MCA amends Schedule III of Companies Act

The amendment provides the disclosures to be made by a company which has advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall lend or invest the same.

The Insurance (Amendment) Act, 2021.

Indian insurance company means any insurer being a company that is formed and registered under the Companies Act, 1956, in which the aggregate holdings of equity shares by foreign investors including portfolio investors, do not exceed seventy-four per cent. of the paid-up equity capital of such Indian insurance company.