Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023
These new rules come into force upon their publication in the Official Gazette, signaling the government’s commitment to swift implementation. They aim to streamline the issuance and management of securities and are particularly relevant for public and private companies.
PFRDA mandates Instant Bank Account Verification
Penny Drop Verification involves depositing a small amount of money into the customer’s bank account and then asking the customer to confirm the deposit. By verifying the amount of the deposit, the bank can ensure that the account information provided by the customer is correct.
Centre launches ‘Dark Patterns Buster Hackathon 2023’ to design & prototype innovative app or software that can detect dark patterns on e-Commerce platforms
The Department of Consumer Affairs, Government of India in collaboration with IIT (BHU), launched Dark Patterns Buster Hackathon 2023 here today. The deliverables of the Hackathon will be to design & prototype innovative app or software based solutions that can detect the use, type and scale of following dark patterns for e-Commerce platforms.
Digi Yatra Foundation to Perform Aadhaar Authentication at Airports
The Ministry of Civil Aviation issued a notification on the 17th of October 2023, regarding the utilization of digital platforms to enhance governance. Digi Yatra Foundation will conduct aadhaar authentication for passenger verification and e-KYC (Know Your Customer) purposes on the Digi Yatra App or Program.
Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration
Agency (KRA) Regulations, 2011
Clients whose KYC are not found valid by KRAs for the PANs uploaded upto August 31, 2023, such UCCs (Unique Client Code) shall neither be Permitted to Trade on the Exchange, nor will they be able to square up their open positions, if any, w.e.f. November 18, 2023, until they comply with the requirement.
Incorporation services can now be availed through NSWS portal
The Ministry of Corporate Affairs has informed the stakeholders that the ministry has integrated its filings, registrations and incorporations with the National Single Window System (NSWS).
The processing of applications for name reservation and incorporation at the Central Reservation Centre (CRC) is made faceless and random
The applications if sent for resubmissions are normally not processed by the same official who has processed the application at the first instance. Stakeholders may inform the Ministry in case of any malpractice or irregularity on the part of any official/officer at CRC or any professional with supporting evidences at CVO-MCA@GOV.IN for taking action in accordance with the extent CVC guidelines
Clarification on holding of Annual General Meeting (AGM) and EGM through video conference or other Audio visual
However, it is hereby clarified that General Circular shall not be construed as conferring any extension of statutory time for holding of AGMs by the companies under the Companies Act, 2013 (thc Act) and the companies which have not adhered to the relevant statutory timelines shall be liable to legal action under the appropriate provisions of the Act.
MCA ensures that the processing of application forms for the purpose of name reservation and incorporation at the Central Reservation Centre (CRC) is faceless and randomized
The applications if sent for resubmissions are normally not processed by the same official who has processed the application at the first instance. Stakeholders may inform the Ministry in case of any malpractice or irregularity on the part of any official/officer at CRC or any professional with supporting evidences at CVO-MCA@GOV.IN for taking action in accordance with the extent CVC guidelines.
MCA extends the tenure of the Company Law Committee by one year
The ongoing review of corporate laws by the Company Law Committee is thereby extended by one year.
