About Article:

This article contains various Compliance requirementsfor the Month of May, 2022under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.

If you think compliance is expensive, try non‐ compliance”

Compliance Requirement Under

1.Income Tax Act, 1961

2.Goods & Services Tax Act, 2017 (GST)and Important Updates / Circulars

3Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications

4.Other Statutory Lawsand Updates

5.SEBI (Listing Obligations &DisclosureRequirements) (LODR) Regulations, 2015

6. SEBI Takeover Regulations 2011

7.SEBI (Prohibition of Insider Trading) Regulations, 2015

8.SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

9.SEBI (Buyback of Securities) Regulations, 2018

10. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications
11. Companies Act, 2013 (MCA/ROC Compliance) and Notifications
12. Insolvency and Bankruptcy Board of India (IBBI) Updates

1. Compliance requirement under Income Tax act, 1961

Sl.	Compliance Particulars	Due Dates
1	Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month.	07.05.2022
2.	Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, and 194M in the month of March 2022.	15.05.2022
3	​Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of April 2022.	15.05.2022
4	Due date of furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April 2022 has been paid without the production of a challan.	15.05.2022
5	​Quarterly statement of TCS deposited for the quarter ending March 31, 2022.	15.05.2022
6	Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194-IM,  in the month of December 2021.	30.05.2022
7	Due date of issuance of TCS certificates for the 4th Quarter of the Financial Year 2021-22.	30.05.2022
8	​Quarterly statement of TDS deposited for the quarter ending March 31, 2022.	31.05.2022
9	Due date for furnishing of statement of Specified financial transaction as per Section 285BA (1).	31.05.2022
10	Due date for e-filing of annual statement of reportable accounts by reporting financial institution.	31.05.2022
11	“1. Due date for filing ​Application for allotment of PAN of non-individual resident person, which enters into a financial transaction of Rs. 2,50,000 or more during FY 2021-22 and has not been allotted any PAN.   ​2. Application for allotment of PAN in case of person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who has not allotted any PAN”.	31.05.2022

 

• Important Notifications – For the month of April – 2022:

 

Sl.	Particulars of the Notification(s)	File No. / Circular No.	Link(s)
1.	​Faceless Jurisdiction of Income-tax Authorities Scheme, 2022	Notification No. 15/2022	Click Here
2.	TheTaxation and OtherLaws (Relaxation and Amendment of Certain Provisions) Act, 2020	Notification No. 16/2022	Click Here
3.	The Income-tax (Third Amendment)Rules, 2022.	Notification No. 17/2022	Click Here
4.	Thee-Assessment of Income Escaping Assessment Scheme, 2022.	Notification No. 18/2022	Click Here
5	TheFaceless Inquiry or ValuationScheme, 2022	Notification No. 19/2022	Click Here
6	Notification under sub-section (1G) of section 206C of the Income-tax Act, 1961 in relation to non-resident individual visiting India	Notification No. 20/2022	Click Here
7	TheIncome-tax (fourthAmendment) Rules, 2022	Notification No. 21/2022	Click Here
8	TheIncome-tax (5thAmendment) Rules, 2022	Notification No. 23/2022	Click Here
9	TheIncome-tax (6thAmendment) Rules, 2022	Notification No. 24/2022	Click Here
10	The Income-tax (Seventh Amendment)Rules, 2022.	Notification No. 26/2022	Click Here
11	The e-Dispute Resolution Scheme,2022	Notification No. 27/2022	Click Here
12	The Income-tax (8th Amendment) Rules, 2022.	Notification No. 28/2022	Click Here
13	“The SomnathTemple managed by Shree Somnath Trust (PAN: AAATS9555Q)”	Notification No. 29/2022	Click Here
14	‘Rajasthan Electricity Regulatory Commission’ (PAN AAABR0296D)	Notification No. 30/2022	Click Here

 

 

 

2. Compliance Requirement underGST, 2017

 

1. Filing of GSTR –3B / GSTR 3B QRMP

 

1. a) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

 

Tax period	Due Date	No interest payable till	Particulars
April, 2022	20thMay, 2022	–	Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year.   Due Date for filling GSTR – 3B return for the quarter of January to March 2022 for the taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of return under QRMP.

