, 2021: MCA vide a notification appointed February 11, 2021 as the date on which Section 52 (provisions in relation to Producer Companies) and Section 66 More...
MCA incorporates provisions for ‘companies not to be considered as listed companies’.
February 19, 2021: MCA issued the Companies (Specification of definitions details) Second Amendment Rules, 2021 to further amend the Companies More...
MCA extends certain Sections of Companies Act, 2013 to LLP Act, 2008.
February 22, 2021: MCA has issued an update on its website which extends following Sections of the Act to the Limited Liability Partnership Act, 2008 (LLP Act, 2008) with certain More...
MCA introduces Form MGT-7A to be filed by OPCs; revises Form MGT-7.
March 5, 2021: MCA vide its notification number G.S.R. 159(E) amended the Companies (Management and Administration) Rules, 2014. A significant amendment was made More...
MCA establishes Central Scrutiny Centre for scrutiny of STP forms.
March 18, 2021: Straight Through Process (“STP”) is a system wherein the filing of forms on the MCA portal and related transactions are carried out through an automated process More...
MCA revises provisions relating to remuneration payable to managerial persons.
March 18, 2021: MCA vide its notification number S.O. 1256(E) has revised the limit of remuneration payable to managerial persons. Further, MCA has enforced More...
Commencement notifications for some provisions of the Companies (Amendment) Act, 2020.
March 24, 2021: MCA vide a notification dated March 24, 2021 has announced that the provisions of Sections 23 More...
MCA enhances the list of matters to be included in the auditor’s report.
March 24, 2021: MCA vide its notification has amended the Companies (Audit and Auditors) Rules, 2014 whereby it has made some additions to the provisions of Rule 11 More...
Companies to use accounting software which has a feature of recording audit trail.
March 24, 2021: The Companies (Accounts) Rules, 2014 provides for the manner of preparing and maintaining the books of accounts of a company and matters incidental thereto. More...
UPDATES ISSUED BY RESERVE BANK OF INDIA (“RBI”)
Circular on Remittances to International Financial Services Centres (IFSCs) in India under the Liberalised Remittance Scheme (LRS).
February 16, 2021: International Financial Services Centres (“IFSCs”) are set up under Section 18 of the Special Economic Zones Act, 2005 and cater to customers outside More...
Master Direction on Digital Payment Security Controls.
February 18, 2021: RBI issued the Master Direction on Digital Payment Security Controls which provides necessary guidelines for the Regulated Entities More...
Payment Aggregators get a six-month relief for implementing RBI instructions.
March 31, 2021: RBI had issued a clarification on September 17, 2020 to its circular on Guidelines on Regulation of Payment Aggregators and Payment Gateways More...
RBI extends the timeline for migrating to framework for registering e-mandates for recurring online transactions.
March 31, 2021: The Payment and Settlement Systems Act, 2007 (“PSA”) regulates the payment systems in India. RBI had issued several circulars under PSA, wherein it had provided More...
UPDATES ISSUED BY SECURITIES EXCHANGE BOARD OF INDIA (“SEBI”)
SEBI releases revised disclosure formats under Prohibition of Insider Trading Regulations.
February 9, 2021: The Securities Exchange Board of India (“SEBI”) released revised disclosure formats under Regulation 7 of SEBI (Prohibition of Insider Trading) Regulations, More...
SEBI issues clarification on transfer and transmission of shareholding among immediate relatives and its effect on change in control.
March 25, 2021: SEBI vide its earlier circular number CIR/MIRSD/14/2011 dated August 2, 2011, had specified the procedure for intermediaries (viz. stock-brokers, merchant bankers, More...
AUTHORS
Yosham Vardhan Ankit Agarwal
Associate Partner Senior Associate
yosham.vardhan@linklegal.in ankit.agarwal@linklegal.in
Abhinav Anand Divya Patil
Associate Associate
abhinav.anand@linklegal.in divya.patil@linklegal.in
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AWARDS AND RECOGNITIONS
  • Ranked as one of the Top 15 Law Firms in India in M&A and Private Equity League Tables by VCCEdge (Q1 2021).
  • Ranked in the India Loans League Table Report FY 2020-21 published by Debtwire (Acuris).
  • Ranked Law Firm in the Media Law International 2021 Ranking.
  • Firm has featured amongst winners of "Deals of the Year 2020" under M&A and Joint Ventures by India Business Law Journal's Deals of the Year 2020 report.
  • India Business Law Journal’s 2020 Indian Law Firm Awards in Aviation, Energy & Natural Resources and Infrastructure & Project Finance.
  • Winner of the ‘Utility Deal of the Year’ award at The Asset Triple A Infrastructure Awards 2020.
  • Ranked #15 in Top Ranked Law Firms: India by Top Ranked Legal 2020 for Aviation, Banking & Finance, Competition/ Antitrust, Corporate/ M&A and Dispute Resolution.
  • Capital Markets Law Firm of the Year Award at BW Legal World Global Legal Leaders Awards 2020.
  • Infrastructure & Project Finance Law Firm of the Year at Legal Era Indian Legal Awards 2019-20.
  • Recognised as one the Largest Law Firms in India in Asian Legal Business' Asia's Top 50 Largest Law Firms list.
  • Ranked as one of the Top 20 Law Firms in India in M&A and Private Equity League Tables by Venture Intelligence 2020.
  • Recognised as one of the 'Best Brands' at the Economic Times - Best Brands Summit 2019.
  • Ranked #14 among top 40 Indian Law Firms by RSG Consulting in 2019.
  • Ranked highly in various practice areas such as Aviation, Projects, Infrastructure, Energy, Construction, Banking & Finance, Corporate and M&A, Dispute Resolution, International Arbitration, Competition/ Antitrust, Restructuring & Insolvency, Capital Markets, Labour & Employment, TMT, etc. by Chambers and Partners, The Legal 500, RSG, Benchmark Litigation, India Business Law Journal, Asian Legal Business, IFLR1000, asialaw, among others.
  • Partners of the Firm highly ranked by leading global publications including Chambers and Partners, The Legal 500, Benchmark Litigation, India Business Law Journal, Asian Legal Business, IFLR1000, asialaw, among others.
Disclaimer:
The contents of this newsletter are intended for information purposes only. Parts of this newsletter are based on news reports and have not been independently verified. The newsletter is not in the nature of a legal opinion or advice and should not be treated as such. Link Legal does not warrant the accuracy and completeness of this newsletter, and readers are encouraged to seek professional advice before acting upon any of the information provided therein. In no event will Link Legal be liable for any loss whatsoever arising out of the use of or reliance on the contents of this newsletter. This newsletter is the exclusive copyright of Link Legal and may not be circulated, reproduced or otherwise used by the intended recipient without the prior permission of its originator.
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