CENTRE FOR CORPORATE GOVERNANCE, RESEARCH & …

CENTRE FOR CORPORATE GOVERNANCE, RESEARCH & TRAINING (CCGRT)

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Speak the Truth. Abide by the Law.lR;a on /keZpjA aA

Mo�o"To be a global leader in

promoting goodcorporate governance"

Vision Mission"To develop high calibreprofessionals facilitating

good corporate governance"

Plot No.101, Sector-15, Ins�tu�onal Area, CBD Belapur, Navi Mumbai, Maharashtra 400614

VOLUME - 4 JUNE, 2019






ICSI-CCGRT Management Committee

1. CS Praveen Soni - Chairman

2. CS Chetan B Patel - Member

3. CS Manish Gupta- Member

4. CS Nagendra Rao D- Member

5. CS Awaneesh Kumar Srivastava - Member

6. CS Awanish Dwivedi - Member

7. CS Manish Ghia - Member

8. CS Pawan Baid - Member

9. CS Shweta Kharangate (Ms.) - Member

Mr. Sudipto Pal - Joint Secretary Dr. Tarun Pandeya - Dean

ICSI-CCGRT SENIOR OFFICIAL

INDEX

2 Page No: 04

3

4 Page No: 10

5 Page No: 12

7 Page No: 13

8 Page No: 14

9 Page No: 15

10 Page No: 17

11

1 Page No: 03

Page No: 07

Page No: 18

MESSAGE FROM CHAIRMAN

CHAPTERWISE SYNOPSIS OF RULES UNDER THE COMPANIES ACT, 2013

PHOTO MEMOIR OF THE MONTH

SUPREME COURT JUDGEMENTS

“CCGRT - आपक �ार” INITIATIVE

72ND (R-MSOP) OF ICSI-CCGRT - BRIEF

“CCGRT - आपक �ार” WITH JAIPUR CHAPTER - 3 DAYS WORKSHOP ON NCLT

ANNOUNCEMENTS BY CoE HYDERABAD

INVITATION FOR ARTICLES BY THE ICSI - CCGRT

REGULATORY UPDATES

CCGRT ANNOUNCES WORKSHOP ON EFFECTIVE BUSINESS COMMUNICATION 12 Page No: 19






MESSAGE FROM CHAIRMAN

�ी भगवानवाचसमानी व आकित: समाना �दयािन व: |समानम�त वो मनो यथा व: ससहासित ||

ICSI-CCGRT is proud to launch its 4th Issue of सशासनम. I am recalling the 11th December

2014 on which United Nations proclaimed 21st June as International Yoga Day. As an Indian, I feel proud that the ancient practice of performing Yoga by Indians got recognized internationally.

Yoga is an ancient physical, mental and spiritual practice that originated in India. The word 'yoga' derives from Sanskrit and means to join or to unite, symbolizing the union of body and consciousness. Today it is practiced in various forms around the world and continues to grow in popularity. Yoga should be made part of our routine life to derive the best of it. Because this is the medium through which the true essence of the above sloka derived from the Rigveda can be achieved.

Let your conclusions be one (or be alike), Let your hearts be the same (or be alike)Let your minds think alike/similar.

[Means "everyone" feels for the same particular bad/ill in the society in the same intensity. It may be the common experience that not all feel for the same problem in the 'intensity' that we as individual may feel for that. Due to this there may be lack of 'collective' efforts to solve that

problem. May all these factors make your organisational-power an impressive one. This 'sloka' can be called as an 'sangathan-sukta' i.e. guidelines for building an impressive

organisation/nation - Rigveda]

The Oneness (In terms of ideas, thinking, philosophy, feeling, ownership, etc) in any organization irrespective of its size and structure is must to achieve the long term sustainability and value creation. As we all know, the organization is an association of persons and stakeholders, including Government and public at large. Unless and until there is consensus and alikeness among them to achieve the vision and mission of the organization, the organizations will not able to sustain for long time. The above sloka derived from the oldest written document called Rigveda tells us about making organization a living organization with a life span of may be centuries.

Coming back to the activities and initiatives of the ICSI-CCGRT, I feel happy to announce that the one of its kind 3 Days Residential Workshop on NCLT is being organized by ICSI-CCGRT in association with ICSI Jaipur Chapter under the CCGRT आप क �ार Initiative. The said workshop is scheduled on July 19-21, 2019 at Jaipur. Therefore, book your diary and

get ready to dive deep into the ocean full of practical knowledge and working of adjudicating bodies like NCLT and NCLAT.