 

b). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

 

Tax period	Due Date	No interest payable till	Particulars
April, 2022	22nd May, 2022		Due Date for filling GSTR – 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

 

 

c). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

 

Tax period	Due Date	No interest payable till	Particulars
April, 2022	24thMay, 2022
Group B States:Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

1. Filing Form GSTR-1:

Tax period	Due Date	Remarks
Monthly return (April, 2022)	11.05.2022	“1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceeding year.   2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP”

 

 

1. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

 

Form No.	Compliance Particulars	Timeline	Due Date
GSTR-5 & 5A	Non-resident ODIAR services provider file Monthly GST Return	20th of succeeding month	20.05.2022
GSTR -6	Every Input Service Distributor (ISD)	13th of succeeding month	13.05.2022
GSTR -7	Return for Tax Deducted at source to be filed by Tax Deductor	10th of succeeding month	10.05.2022
GSTR -8	E-Commerce operator registered under GST liable to TCS	10th of succeeding month	10.05.2022

 

1. GSTR – 1 QRMP monthly / Quarterly return

 

Form No.	Compliance Particulars	Timeline	Due Date
Details of outward supply-IFF&   Summary of outward supplies by taxpayers who have opted for the QRMP scheme.	a)      GST QRMP monthly return due date for the month of April, 2022 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.   b)      Summary of outward supplies by taxpayers who have opted for the QRMP scheme.	13th of succeeding month  – Monthly   Quarterly Return	13.05.2022

 

1. GST Refund:

 

Form No.	Compliance Particulars	Due Date
RFD -10	Refund of Tax to Certain Persons	18 Months after the end of quarter for which refund is to be claimed

 

Kindly Note:

For GSTR – 3B -Tax Liability Payment: 25.05.2022: Due Date for Payment of Tax Liability for the taxpayer with Aggregate turnover up to INR 5 crores during previous year and who has opted for Quarterly filing of return under QRMP.

• GST UPDATES –April, 2022:

 

Sl.	Notification Particulars	Notification No.	Link(s)
1.	Advisory to composition taxpayers	GSTN Update 536	Click Here
2.	Module wise new functionalities deployed on the GST Portal for taxpayers	GSTN 533	Click Here
3.	Seeks to amend notification no. 14/2019-Central Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC	04/2022- Central Tax	Click Here
4.	Seeks to amend notification no. 10/2019-Central Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC	03/2022- Central Tax	Click Here
5.	Seeks to provide for a concessional rate on intra state supply of bricks conditional to not availing the ITC , as recommended by 45 GSTC	02/2022-Central Tax (Rate)	Click Here
6	Seeks to amend notification No. 1/2017-Central Tax (Rate)	01/2022-Central Tax (Rate)	Click Here
7	Seeks to amend notification No. 1/2017-Integrated Tax (Rate)	01/2022- Integrated Tax (Rate)	Click Here
8	Standard Operating Procedure (SOP) for Scrutiny of returns for FY 2017-18 and 2018-19	Instruction No. 02/2022-GST	Click Here

3. Key Compliances under FEMA / RBI

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / (Filing mode)
FEMA ACT 1999	Not later than 30 days from the date of issue of Capital instrument	FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India.	Form FC-GPR
FEMA ACT 1999	With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier.	Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee.	Form FC-TRS.
FEMA ACT 1999	Within30 days from the date of receipt of the amount of consideration.	A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1	Form FDI LLP-I
FEMA ACT 1999	within 60 days from the date of receipt of funds in	A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa)	Form FDI LLP-II
FEMA ACT 1999	within 30 days from the date of allotment of capital instruments	The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts	Downstream statement -Form DI & reporting at FIFP too
Types of Accounts	Capital Account and Current Account – The purpose of the capital account is to adjust the assets and liabilities of individuals outside India to persons residing in India. Thus any transaction that results in a change of the overseas assets and liabilities in India of an Indian residing outside India or transactions overseas of a person residing in India will be considered under the capital account. All other transactions fall under the category of the current account.
NRI Bank Accounts	There is option for the Non-Resident Indians to set up various bank accounts in India, like FCNR, NRE and NRO Accounts.

RBI Circulars / Notifications: April, 2022

Sl.	Particulars of the Circulars	Link
1	Bilateral Netting of Qualified Financial Contracts – Amendments to Prudential Guidelines	Click here
2	Master Direction – Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2021 – Amendment	Click here
3	Master Circular – Facility for Exchange of Notes and Coins	Click here
4	Master Circular on SHG-Bank Linkage Programme	Click here
5	Master Circular – Asset Reconstruction Companies	Click here
6	Master Circular – Scheme of Penalties for bank branches including Currency Chests for deficiency in rendering customer service to the members of public	Click here
7	Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission	Click here
8	Master Circular – Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances	Click here
9	Establishment of Digital Banking Units (DBUs)	Click here
10.	Master Circular – Management of Advances – UCBs	Click here
11.	Processing and Settlement of Small Value Export and Import related payments facilitated by Online Export-Import Facilitators – Draft Guidelines for Comments	Click here
12	RBI releases data on ECB / FCCB/RDB for February 2022	Click here
13	Compliance Function and Role of Chief Compliance Officer (CCO) – NBFCs	Click here
14	Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract	Click here
15	Overseas Direct Investment for March 2022	Click here
16	Cancellation of CoR of 22 NBFCs and One HFC	Click here
17	RBI cancels Certificate of Registration of One NBFC	Click here
18	Conversion/Switch of Government of India (GoI)’s Securities	Click here

