Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds in-specie
During the liquidation period of an AIF’s original scheme, if the decision to launch a Liquidation Scheme is made, the AIF must obtain consent from at least 75% of investors based on the value of their investments in the original scheme. This ensures that a significant majority of investors are in agreement with the liquidation process.
Standardized approach to valuation of investment portfolio of Alternative Investment Fund
AIF securities covered under the SEBI (Mutual Funds) Regulations, 1996, the valuation process should align with the norms specified for mutual funds. For securities not covered under the aforementioned norms, AIFs should follow the valuation guidelines endorsed by an AIF industry association representing at least 33% of SEBI registered AIFs.
MCA extends due date to file DPT-3 without additional fees
Keeping in view the transition of MCA-21 Portal from Version -2 to Version -3, it has been decided to allow companies to file Form DPT -3 for the financial year ended on 31st March 2023 without paying additional fees up to 31st July 2023.
Ministry of Law and Justice announces TeleLaw initiative
Tele-Law means the use of communications and information technology for the delivery of legal information and advice. This e-interaction between lawyers and people would be through the video-conferencing infrastructure available at the CSCs.
IFSCA clarification regarding Direct Market Access (DMA) facility
Direct Market Access (DMA) is a facility which allows Broker-Dealers to offer their clients direct access to the trading system of the Stock Exchange, through the Broker-Dealer’s trading systems, without any manual intervention by the Broker-Dealer.
Consumer Protection (Direct Selling) (Amendment) Rules, 2023
“Direct selling entity” is redefined to mean the principal entity which sells or offers to sell goods or services directly through a network of sellers, but does not include an entity which is engaged in a Pyramid Scheme or money circulation scheme.
Draft Chandigarh Energy Conservation Building Code, 2023
The Code is applicable to buildings or building complexes that have a connected load of 50 kW or greater or
a contract demand of 60 kVA or the plot area of building is equal to or more than 1000 sqm or the built up
area of building is equal two or more than 2000 sqm (excluding non-conditioned spaces in basement)
greater and are intended to be used for commercial purposes. Buildings intended for private residential
purposes only are not covered by the Code.
Government Promotes Organic Products in India, Emphasizes Reliable Testing
The Food Safety and Standards Authority of India (FSSAI) has issued directions to all food testing laboratories towards promoting organic products in the country by focusing on the development and strengthening of cooperative societies.
FSSAI launches Surveillance Drive to Combat Spurious Drugs Manufactured by Nutraceutical Companies
This intensive drive will continue throughout the month, with plans to inspect 25-30 percent of the nutraceutical manufacturing facilities in Himachal Pradesh by the end of June 2023. The aim is to identify and take immediate action against defaulting FBOs to ensure consumer safety and the integrity of the nutraceutical industry.
Ministry of AYUSH publishes Handbook on Common Yoga Protocol
The booklet contemplates the Common Yoga Protocol (CYP) and it also permits leading yoga institutions to incorporate institutional yogic practices such as pranayama, yoga nidra, dhyana and satsang before sankalpa.
