SEBI launches mobile application for lodging investor grievances

Dear Professionals,

SEBI launches mobile application for lodging investor grievances vide press release dated 5th  March 2020 

Ihe app SEBI Scores  in an effort to improve the ease of doing business so that investors can conveniently lodge their grievances in Sebi Complaints Redress System (SCORES).

“SCORES mobile app will make it easier for investors to lodge their grievances with Sebi, as they can now access SCORES at their convenience of a smartphone. The App, I am sure, will encourage investors to lodge their complaints on SCORES rather than sending letters to Sebi in physical mode,” said Sebi chairman Ajay Tyagi in a release.

“This is another effort of Sebi in improving digitalisation in the securities market”, he added.

SCORES is a platform designed to help investors to lodge their complaints online with Sebi, pertaining to securities market, against listed companies, Sebi registered intermediaries and Sebi recognized Market Infrastructure Institutions (MIIs).

Since its launch in June 2011, Sebi on an average has received about 40,000 complaints every year. A total of 3,57,000 complaints has been resolved using SCORES platform, so far.

Entities against whom complaints are lodged are required to file an Action Taken Report with the market regulator within 30 days of receipt of complaints.

The Mobile App “SEBI SCORES” is available on both iOS and Android platforms.



CS Prashant Kishanani
+919999934484/8851685638
csprashantkishanani@gmail.com

BSE Circular dated 3rd March, 2020

Dear Professionals,

BSE has issued circular dated 03^rd March, 2020 and has specified the manner of disclosing annual disclosure which are identified as Large corporate and which are not identified as Large Corporate.

Sub: Format of the Annual Disclosure to be made by an entity identified as a Large Corporate

This circular is in reference to the SEBI Circular dated November 26, 2018 and in continuation to the Exchange Circular dated April 11, 2019, with regard to fund raising by issuance of debt securities by large entities. The Companies are required to file Annual Disclosure as mentioned in Annexure B1 of SEBI Circular dated November 26, 2018. In this regard, the Exchange has introduced a facility in the Listing Centre for filing of Annual Disclosure to be made by an entity identified as a Large Corporate.

All companies who have been identified as Large Corporate are required file this Annual Disclosure through the Corporate Announcements Module of the Listing Centre

Corporate Announcement > Compliances > Format of the Annual Disclosure to be made by an entity identified as a Large Corporate.

Filings in respect of Annual Disclosure must be filed by all listed entities identified as Large Corporate (LC), within 45 days of the end of Financial Year. The listed entities which are not identified as large corporates must submit a confirmation in this regard to the Exchange in the mode as specified above.

For further details in this matter, you may write to bse.regulation30@bseindia.com

Entities which fall under criteria mentioned in SEBI Circular dated 26.11.2018 are identified as Large Corporate  

Link for the SEBI circular dated 26.11.2018 is mentioned below:

https://www.sebi.gov.in/legal/circulars/nov-2018/fund-raising-by-issuance-of-debt-securities-by-large-entities_41071.html

  

Your queries or suggestions are highly appreciated.

CS Prashant Kishanani
+919999934484/8851685638
csprashantkishanani@gmail.com

MCA Update w.r.t SPICe+

Dear Professional Colleagues,

Ministry of Corporate Affairs (MCA) has issued an update w.r.t Incorporation through SPICE+.

As  Registration for EPFO and ESIC shall be mandatory for all new companies incorporated w.e.f 23rd February 2020.

MCA has clarified that new companies incorporated through SPICe+ and thereby have obtained EPFO/ESI numbers will have to file statutory returns only when they cross thresholds prescribed under the relevant Acts.

Threshold limit of employees  under The Employees' Provident Funds And Miscellaneous Provisions Act, 1952 is every establishment which is a factory engaged in any industry specified in Schedule I or any other establishment notified by Central Government  in which twenty or more persons are employed.

Threshold of employees under Employees’ State Insurance Act, 1948 is a factory in which ten or more persons are employed.

Your queries or suggestion are highly appreciated.

CS Prashant Kishanani

+919999934484/8851685638

Csprashantkishanani@gmail.com