4. Compliance under Other Statutory LAws

Applicable Laws/Acts	Timeline / Due Dates	Compliance Particulars	Forms / (Filing mode)
EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)	15.05.2022	PF Payment	ECR
ESIC (Employees’ State Insurance Act, 1948)	15.05.2022	ESIC Payment	ESI Challan
Contract Labour (Regulation &Abolition) Act, 1970	Within 15 Days of commencement/ completion of contract work	Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer	Form VI-B
Contract Labour (Regulation &Abolition) Act, 1970	Within 15 Days of commencement/ completion of contract work	Notice of commencement/ completion of contract work by the Contractor within 15 days	Form VI-A
Payment of Gratuity Rule	Within 30 Days of applicability of the Act & any change	Notice of applicability of the Act & any change	Form A or B

 

 

• Updates TRACKER under Labour LAws – April, 2022:

 

Sl.	Particulars	Link
1	#EPFO never asks its members to share their personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or on social media.	Click Here
2	Benefits of filing e-Nomination.	Click Here
3	Operational guidelines for taxing EPF issued	Click Here
4	EPFO asks PF members not to do these | Details here	Click Here
5	HC for Delhi govt reply on appointment of presiding officers in Labour Courts, Industrial Tribunals	Click Here
6	Scope of Emergency Credit Line Guarantee Scheme (ECLGS) enhanced and validity extended till 31.3.2023	Click Here
7	Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 01.01.2022	Click Here
8	National Pension Scheme For Traders	Click Here
9	Atmanirbhar Bharat Rojgar Yojana	Click Here
10	Foundation for Sustained Economic Growth	Click Here

5. SEBI – Securities Exchange Board of INDIA

 

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

 

Quarterly Compliance

Regulation reference	Timeline	For the quarter ended March
Regulation 33 (3) (a) – Financial Results along with Limited review report/ Auditor’s report :	Within 60 days from the end of the FY.	By 30th May

1. Half Yearly Compliances:

Sl. No.	Regulation No.	Compliance Period (Due Date)	Due Date
1.	Regulation 23(9)Related party transactions.	The listed entity shall make such disclosures every 6 months within 15 days from the date of publication of its standalone and consolidated financial results: Provided further that the listed entity shall make such disclosures every 6 months on the date of publication of its standalone and consolidated financial results with effect from April 1, 2023.	Within 15days of FR

Regular / Annual Compliances:

REG NO	REGULATION NO	PARTICULARS	TIMELINE
47 Advertisements in Newspapers.	47 (3) Advertisements in Newspapers	Financial results at 47 clause (b) of sub-regulation (1), shall be published within 48 hours of conclusion of the meeting of board of directors at which the financial results were approved.	48 HOURS
23 Related party transactions.	Reg 23(9) Related party transactions	The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website	30 days
24A Secretarial Audit.	Red 24A	Every listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be specified with effect from the year ended March 31, 2019. (within 60 days from the Closure of FY)	60 days from the Closure of FY
46 Website	46(2)(s)	The listed entity shall disseminate the following information under a separate section on its website separate audited financial statements of each subsidiary of the listed entity in respect of a relevant financial year, uploaded at least 21 days prior to the date of the annual general meeting which has been called to inter alia consider accounts of that financial year.]	21 days prior 1 days prior to the date of AGM

 

1. Other Quarterly compliance which included half year compliance except FR (Financial Results)

 