Further, I appeal to all members and students of the ICSI to come forward and contribute your knowledge and expertise in terms of research articles on the subject of interest to Company Secretaries and learning of governance from ancient scriptures which may be useful to corporates at large to improve the corporate governance practices.

CS Praveen Soni Central Council Member &

Chairman CCGRT






PHOTO MEMOIR OF THE MONTH72ND RMSOP INAUGURAL SESSION






PHOTO MEMOIR OF THE MONTHCELEBRATING INTERNATIONAL YOGA DAY CCGRT






PHOTO MEMOIR OF THE MONTH72 RMSOP VALEDICTORY SESSION






CHAPTERWISE SYNOPSIS OF RULES UNDER THE COMPANIES ACT, 2013: AMENDED; NOTIFIED IN YEAR 2019

CS ANJALI J. GORSIAEmail id: [email protected]

CHAPTERS SECTION TITLE SECTIONS APPLICABLE RULES NOTIFIED IN YEAR 2018 NOTIFIED DATE

EFFECTIVE DATE

Chapter I Preliminary Section 1 & 2

The Companies (Speci�ication of De�initions Details) Rules, 2014

Chapter II Incorporation of

Company and

Matters

Incidental thereto

Section 3 to 22

The Companies (Incorporation) Rules, 2014

Companies (Incorporation) Amendment Rules, 2019

Companies (Incorporation) 2ndAmendment Rule 2019

Companies (Incorporation) ThirdAmendment Rule,2019

Companies Incorporation FifthAmendment Rules,2019

Companies (Incorporation) 6thAmendment Rules, 2019

21.02.2019

06.03.2019

29.03.2019

10.05.2019

07.06.2019

25.02.2019

06.03.2019

-

10.05.2019

07.06.2019

Chapter III

Part -

I

Prospectus and

Allotment of

Securities

Part -

II The

Section 23 to 41

Section 42

Part I The Companies (Prospectus and Allotment of Securities) Rules, 2014

The Companies (Issue

of Global Depository Receipts) Rules,

Companies (Prospectus and allotment of securities) 1ST

Amendment Rules 2019

Companies (Prospectus and allotment of securities) 2ND

Amendment Rules

2019

23.01.2019

19.02.2019

23.01.2019

19.02.2019

Companies

(Private

Placement)

