The weekly messenger | Edition 16.22
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas.
Auditing News
Updation of UDINs at e-filing Portal – 13 May 2022
Considering the various instances of invalidation of Unique Document Identification Number (UDINs) at the e-filing portal of Income Tax Department, the ICAI has advised its members to try again to update those UDINs which have been invalidated earlier at the e-filing portal of Income Tax Department till 31 May 2022.
For more information, click here.
Regulatory News
Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – 13 May 2022
The Ministry of Corporate Affairs (MCA) vide its Circular dated 5 May 2022 has extended the relaxations from dispatching of physical copies of financial statements for the year 2022 till 31 December 2022.
Pursuant to the aforesaid relaxation provided by MCA, the Securities and Exchange Board of India (SEBI) has also decided to provide relaxation w.r.t. the following requirements till 31 December 2022:
- Requirement of sending physical copies of statement containing salient features of all the documents, as prescribed in Section 136 of Companies Act, 2013.
- The requirement of sending of proxy forms to the holder of the securities in case the meetings are held through electronic mode.
Similar relaxations have also been provided for the entities with listed non-convertible securities.
For Circular 1, click here.
For Circular 2 (Issuers who have listed Non-convertible Securities), click here.
Discontinuation of monthly Solvency Returns – 12 May 2021
During the difficult and challenging times faced by the Indian economy due to the pandemic, the Insurance Regulatory and Development Authority of India (IRDAI) had advised the insurers to submit the monthly solvency returns within 15 days from the end of the respective month, so that their health and solvency position can be closely monitored.
Now, as the economic situation is improving, therefore, the IRDAI has decided to discontinue the filing of the aforesaid monthly solvency returns by the Insurers with immediate effect. However, the insurers whose solvency margin is less than 1.55 as at the end of any quarter, shall continue to report the monthly solvency position until the solvency position is restored to1.55, by e-mail at finance-nonlife@irdai.gov.in.
For more information, click here.