REG NO	REGULATION NO		PARTICULARS	TIMELINE
Intimation		Reg 29 read with Reg 33	intimation regarding item specified in clause 29(1) (a) to be discussed at the meeting of board of directors shall be given at least five days in advance (excluding the date of the intimation and date of the meeting), and such intimation shall include the date of such meeting of board of directors	at least 5 working days in advance, excluding the date of the intimation and date of the meeting
Intimations and Disclosure of events or information to Stock Exchanges.		87B: Intimations and Disclosure of events or information to Stock Exchanges. READ WITH PART E OF Schedule III	The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information:	24 HOURS
Valuation, Rating and NAV disclosure.		87C(1) (iii)	An issuer whose security receipts are listed on a stock exchange shall ensure that: the net asset value is calculated on the basis of such independent valuation and the same is declared by the asset reconstruction company within fifteen days of the end of the quarter.	15 Days
Other corporate governance requirements.		Reg 27(2)	The listed entity shall submit a quarterly compliance report on corporate governance in the format as specified by the Board from time to time to the recognised stock exchange(s) within fifteen days from close of the quarter.	15 days
Indian Depository Receipt holding pattern & Shareholding details.		69(1)	The listed entity shall file with the stock exchange the Indian Depository Receipt holding pattern on a quarterly basis within fifteen days of end of the quarter in the format specified by the Board.	15 days from end of each quarter

 

1. Event based Compliances

 

REG NO	REGULATION NO	PARTICULARS	TIMELINE
30 Disclosure of events or information.	30(6) AND Part A of Schedule III	The listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information	24 HOURS
30 Disclosure of events or information.	30(6) AND sub-para 4 of Para A of Part A of Schedule III	The listed entity shall disclose to the Exchange(s), within 30 minutes of the closure of the meeting held to consider the following: a) dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched; b) any cancellation of dividend with reasons thereof; c) the decision on buyback of securities; d) the decision with respect to fund raising proposed to be undertaken e) increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched; f) reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to; g) short particulars of any other alterations of capital, including calls;

h) financial results;

i) decision on voluntary delisting by the listed entity from stock exchange(s).30 MINUTES31A: Conditions for re-classification of any person as promoter / public31A(8)The following events shall deemed to be material events and shall be disclosed by the listed entity to the stock exchanges as soon as reasonably possible and not later than twenty four hours from the occurrence of the event:
(a) receipt of request for re-classification by the listed entity from the promoter(s) seeking re-classification;
(b) minutes of the board meeting considering such request which would include the views of the board on the request;
(c) submission of application for re-classification of status as promoter/public by the listed entity to the stock exchanges;
(d) decision of the stock exchanges on such application as communicated to the listed entity;24 HOURS34 Annual Report.34(1)(b)In the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.]48 HOURS44 Meetings of shareholders and voting44(3)The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.48 HOURS47 Advertisements in Newspapers.47 (3) Advertisements in NewspapersThe listed entity shall publish the information specified in 47(1) in the newspaper simultaneously with the submission of the same to the stock exchange(s). The same is reproduced below
47(1) (a) notice of meeting of the board of directors where financial results shall be discussed (c )statements of deviation(s) or variation(s) as specified in sub-regulation (1) of regulation 32 on quarterly basis, after review by audit committee and its explanation in directors report in annual report;
(d) notices given to shareholders by advertisement

 

 

 

 

 