2014Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019

23.05.2019 23.05.2019

Chapter IV Share Capital and

Debentures

Section 43 to 72

The Companies (Share Capital and Debentures) Rules, 2014

Chapter V Acceptance of

Deposits by

Companies

Section 73 to 76A

The Companies (Acceptance of Deposits) Rules, 2014

Companies (Acceptance of Deposits),Amendment Rules, 2019

Companies(Acceptance of Deposits )Second

Amendment Rules, 2019

22.01.2019

30.04.2019

22.01.2019

30.04.2019

Chapter VI

Registration of

Charges

Section 77 to 87

The Companies (Registration of Charges) Rules, 2014

Companies (Registration of Charges) Amendment Rules, 2019

Companies (Registration Of�ices and Fees) Third


30.04.2019

30.04.2019

30.04.2019

30.04.2019

Chapter VII

Management and

Administration

Section 88 to 122

The Companies (Management and Administration) Rules, 2014

Companies (Signi�icant Bene�icial Ownership) Amendment Rules, 2019

Companies (Signi�icant Bene�icial Owners) second

Amendment Rules,2019

08.02.2019

01.07.2019

08.02.2019

01.07.2019

Chapter VIII

Declaration and

Payment of

Dividend

Section 123 to 127

The Companies (Declaration and Payment of Dividend) Rules, 2014

Chapter IX

Account of

Companies

Section 128 to 138

The Companies (Accounts) Rules, 2014






The Companies (Indian Accounting Standards) Rules, 2015

Companies (Indian Accounting Standards) Amendment Rules, 2019

Companies (Indian Accounting Standards) Second Amendment Rules, 2019

Companies (Indian Accounting Standards) Second Amendment Rules, 2019

National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019

30.03.2019

30.03.2019

25.04.2019

23.05.2019

01.04.2019

01.04.2019

25.04.2019

23.05.2019

Chapter X

Audit and

Auditors

Section 139 to 148

The Companies (Audit and Auditors) Rules, 2014

The Companies (Cost Records and Audit) Rules, 2014

Companies (Filing of Documents and Forms in XBRL) Rules, 2015

Chapter XI

Appointment and

Quali�ications of

Directors

Section 149 to 172

The Companies (Appointment and Quali�ications of Directors) Rules, 2014

Companies (Appointment and Quali�ication of

Directors) Amendment Rules, 2019

Companies (Appointment and Quali�ication of Directors) 2nd

30.04.2019

16.05.2019

30.04.2019

16.05.2019


Chapter XII

Meetings of

Board and its

Powers

Section 173 to 195

The Companies (Meetings of Board and its Powers) Rules, 2014

Chapter XIII

Appointment and

Remuneration of

Managerial

Personnel

Section 196 to 205

The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

Chapter XIV

Inspection,

Inquiry and

Investigation

Section 206 to 229

The Companies (Inspection, Investigation and Inquiry) Rules, 2014

Chapter XV

Compromises,

Arrangements

and

Amalgamations

Section 230 to 240

The Companies (Compromises, Arrangements and Amalgamations) Rules, 2016

Chapter XVI

Prevention of

Oppression and

Mismanagement

Section 241 to 246

Chapter XVII

Registered

Valuers

Section 247

The Companies (Registered Valuers and Valuation) Rules, 2017

Chapter XVIII

Removal of

Names of

Companies From

the Register of

Companies

Section 248 to 252

The Companies (Removal of Name of Companies from the Register of Companies) Rules, 2016

Companies(Removal of Names of Companies from the Register of Companies) Amendment Rules, 2019

08.05.2019 10.05.2019

Chapter XIX

Revival and

Rehabilitation of

Section 253 to 269

No Rules






Sick Companies

Chapter XX

Winding Up Section 270 to 365

Chapter XXI

Part I -

Companies

Authorised to

Register Under

this Act

Section 366 to 374

The Companies (Authorised to Registered) Rules, 2014

Chapter XXI

Part II -

Winding

Up of

Unregistered

Companies

Section 375 to 378

The Companies (Authorised to Registered) Rules, 2014

Chapter XXII

Companies

Incorporated

Outside India

Section 379 to 393

The Companies (Registration of Foreign Companies) Rules, 2014

Chapter XXIII

Government

Companies

Section 394 & 395

Chapter XXIV

Registration

Of�ices and Fees

Section 396 to 404

The Companies (The Registration Of�ices and Fees) Rules, 2014

Companies (Registration of�ices and Fees)Amendment Rules, 2019

Companies (Registration Of�ices and Fees) 2nd


21.02.2019

25.04.2019

25.02.2019

25.04.2019

Chapter XXV

Companies to

Furnish

Information or

Statistics

Section 405

Chapter XXVI

Nidhis

Section 406

Nidhis Rules, 2014

Nidhi (Amendment) Rules 2019 01.07.2019 15.08.2019

Chapter XXVII

National

Company Law

Tribunal and

Appellate

Tribunal

Section 407 to 434

The National Company Law Tribunal Rules, 2016

The National Company Law Appellate Tribunal Rules, 2016

The National Company Law Tribunal (Procedure for reduction of share capital of Company) Rules, 2016

