2020-TIOLCORP-NEWS-61 | Tuesday, March 24, 2020

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COMPANIES LAW
 

2020-TIOLCORP-14-HC-DEL-IBC

Tata Steel Bsl Ltd Vs UoI

Whether if resolution plan with respect to insolvent company has been approved by NCLT then such company cannot be prosecuted for any offence committed prior to commencement of CIRP - YES: HC

- Order passed in favour of petitioner: DELHI HIGH COURT

2020-TIOLCORP-38-NCLAT

Ashish Chaturvedi Vs Inox Leisure Ltd

Whether where the delay in communication of the NCLT order is attributable to the act of the Court/Tribunal, the period of resolution process is extendable beyond the period prescribed u/s 12 on application by the Interim Resolution Professional for exclusion of time - YES: NCLAT

- Appeal dismissed: NCLAT

SEBI CIRCULAR
Relaxation from compliance to REITs and InvITs due to the CoVID -19 virus pandemic

Encumbrance on units of Real Estate Investment Trusts (REITs)

Encumbrance on units of Infrastructure Investment Trusts (InvITs)

Interoperability among Clearing Corporations: Revision of criteria for entering the risk-reduction Mode

Relaxation in compliance with requirements pertaining to Mutual Funds

 
MCA CIRCULAR
Clarification on spending of CSR funds for COVID-19  
HIGH LIGHTS (SISTER PORTAL)
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PM calls for prevention of hoarding & black marketing

No impact of COVID-19 on cargo vessels: Minister

Media spreading wrong news on availability of N-95 masks: Govt

TOG

COVID 19 - cargo vessels not impacted; cruise ships barred from docking: MoS

EPFO scrambles to ensure timely pension credit

 

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NEWS FLASH

COVID-19 effect: FinMin & Corp Affairs Ministry takes slew of economic measures

GST filing: no late fee for Companies having less than 5 cr turnover

Companies Act - Commencement of business - 6 more months given to file report + Relief for non-resident Directors + Relief in mandatory investments in debentures and deposits

IBC - Govt hikes threshold limit from Rs 1 lakh to Rs 1 Crore with immediate effect + may suspend certain Sections 7, 9 & 10 of IBC for six months if COVID-19 scare continues

MCA 21 Registry - FM announces moratorium up to Sept 30 - no fee for late filing + Relief from mandatory Board Meetings for two quarters + Waiver from compliance with meeting held by Independent Directo

COVID 19 effect - ISPs scramble to meet increased broadband use; report 10% increase in internet traffic

Govt working on economic package to cushion impact of lockdown: Fin Min

Automobile firms shift gear to manufacture ventilators to meet soaring demand

Financial damage caused by COVID-19 will take several years to repair: OECD chief

 
CORP BRIEF
Labour Cess has Rs 52K Crore; Gangwar asks States to use it for labour welfare

Invest India launches Business Immunity Platform

COVID 19 - EPFO rushes to ensure timely credit of pensions

Govt, industry join hands for steady supply of medical equipment

 
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