Simultaneously

–SCHEDULE III PART PART A 7(A)resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor24 HOURS–SCHEDULE III PART PART A 7(B)In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities:
i. Detailed reasons for the resignation of independent directors as given by the said director shall be disclosed by the listed entities to the stock exchanges.
ii. The independent director shall, along with the detailed reasons, also provide a confirmation that there is no other material reasons other than those provided.
iii. The confirmation as provided by the independent director above shall also be disclosed by the listed entities to the stock exchanges along with the detailed reasons as specified in sub-clause (i) above.]7 days from the date of resignation7 Share Transfer Agent.Reg 7(4) & (5) Share Transfer Agent.The listed entity shall intimate any change or appointment of a new share transfer agent, to the stock exchange(s) within seven days of entering into the agreement.7 DAYS29Reg 29(1)The intimation required under 29 (1), shall be given at least two working days in advance, excluding the date of the intimation and date of the meeting Reg 29(1) is reproduced below: (b) proposal for buyback of securities ; (c) proposal for voluntary delisting by the listed entity from the stock exchange(s); (d) fund raising by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price:
Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. (e) declaration/ recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. (f) the proposal for declaration of bonus securities where such proposal is communicated to the board of directors of the listed entity as part of the agenda papers: at least 2 working days in advance, excluding the date of the intimation and date of the meeting31 Holding of specified securities and shareholding pattern.Reg 31 (1)(a)The listed entity shall submit to the stock exchange(s) a statement showing holding of securities and shareholding pattern separately for each class of securities, in the format specified by the Board from time to time- one day prior to listing of its securities on the stock exchange(s);1 day prior to listing of its securities on the stock exchange(s31Reg 31 (1 (c)within ten days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital:within 10 days of any capital restructuring31A Conditions for re-classification of any person as promoter / publicReg 31Aan application for re-classification of a promoter/ person belonging to promoter group to public to the stock exchanges has to be made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting30 days from the date of approval by shareholders in general meeting37 Draft Scheme of Arrangement & Scheme of Arrangement.37(1)Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time.Before filling the same with any court or tribunal39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities.39(2)The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within a period of thirty days from the date of such lodgement.30 Days39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities39(3)The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information.2 days of its getting information.40 Transfer or transmission or transposition of securities.40 (3)On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer15 days 40 Transfer or transmission or transposition of securities.40 (3)the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode within seven days after receipt of the specified documents:7 Days40 Transfer or transmission or transposition of securities.40 (3)the listed entity shall ensure that transmission requests are processed for securities held in physical mode within twenty one days after receipt of the specified documents:21 Days–SCHEDULE VII: TRANSFER OF SECURITIES (PART B (1))In case of minor differences in the signature of the transferor(s), the listed entity shall follow the following procedure for registering transfer of securities:
(a) the listed entity shall promptly send to the first transferor(s), via speed post an intimation of the aforesaid defect in the documents and inform the transferor(s) that objection, supported by valid proof, is not lodged by the transferor(s) with the listed entity within fifteen days of receipt of the listed entity’s letter, then the securities shall be transferred15 Days42 Record Date or Date of closure of transfer books.42(2)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date:7 working days advance intimation excluding the date of the intimation and date of the meeting42 Record Date or Date of closure of transfer books.42(2)in the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).]3 working days advance intimation excluding the date of the intimation and date of the meeting42 Record Date or Date of closure of transfer books.42(3)The listed entity shall recommend or declare all dividend and/or cash bonuses at least five working days (excluding the date of intimation and the record date) before the record date fixed for the purpose.5 working days advance intimation excluding the date of the intimation and date of the meeting46 Website46 (3)(b)The listed entity shall update any change in the content of its website within two working days from the date of such change in content. 2 working days 50 Intimation to stock exchange(s).50(1)The listed entity shall give prior intimation to the stock exchange(s) at least eleven working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.11 working days50 Intimation to stock exchange(s).50(3)The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered. 2 working days advance intimation excluding the date of the intimation and date of the meeting52 Financial Results.52 (4) & (5)The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents 7 working days52 Financial Results.52 (4) & (8)The listed entity shall, within two calendar days of the conclusion of the meeting of the board of directors, publish the financial results and statement referred to in reg 52 (4), in at least one English national daily newspaper circulating in the whole or substantially the whole of India.two calendar days of the conclusion of the meeting57 Other submissions to stock exchange(s).57(1)The listed entity shall submit a certificate to the stock exchange within two days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securitieswithin 2 days60 Record Date60(2)The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the stock exchange(s) may agree to or require specifying the purpose of the record date. 7 working days advance intimation excluding the date of the intimation and date of the meeting78 Record Date.78(2)The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record datenotice in advance of at least 4 working days82 Intimation and filings with stock exchange(s).82(2)The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered. 2 working days in advance, excluding the date of the intimation and date of the meeting,82 Intimation and filings with stock exchange(s).82(3)The listed entity shall submit such statements, reports or information including financial information pertaining to Schemes to stock exchange within seven days from the end of the month/ actual payment date, either by itself or through the servicer, on a monthly basis in the format as specified by the Board from time to time:
Provided that where periodicity of the receivables is not monthly, reporting shall be made for the relevant periods.within 7 days87 Record Date.87(2)The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date 7 working days advance intimation excluding the date of the intimation and date of the meeting87E Record Date.87E(2)The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the stock exchange(s) of the record date or of as many days as the stock exchange may agree to or require specifying the purpose of the record date. 7 working days advance intimation excluding the date of the intimation and date of the meeting 

 

6. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

 

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic.”.

Sl. No.	Regulation No.	Compliance Particular	Compliance Period (Due Date)
1	Regulation 30(1)	Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified.	Omitted through introduction of SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2021   Applicable w.e.f. 01.04.2022
2	Regulation 30(2)	The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may
3.	Regulation 31(1) read with Regulation 28(3) of Takeover Regulations AUGUST 7, 2019 CIRCULAR https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.html	The promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company,	within 2 (two) working days   (Provision Insertion: “Provided that the aforesaid disclosure requirement shall not be applicable where such encumbrance is undertaken in a depository”)
4.	Regulation 31(4)	Disclosure of encumbered shares	Promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified

7. SEBI (Prohibition of Insider Trading) Regulations, 2015

 