The Companies (Transfer of Pending Proceedings) Rules, 2016

NCLT Amendment Rules, 2019

National Company Law Tribunal(Second Amendment) Rules, 2019

15.01.2019

08.05.2019

15.01.2019

08.05.2019

Chapter XXVIII

Special Courts

Section 435 to 446

Chapter XXIX

Miscellaneous

Section 447 to 470

Part I The Companies (Adjudication of Penalties) Rules, 2014

Part II The Companies (Miscellaneous) Rules, 2014

Companies (Adjudication of Penalties) Amendment Rules, 2019

19.02.2019 19.02.2019

Schedules

Schedule 1 to 7






CIVIL APPEAL NO. 3747 OF 2019 Hari Sankaran ... Appellant

Versus Union of India & Others ... Respondents

Brief Facts

Feeling aggrieved and dissatis�ied with the impugned Order dated 31.01.2019 passed by the National Company Law Appellate Tribunal, New Delhi in Company Appeal (AT) No. 29 of 2019 by which the learned Appellate Tribunal has dismissed the said appeal preferred by the appellant herein – ExDirector of respondent No. 2 – Infrastructure Leasing & Financial Services Limited (hereinafter referred to as 'the IL&FS') and has con�irmed the order passed by the National Company Law Tribunal, Mumbai Bench (hereinafter referred to as 'the learned Tribunal') dated 01.01.2019 by which the learned Tribunal allowed the said application preferred by the Central Government under Section 130(1) & (2) of the Companies Act, 2013 (hereinafter referred to as the 'Companies Act') and has permitted recasting and reopening of the accounts of IL&FS, IL&FS Financial Services Limited (hereinafter referred to as the “IFIN”) and IL&FS Transportation Networks Limited (hereinafter referred as the “ITNL”) for the last �ive years, the original appellant has preferred the present appeal.

Judgement

The Apex Court sees no reason to interfere with the impugned order dated 01.01.2019 passed by the learned Tribunal under Section 130 of the Companies Act for reopening of the books of accounts and re-casting the �inancial statements of the Infrastructure Leasing & Financial Services Limited; IL&FS Financial Services Limited and IL&FS Transportation Networks Limited for the last �ive years, viz. from Financial Year 201213 to the Financial Year 201718, which came to be con�irmed by the learned AppellateCourt vide impugned judgment and order dated 31.01.2019.

Consequently, the present appeal fails and deserves to be dismissed and is accordingly dismissed.

To read complete judgement, log on to –

https://www.sci.gov.in/supremecourt/2019/11530/11530_2019_4_1501_14597_Judgement_04-Jun-2019.pdf

SUPREME COURT JUDGEMENTS






CIVIL APPELLATE JURISDICTIONCIVIL APPEAL NO.20978 of 2017

JK JUTE MILL MAZDOOR MORCHA …APPELLANTVERSUS

JUGGILAL KAMLAPAT JUTE MILLSCOMPANY LTD. THROUGH ITS DIRECTOR

& ORS. …RESPONDENTS

The present appeal raises an important question as to whether a trade union could be said to be an operational creditor for the purpose of the Insolvency and Bankruptcy Code, 2016 [“Code”]. The facts of the present case reveal a long-drawn saga of a jute mill being closed and reopened several times until �inally, it has been closed for good on 07.03.2014. Proceedings were pending under the Sick Industrial Companies (Special Provisions) Act, 1985. On 14.03.2017, the appellant issued a demand notice on behalf of roughly 3000 workers under Section 8 of the Code for outstanding dues of workers. This was replied to by respondent No.1 on 31.03.2017.

The National Company Law Tribunal [“NCLT”], on 28.04.2017, after describing all the antecedent facts including suits that have been �iled by respondent No.1 and referring to pending writ petitions in the High Court of Delhi, ultimately held that a trade union not being covered as an operational creditor, the petition would have to be dismissed. By the impugned order dated 12.09.2017, the National Company Law Appellate Tribunal [“NCLAT”] did likewise and dismissed the appeal �iled by the appellant before us, stating that each worker may �ile an individual application before the NCLT.

Judgement

The NCLAT, by the impugned judgment, is not correct in refusing to go into whether the trade union would come within the de�inition of “person” under Section 3(23) of the Code. Equally, the NCLAT is not correct in stating that a trade union would not be an operational creditor as no services are rendered by the trade union to the corporate debtor. What is clear is that the trade union represents its members who are workers, to whom dues may be owed by the employer, which are certainly debts owed for services rendered by each individual workman, who are collectively represented by the trade union. Equally, to state that for each workman there will be a separate cause of action, a separate claim, and a separate date of default would ignore the fact that a joint petition could be �iled under Rule 6 read with Form 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, with authority from several workmen to one of them to �ile such petition on behalf of all. For all these reasons, we allow the appeal and set aside the judgment of the NCLAT. The matter is now remanded to the NCLAT who will decide the appeal on merits expeditiously as this matter has been pending for quite some time.

The appeal is allowed accordingly.

To read complete judgement, log on to -

https://ibbi.gov.in//webadmin/pdf/order/2019/Apr/In%20the%20matter%20of%20JK%20Jute%20Mill%20Mazdoor%20Morcha%20Vs%20Juggilal%20Kamlapat%20Jute%20Mills%20Company%20Ltd%20 t h ro u g h % 2 0 i t % 2 0 D i re c t o r s % 2 0 C iv i l % 2 0 A p p e a l % 2 0 N o . % 2 0 2 0 9 7 8 - 2 0 1 7 _ 2 0 1 9 - 0 4 -30%2022:35:45.pdf






सशासनम invites articles on:

नारी श�� --- article related to broad issues of women empowerment preferably from women CS Members.

