BSE clarifies that there is no relaxation for trading window restrictions
The Bombay Stock Exchange has clarified vide circular dated March 31, 2020 that SEBI has provided no relaxation in applicability of the trading window restrictions with regard to financial results for Quarter / FY ending March 31, 2020.
MCA introduces “FRESH START SCHEME” for companies to lower compliance burden
Companies Fresh Start Scheme 2020’ enables companies to make good of any filing-related defaults, with immunity from penal proceedings and exemption of additional fee, irrespective of duration of default, and make a fresh start as a fully compliant entity.
MCA Modifies the LLP Settlement scheme 2020.
The Ministry of Corporate Affairs vide its notification dated 30th March 2020 has revised the “LLP Settlement Scheme, 2020″ to reduce the compliance burden due to the unprecedented public health situation caused by Covid-19.
SEBI extends the due date for regulatory filing for AIFs and VCFs.
In order to reduce the compliance burden on Venture Capital Funds (VCF) and Alternative Investment Funds (AIF), has extended the due date for regulatory filings for the periods ending March 31, 2020, and April 30, 2020, by two months.
SEBI relaxes compliance with requirements pertaining to Portfolio Managers.
The Securities and Exchange Board of India (SEBI) vide its notification dated 30th March 2020 has extended the timeline by two months for certain regulatory compliance to be made by Portfolio Managers.
RBI reduces the Cash Reserve Ratio of all banks
Cash Reserve Ratio of all banks reduced by 100 basis points from 4.00 percent to 3.00 percent of their Net Demand and Time Liabilities with effect from March 28, 2020, for a period of one year.
The Finance Act, 2020
The finance Bill 2020 tabled in the parliament following the prolonged and promising budget speech by the Finance Minister, provides many expectations for the future of the economy and expiations for the past hardships of different sectors in the economy, including provisions for drastic restructuring of the tax regime.
MCA clarifies that contribution made to PM-CARES Funds shall qualify as CSR expenditure
The Ministry of Corporate Affairs vide its notification dated 28th March 2020 has clarified that any contribution made by corporate towards PM-CARES Fund will be considered as Corporate Social Responsibility expenditure under the Companies Act 2013.
RBI raises the borrowing limit of scheduled banks under the Marginal standing facility
The RBI has decided to raise the borrowing limit of Scheduled Banks (excluding Regional Rural Bank) under the Marginal Standing Facility scheme from 2 percent to 3 percent of their Net Demand and Time Liabilities (NDTL) outstanding at the end of the second preceding fortnight with immediate effect, till June 30, 2020.
Government of Odisha orders stoppage of all construction works
Immediate stoppage of all construction works across the State of Odisha, except construction work for health care facilities and work related to COVID-19.