Sl. No.	Regulation No.	Compliance Particular	Compliance Period (Due Date)
1	Regulation 7(2) “Continual Disclosures”	Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified;	Every company shall notify; within two trading days of receipt of the disclosure or from becoming aware of such information

 

8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

 

Sl. No.	Regulation No.	Compliance Particular	Compliance Period (Due Date)
1	Schedule XIX – Para (2) of ICDR Read with Reg 108 of SEBI LODR	“The issuer shall make an application for listing from the date of allotment, within such period as may be specified by the Board from time to time, to one or more recognized stock exchange(s)”.   In regard to above, it is specified that Issuer shall make an application to the exchange/s for listing in case of further issue of equity shares from thedate of allotment within 20 days (unless otherwise specified).	Within 20 days from the date of allotment
2	Regulation 162	The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment.	Within 18 months from date of allotment
3	SEBI CIRCULAR Aug 19, 2019 https://www.sebi.gov.in/legal/circulars/aug-2019/non-compliance-with-certain-provisions-of-sebi-issue-of-capital-and-disclosure-requirements-regulations-2018-icdr-regulations-_43941.html	Application for trading approval to the stock exchange Listed entities shall make an application for trading approval to the stock exchange/s within 7 working days from the date of grant of listing approval by the stock exchange/s.	Within 7 working days from grant of date of listing approval
4	Regulation 76 Application for rights issue	The issuer along with lead managers and other parties related to the issue shall constitute an optional mechanism (non-cash mode only) to accept the applications of the shareholders to apply to rights issue subject to ensuring that no third-party payments shall be allowed in respect of any application.
5.	Regulation 77 Service of Documents	In case if the company fails to adhere to modes of dispatch through registered post or speed post or courier services due to Covid-19 conditions it will not be treated as non-compliance during the said period.The issuers shall publish required & necessary documents on the websites of the company, registrar, stock exchanges and the lead managers to the rights issue.
6	Regulation 84   Advertisement	Issuer has the flexibility to publish the advertisement in additional newspapers above those required in Regulation 84. The advertisement should also be made available on:   A. Website of the Issuer, Registrar, Lead Managers, and Stock Exchanges.   B. Television channels, radio, the internet, etc. to spread information related to the process.

 

9. SEBI (Buyback of Securities) Regulations, 2018 (Buyback Regulations)

 

Sl. No.	Regulation No.	Compliance Particular	Compliance Period (Due Date)
1	Regulation 11 and 24(iv)	Extinguishment of equity shares in connection with Buyback The particulars of the security certificates extinguished and destroyed shall be furnished by the company to the stock exchanges where the shares or other specified securities of the company are listed within seven days of extinguishment and destruction of the certificates	7 days of extinguishment and destruction of the certificates
2	Regulation 24(i) (f)	Minimum time between buy back and raising of funds	Temporary relaxation in the period of restriction provided in Regulation 24(i)(f) from “one year” to “six months” Applicable up to December 31, 2020 only

 

10. SEBI (Depositories and Participants) Regulations 2018)

 

Sl. No.	Compliance Particulars	Due Date
1.	Regulation 76 (Quarter, January – March 2022)Reconciliation of Shares and Capital Audit	Within 30 days from end of quarter.
2.	Regulation 74 (5): Processing of demat requests form by Issuer/RTAs – Certificate Received from Registrar(Quarter, January – March 2022)	Within 15 days from the end of each quarter.

• SEBI Circulars Tracker:April, 2022

 