Email Id : [email protected]

As a part of new initiative, to make accessible the expertise, quality and Brand ICSI-CCGRT to all chapters/ region of ICSI and for the development and growth of the members of the ICSI and capacity building of the profession, CCGRT has started this unique campaign “CCGRT AAPKE DWAR”, by this any chapter on PAN India basis can request CCGRT of�ice to hold workshop / programme jointly with CCGRT at their own venue as per mutually agreed terms.

The Chairman of the respective Chapters/ Region can apply with full authority from the respective region/ chapter describing the areas of interest of your chapters like –

Specialized Capacity Building/ Training Programme for Members and Students/ Directors/Woman Directors/ Independent Directors etc.

CCGRT will not charge for sharing its brand/ skill set / expertise with any chapter / region and shall also not participate in any pro�it/ loss from the workshop.

CCGRT will help in popularizing the training/programme through proper marketing of the same.

Customized Background Material Development for Theme Based Programmes.

Request to be made at least 40-45 days in advance along with 2-3 alternative dates for proposed training/programme

Request shall bear the suggested alternative topics to be chosen

CCGRT shall help in �inalizing Workshop Theme, Venue and Faculty etc.

For more details, contact CS Ketan K Bhalgamiya, Assistant Director on 022-41021515 or on [email protected] | M: 9825551687

“CCGRT - आपक �ार” INITIATIVE

CS Praveen Soni Central Council Member & Chairman The ICSI-CCGRT

Dr. Tarun Pandeya Dean

ICSI-CCGRT

Mr. Sudipto Pal Joint Secretary & HOD

The ICSI-CCGRT






ICSI-CCGRT organised its 72nd Residential Management Skills Orientation Program (RMSOP) from Saturday, June 01, 2019 to Sunday, June 16, 2019 at CCGRT, Navi Mumbai. 18 participants across the country attended and completed the program.

On the last day i.e. Sunday, June 16, 2019, the valedictory session of the RMSOP was held where CS Sanjay Chowdhary, Company Secretary, Emcure Pharmaceuticals Ltd., Pune was the Chief Guest and CS Pravin Soni, Council Member, ICSI & Chairman CCGRT Management Committee, CS Chetan Patel, Council Member, ICSI & Member, CCGRT Management Committee, CS Nagendra D Rao, Council Member, ICSI & Member, CCGRT Management Committee, CS Shweta Kharangate, Member, CCGRT Management Committee were also present.

Thereafter, they distributed the certi�icate awards of 'Best Group', Best Report' 'Best Presenter' and 'Best Participant' to the participants. The “Best Group” during the project presentations was awarded for the Project on “Merger or Amalgamation of Companies” and Ms. Astha Pareek were adjudged as the “Best Participant”; whereas Ms. Rucha Shriram Deshpande was the 1st Runner Up and Ms. Ruchita Amod Vora being the 2nd Runner Up for the Best Participant award during the 72nd RMSOP Batch.

72ND RESIDENTIAL MANAGEMENT SKILLS ORIENTATION PROGRAM (R-MSOP) OF ICSI-CCGRT





















1. Article on subject of interest to the profession of Company Secretaries in the Journal. 2. The article should be original contribution of the author. 3. The article must be an exclusive contribution for the सशासनम . 4. The article must not have been published elsewhere, and must have been or must not be sent elsewhere for publication, in the same or substantially the same form. 5. The article should ordinarily have 2500 to 4000 words. A longer article may be considered if the subject to warrants. 6. The article must carry the name(s) of the author(s) on the title page only and nowhere else. 7. The articles go through blind review and are assessed on the parameters such as; (a) relevance and usefulness of the article (from the point of view of the company secretaries), (b) Organization of the article (structuring, sequencing, construction, �low, etc.), (c) depth of the discussion, (d) persuasive strength of the article (idea/argument/articulation), (e) does the article say something new and is it thought provoking, and (f) adequacy of reference, source acknowledgment and bibliography, etc. 8. The copyright of the article, if published in the सशासनम shall vest with the Institute. 9. The Institute/the Editor of the सशासनम has the sole discretion to accept/reject an article for publication in the सशासनम or to publish it with modi�ication and editing, as it considers appropriate. 10. The article shall be accompanied by a summary in 150 words and mail to [email protected] 11. The article shall be accompanied by a 'Declaration-cum-undertaking' from the author(s) as under:

