SEBI Circular
Audit Committee of Asset Management Companies(AMCs) (Feb 09, 2022)

Taking into account the recommendation of Mutual Fund Advisory Committee (MFAC) and the feedback received from the industry, SEBI has prescribed that the AMCs of mutual funds shall be required to constitute an Audit Committee. The role, responsibility, membership and other features of the Audit Committee of AMC are detailed in this circular. Currently, the requirement for an Audit Committee is at the level of trustees of Mutual Funds.


Conversion of Private Unlisted InvIT into Private Listed InvIT (Feb 09, 2022)

SEBI, vide this circular, has provided the manner in which a Private Unlisted InvIT may list its units and convert into a Private Listed InvIT on making a private placement of units through a fresh issue and/or an offer for sale in terms of Chapter IV of the SEBI (Infrastructure Investment Trusts) Regulations. Post issuance and listing of such units through private placement in accordance with this circular, the Private Unlisted InvIT shall stand transformed and shall be considered a Private Listed InvIT and it shall be required to comply with the provisions of the InvIT Regulations prescribed for Private Listed InvITs.


Insolvency and Bankruptcy Board of India

Shri Ravi Mital takes charge as Chairperson of Insolvency and Bankruptcy Board of India (Feb 09, 2022)

Shri Ravi Mital took charge as Chairperson of Insolvency and Bankruptcy Board of India in New Delhi on February 09, 2022. A 1986 batch Indian Administrative Service (IAS) officer of Bihar cadre. Prior to joining the IBBI as Chairperson, he superannuated from the position of Secretary, Department of Sports, Ministry of Youth Affairs and Sports. He has also served as Secretary, Ministry of Information & Broadcasting and Special Secretary, Department of Financial Services, Ministry of Finance. He has also served on Boards of various organisations including State Bank of India, Punjab National Bank, GIC Re etc. During his service, he has served in varied capacities in various Ministries and Departments of the Government.


MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedIn, Facebook & Twitter or join our Whatsapp group .You can also subscribe for our Newsletter for Email Updates.