Sl.	Particulars	Link
1.	Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors – SEBI to generate FPI registration number and both the Depositories to host the CAF.	Click Here
2.	Reduction of timelines for listing of units of Infrastructure Investment Trust (InvIT)	Click Here
3.	SEBI Bulletin – April 2022 [MSWord]   [MSExcel]	Click Here
4.	Press Releases – SEBI Board Meeting	Click Here
5.	Timelines for Rebalancing of Portfolios of Mutual Fund Schemes	Click Here
6.	Clarification on applicability of regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in relation to Related Party Transactions	Click Here
7.	“Manthan” – SEBI Ideathon to promote innovation in the Securities Market	Click Here
8.	Informal Guidance sought by Equirus Capital Private Limited in relation to provisions of Chapter III (Prospectus and Allotment of Securities) – Part I (Public Offer) of Companies Act, 2013	Click Here
9.	Discontinuation of usage of pool accounts for transactions in the units of Mutual Funds, Two Factor Authentication (‘2FA’) for redemption and other related requirements: Extension of timeline	Click Here
10.	Processing status – Scheme of Arrangement.	Click Here
11.	Standardisation of Ratings Scales Used by credit rating agencies – Extension of timeline for implementation	Click Here
12.	Standardization of industry classification- Applicability to Credit Rating Agencies (CRAs)	Click Here
13.	Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities	Click Here
14.	SEBI constitutes committee on Strengthening of Governance of Market Infrastructure Institutions	Click Here
15.	Revision of UPI limits in Public Issue of Equity Shares and convertibles	Click Here
16.	Guidelines in pursuance of amendment to SEBI KYC Registration Agency (KRA) Regulations, 2011	Click Here
17	Names of the companies/Intermediaries/MIIs having complaints pending for more than 3 months on SCORES as on March 31, 2022	Click Here
18	SEBI Constitutes Working Groups for Mutual Funds	Click Here
19	Standard Operating Procedures (SOP) for dispute resolution available under the stock exchange arbitration mechanism for disputes between a listed company and its shareholder(s) investor(s)	Click Here
20	Clarification on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in relation to Related Party Transactions	Click Here
21	Circular on Risk value of commodities for risk-o-meter	Click Here
22	Comprehensive Risk Management Framework for Electronic Gold Receipts (EGR) segment	Click Here
23	SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2022	Click Here
24	SEBI (Debenture Trustees) (Amendment) Regulations, 2022	Click Here
25	SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022	Click Here
26	SEBI issues operational guidelines for “Security and Covenant Monitoring using Distributed Ledger Technology (DLT)”	Click Here
27	Right Issues-   Letter of Offer of Asian Granito India Limited	Click Here
28	SEBI signs MoU with the Manitoba Securities Commission, Canada	Click Here

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

 

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / Filing mode
Companies Act, 2013	Within 180 Days From The Date Of Incorporation Of The Company (one time compliance only)	As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.	MCA E- Form INC 20A (one time compliance)
Companies Act, 2013	First declaration within 90 days from the date of notification Dt. 08.02.2019	A person having Significant beneficial owner shall file a declaration to the reporting companyClick Here i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019   In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.	Form BEN-1 Draft Format available at LINK
Companies Act, 2013	within 30 days of acquiring beneficial interest	Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018. (the date of receipt of declaration in BEN-1 ) CLICK HERE	Form BEN – 2 (e-form deployed by Ministry (ROC)) on 01.07.2019
Companies Act, 2013	Annual Compliance (30.09.2021)	*DIN KYC through DIR 3 KYC Form is an Annual Exercise. Last date for filing DIR-3 KYC for Financial year 2021-22 is 30th September, 2022   Annual Exercise:CLICK HERE Penalty after due date is Rs. 5000/-(one time)	E-Form DIR – 3 KYC (Web Based and E-form)
Companies Act, 2013	Within 270 days from the date of deployment of this Form	Annual Return To Be Filed By Auditor With The National Financial Reporting Authority CLICK HERE CLICK HERE Click Here Note on NFRA -2Click Here	NFRA-2 (NFRA-2 e-Form live since 9th December 2019.)
Companies Act, 2013	Within 15 days of appointment of an auditor.	The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act.	E – Form NFRA -1
Companies Act, 2013	Within 30 days of the board meeting	Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed.	MGT-14 (Filing of resolution with MCA)
Companies Act, 2013	Within 60 (sixty) days from the conclusion of each half year.	Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014 To be filed all unlisted companies, deemed public companies. Till further clarification to be filled in GNL-2	E-Form PAS – 6
Companies Act, 2013	For half year period ‘October to March’ –by 30th April, 2022	All Specified Companies (i.e. Companies who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services as per section 9 of the Micro, Small and Medium Enterprises Development Act, 2006) to file details of all outstanding dues to Micro or small enterprises suppliers existing on 22nd January, 2019 within thirty days.	Form MSME -1
Companies Act, 2013	One Time compliances	Registration of Entities for undertaking CSR activities – Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021	E-Form CSR-1
Companies Act, 2013	within a period of 60 days after the holding of AGM	IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 Statement of unclaimed and unpaid amounts. This e-form shall be filed within a period of 60 days after the holdingof AGM or the date on which it should have been held as perthe provisions of section 96 of the Act, whichever is earlier	IEPF -2

 

• MCA has extended the timeline for filing web form CSR-2 till May 31, 2022.
• FC-4 is an annual return of foreign companies, due date is 30^th May, 2022.

