2021-06-21 11:30:04
Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA for Regular Updates:
• The Central Government has extended the tenure of appointment of Shri Santosh Kumar Mohanty as Whole-Time Member of the Securities and Exchange Board of India for a period of two years beyond 24.06.2021 i.e. upto 24.06.2023 or until further orders, whichever is earlier
• The Employees’ State Insurance Corporation, has notified the scheme ESIC COVID-19 RELIEF SCHEME under Section 19 of the Act as a welfare measure for the Insured Persons who are employees under Section 2(9) of the ESI Act under which in case of death of IP due to COVID-19, the eligible dependant family members of IP will be paid periodic payments directly to their bank accounts.
• The Central Government has specified that such housing financial companies registered under sub-section (5) of section 29A of the National Housing Bank Act, 1987, having assets worth rupees one hundred crores and above, as financial institutions for the purposes of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
• The SEBI had prescribed the guidelines for participation of mutual fund schemes in Interest Rate Swaps (IRS). In this regard based on the feedback received from the industry, the SEBI has decided to modify norms for investment and disclosure by Mutual Funds in Derivatives wherein it has specified that Mutual Funds may enter into plain vanilla Interest Rate Swaps (IRS) for hedging purposes.
• MCA has notified amendment to the Companies (Creation and Maintenance of databank of Independent Directors) where sub-rule 7 has been inserted to rule 3 providing that in case of delay on the part of an individual in applying to institute for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the institute shall allow such inclusion or renewal, u/r 6 of the aforesaid Rules after charging a further fees of Rs. 1000 on account of such delay.
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