CCGRT INVITES ARTICLES

GUIDELINES FOR AUTHORS

1. I, Shri/Ms./Dr./Professor_________ declare that I have read and understood the Guidelines for Authors. 2. I af�irm that: (a) The article titled “___”is my original contribution and no portion of it has been adopted from any other source; (b) This article is an exclusive contribution for सशासनम and has not been / nor would be sent elsewhere for publication; and (c) The copyright in respect of this article, if published in सशासनम shall vest with the Institute. (d) The views expressed in this article are not necessarily those of the Institute or the Editor of the सशासनम .

'DECLARATION-CUM-UNDERTAKING'

DISCLAIMER

“सशासनम” will be published in the �irst week of every month. Non – receipt of any issue should be noti�ied within that month.

Articles on subject of interest to Company Secretaries are welcome. Views expressed by contributors are their own and the

Institute does not hold/ accept any responsibility. The Institute is not in any way responsible for the result of any action

taken on the basis of the advertisement published (if any) in the journal. All rights reserved. No part of the Article/Paper/

Write ups may be reproduced or copied in any form by any means without the written permission of the Institute. The write

ups of this issue are also available on the website of the Institute.






NEWS & UPDATES FROM MINISTRY OF CORPORATE AFFAIRS

Form AGILe is likely to be revised on MCA21 Company Forms Download page w.e.f. 31st May, 2019. Stakeholders are advised to check the latest version before �iling

The Central Government has noti�ied National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019 w.e.f. 22nd May 2019For detail, please log on to - http://www.mca.gov.in/Ministry/pdf/Rules1_23052019.pdf

NEWS & UPDATES FROM SECURITIES & EXCHANGE BOARD OF INDIA

ENHANCED DISCLOSURE IN CASE OF LISTED DEBT SECURITIES

With a view to further secure the interests of investors in listed debt securities, enhance transparency and to enable Debenture Trustees (DTs)to perform their duties effectively and promptly, pursuant to public consultation,amendments to the existing regulatory framework for governing Debenture Trustees (DTs), vide Gazette noti�ications no. 150, 151, 152dated May 7, 2019 were carried out.

For complete guidelines, please log on to – https://www.sebi.gov.in/legal/circulars/may-2019/enhanced-disclosure-in-case-of-listed-debt-securities_43118.html

COMBATING FINANCING OF TERRORISM (CFT) UNDER UNLAWFUL ACTIVITIES (PREVENTION) ACT, 1967 –DIRECTIONS TO STOCK EXCHANGES, DEPOSITORIES AND ALL REGISTERED INTERMEDIARIES

The Government had issued an Order dated August 27, 2009detailing the procedure for implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967 (UAPA), relating to the purpose of prevention of, and for coping with terrorist activities. Accordingly SEBI had issued circular ISD/AML/CIR-2/2009 dated October 23, 2009on “Combating Financing of Terrorism (CFT) under Unlawful Activities (Prevention) Act, 1967”and subsequently master circular SEBI/HO/MIRSD/DOS3/CIR/P/2018/104 dated July 04, 2018 on “Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) / Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed there under”.

In view of the reorganization of Divisions in the Ministry of Home Affairs and allocation of work relating to countering of terror �inancing to the Counter Terrorism and Counter Radicalization (CTCR) Division, the Government has modi�ied the earlier order dated August 27, 2009 by the order dated March 14, 2019.

To read the said order, log on to – https://www.sebi.gov.in/sebi_data/commondocs/may-2019/GOI%20Order_p.pdf

NEWS & UPDATES FROM THE RESERVE BANK OF INDIA

In exercise of the powers conferred by the Banking Regulation Act, 1949 and the Reserve Bank of India Act, 1934, the Reserve Bank, being satis�ied that it is necessary and expedient in the public interest so to do, issued the directions with respect to Prudential Framework for Resolution of Stressed Assets vide Noti�ication No. DBR.No.BP.BC.45/21.04.048/2018-19 dated 7th June 2019.

To read the full text of the noti�ication, log on to – https://ibbi.gov.in//webadmin/pdf/legalframwork/2019/Jun/PRUDENTIALB20DA810F3E148B099C113C2457FBF8C_2019-06-07%2019:42:15.pdf




