Corporate Updates – 14-04-2016


MCA has issued the much awaited Circular in respect of “Relaxation of additional fees and extension of last date of filing of various e-forms under the Companies Act". MCA has launched V2R2 on 28th March, 2016, downtime was given to Infosys from 25th March, 2016 to 27th March, 2016. Since the launch of the system, a number of stakeholders have faced issues and representations have been received from stakeholders to resolve the issues and allowing waiver of additional fee till the new system stabilizes. MCA has accordingly decided to relax the additional fee payable on e-forms which are due for filing by Companies between 25th March, 2016 to 30th April, 2016 as one time waiver of additional fee and it is also clarified to stakeholders that if such due e-forms are filed after 10.05.2016, no such relaxation shall be allowed.


Securities and Exchange Board of India vide press release issued an amended guidance note on SEBI (Prohibition of Insider Trading) Regulations, 2015 to clarify that exit offer is also exempted from the restriction on contra trade under the PIT Regulations. The amended guidance note has been issued pursuant to amendment of SEBI (ICDR) Regulations, 2009 which provides that an exit opportunity is available to dissenting shareholders in terms of sections 13 and 27 of the Companies Act. The amended note provides the answers to queries received and guidance sought by market participants. The guidance note has been amended with effect from February 17, 2016.

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