SEBI Circular and MCA Extension
November 11, 2020
In order to further strengthen the Investor Grievance Redressal Mechanism, SEBI has issued clarification to its circular dated August 11, 2010, February 09, 2011, and September 26, 2013 where it has clarified that Stock Exchange shall ensure that the investor complaints shall be resolved within 15 working days from the date of receipt of the complaint. Additional information, if any, required from the complainant, shall be sought within 7 working days from the date of receipt of the complaint. Stock Exchange shall maintain a record of all the complaints addressed/redressed within 15 working days from the date of receipt of the complaint/additional information.For details: https://www.sebi.gov.in/legal/circulars/nov-2020/investor-grievance-redressal-mechanism_48105.html MCA The MCA extends the date for the belated documents which can be filed under LLP Settlement Scheme, 2020 from 31st August to 30th November, 2020.
The Government has issued General Circular No. 31/2020 dated September 28, 2020, to extent the LLP settlement scheme till 31st December 2020 from 30th September 2020. However, the belated documents which can be filed under the scheme must be for the period on or prior to 31st August 2020.
The MCA has notified the extension for belated documents which can be filed under LLP Settlement Scheme, 2020 till 30th November 2020 from 31st August 2020. It has been decided to extend the date on applicability for the belated documents due for filing. Now, the belated documents belongs to the period till 30th November 2020 can be filed under the said scheme.
All other requirements provided in the said circulars shall remain unchanged. It is further clarified that, if a statement of account and solvency for the financial year 2019-2020 has been signed beyond the period of six months from the end of the financial year but not later than 30th November 2020, the same shall not be deemed as non-compliance.For details: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.37_09112020.pdf Article contributed by: Munesh Gaur Senior Associate- Legal MBG Corporate Services