Consultation on Draft Amendments to Master Circulars for REITs
The amendment provides that the Eligible Unitholder(s) shall be entitled to nominate only one Unit holder Nominee Director, subject to the unit holding of such Eligible Unit holder(s) exceeding the specified threshold. If the right to nominate one or more directors on the Board of Directors of the Investment Manager is available to any entity (or to an associate of such entity) in the capacity of shareholder of the Investment Manager or lender to the Investment Manager or the REIT (or its Hold Co(s) or SPVs), then such entity in its capacity as unitholder, shall not be entitled to nominate or participate in the nomination of a Unitholder Nominee Director.
SEBI Consultation on Draft Amendments to Master Circulars for InvITs
Public comments are invited on the draft Circulars -Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024”. The comments/ suggestions should be submitted by latest by July 29, 2024.
SEBI has revised prudential norms for passive schemes regarding exposure to securities of group companies of the sponsor of Mutual Funds
SEBI has mandated that no Mutual Fund scheme shall make any investment in the listed securities of group companies of the sponsor which is in excess of 25 per cent of the net assets of the scheme, except for investments by equity oriented exchange traded funds(ETFs)and Index Funds.
BBPS has restructured the bill payment landscape
The Bharat Bill Payment System (BBPS) has simplified the way customers pay their bills, providing a seamless, secure, and efficient platform that caters to the needs of both customers and billers.
Central Consumer Protection Authority directs ‘Yatra’ an online Travel Platform to refund booking amount to consumers affected due to Covid-19 lockdown
o further facilitate timely processing of refunds to consumers, CCPA issued an order on 27.06.2024 wherein it directed Yatra to set up dedicated arrangements at the National Consumer Helpline (NCH).
Report of the Expert Committee on Development of Pension Products at GIFT IFSC
The report recommends a comprehensive regulatory framework that strikes a balance between encouraging voluntary participation and safeguarding the interests of the contributors. The Committee has also analysed the tax design and proposed a tax framework with crucial recommendations to make the product attractive.
IFSCA guidelines and provisions for Direct Market Access (DMA) facility and Sponsored Access (SA) facility shall apply to bullion guidelines
International Financial Services Centres Authority has prescribed that the IFSCA guidelines and provisions for Direct Market Access (DMA) facility and Sponsored Access (SA) facility offered by broker dealers to their clients for trading on the stock exchanges in the IFSC shall also apply, mutatis mutandis, to Bullion Exchange, Bullion Trading Members and Bullion Clearing Members.
DoT has announced call for proposals titled “Quantum Standardization and Testing Labs”
The main objective is to accelerate research and development in quantum technologies, ensuring the interoperability, reliability, and security of quantum communication systems. These labs will serve as innovation hubs, uniting quantum technology developers, testing equipment manufacturers, and academic researchers to explore and harness the full potential of quantum technologies for the benefit of all citizens.
MCA relaxation for filing of Form BEN-2
Keeping in view the above, it has been decided to allow additional time of 15 days, without levying additional fees, to the stakeholders, in cases where the due dates for filing of these 02 forms fall during the period between 04.07.2024 and 14.07.2024.
MCA has provided Extension of time for Filing of PAS-7
Stakeholders may file requisite details in terms of Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 through Web-Form pas 7 without payment of additional fees up to 05.08.2024.