 

• LLP Compliance

 

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / Filing mode
LLP Act, 2008	within 60 days from the closure of the financial year	LLP Annual Filing- An annual statement for submitting details of the business of the LLP and its partners for the FY 2020-21	Form LLP-11

 

 

• Important Updates – April, 2022

 

Sl.	Particulars of the Circulars	Link
1	Companies (Registration of Charges) Amendment Rules, 2022	Click Here
2	Updated FAQ FORM11, Fillip & Login	Click Here
3	Companies (Accounts) Second Amendment Rules, 2022-reg.	Click Here
4	Companies (Management and Administration) Amendment Rules, 2022	Click Here
5	Dissolution Notice of M/s Jersey India Ltd & M/s Himanshu Proteins Ltd (cos in liquidation)	Click Here
6	Punwire Paging Services Ltd, M/s Sunbeam Agro Chemical Punjab Ltd & M/s Seema Industries Ltd (cos. in liquidation)	Click Here
7	Notice inviting comments on Company Law Committee Report 2022	Click Here
8	Nidhi (amendment) rules, 2022	Click Here
9	Revised MCA21 V3 Login FAQs	Click Here
10	Stakeholders are requested to use their V2 user ID and password to log into the new V3 portal, and then upgrade to a Business user. Once upgraded the email ID of the V2 account will automatically become the login ID for V3 and password will remain the same, which can be then changed as required.	Click Here
11	Dissolution Notice of M/s Bagrian Shoes Ltd & M/s Northern Metalmen Pvt. Ltd (cos in liquidation)	Click Here
12	Company Law Committee suggests fractional shares issuance, easier fund raising norms for distressed cos	Click Here

 

 

 

12. IBBI Updates {Insolvency and Bankruptcy Board of India}

 

• NCLT directs to initate insolvency proceedings against Andhra Cement

The National Company Law Tribunal has directed to initiate insolvency proceedings against Andhra Cement, a company owned by the debt-ridden Jaypee Group.

The Hyderabad bench of the NCLT (National Company Law Tribunal) has also appointed Nirav K Pujara as the Interim Resolution Professional (IRP) of the company, and declared a moratorium in respect of the company as per the provision of the Insolvency & Bankruptcy Code (IBC).

“The company is now under CIRP (Corporate Insolvency Resolution Process) as per the provisions of the code. As per Section 17 of the code, the powers of the board of directors of the company stand suspended and as such the powers shall be vested with and exercised by the IRP,” Andhra Cement said in a regulatory filing.

The company has also shared the order passed by the insolvency tribunal on April 26, 2022, in this regard.NCLT’s direction came after a petition filed by Pridhvi Asset Reconstruction and Securitisation Company Ltd, claiming a default. (To read more Click Here)

• Important Notifications and Circulars Tracker (April, 2022)

 

Date	Subject
01st May, 2022	Successful conclusion of the First International Research Conference on Insolvency and Bankruptcy, organised by Insolvency and Bankruptcy Board of India jointly with IIM, Ahmedabad on 30th April, 2022 – 1st May, 2022.
30th April, 2022	Quarterly Newsletter for Jan-Mar, 2022
30th April, 2022	Inauguration of the First International Research Conference on Insolvency and Bankruptcy, being organized by the Insolvency and Bankruptcy Board of India, jointly with IIM, Ahmedabad on 30th April, 2022.
28th April, 2022	First International Research Conference on Insolvency and Bankruptcy being organized by Insolvency and Bankruptcy Board of India in association with IIM Ahmedabad on 30th April- 1st May 2022.
28th April, 2022	IBBI (Liquidation Process) (Amendment) Regulations, 2022
15th April, 2022	The Insolvency and Bankruptcy Board of India launches the 3rd National Online Quiz on the Insolvency and Bankruptcy Code, 2016
13th April, 2022	Consultation paper on issues related to reducing delays in the corporate insolvency resolution process
13th April, 2022	In the matter of Mr. Pankaj Dhanuka, Insolvency Professional
12th April, 2022	Clarifications with respect to Temporary Surrender of Professional Membership
11th April, 2022	5th International Insolvency Moot Court Competition at NLU, Delhi
09th April, 2022	Discussion Paper on “Enhancing effectiveness of Information Utility”
08th April, 2022	In the matter of Mr. Manoj Kumar Singh, Insolvency Professional
08th April, 2022	In the matter of Mr. Nanak Chand Gupta, Registered Valuer
08th April, 2022	Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
08th April, 2022	In the matter of Mr. Mahender Kumar Khandelwal, Insolvency Professional
08th April, 2022	In the matter of Mr. Manish Gupta, Insolvency Professional

 

This Article / Compliance Tracker is updated till 30^th April, 2022 with all Laws / Regulations and their respective amendments.