SEBI Circular

Corrigendum to Master Circular for Depositories dated Feb 05, 2021 on Opening of demat account in case of HUF  (Feb 17, 2022)

SEBI has issued a Corrigendum to its Master Circular for Depositories dated February 05, 2021 on Opening of demat account in case of HUF. It has been provided that “In the event of death of Karta of HUF, the name of the deceased Karta in the Beneficial Owner (BO) account shall be replaced by the new Karta appointed by the member of the HUF who in such a case shall be senior most member of the family”. It may be noted that the other provisions of the Master Circular will remain unchanged.


Insurance

Holding more than one Certificate of Registration to one group – IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) Regulations, 2015 (Feb 16, 2022)

Clause (d) of sub-section (9) of Section 2 of Insurance Act, 1938 provides that a “foreign company” engaged in reinsurance business can transact the business of reinsurance through a branch in India. Accordingly, it is clarified that where the ‘applicant’ as defined under Regulation 2(b) of the IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) Regulations, 2015 falls within a group, no other entity of that group shall be eligible to apply for Certificate of Registration to act as Foreign Reinsurance Branch in India. The above instruction comes into force from the date of this Circular.


Goods and Services Tax 

Setup of ‘GST Refund Help Desk’ in the office of Pr. CCA, CBIC (Feb 17, 2022)

The office of Pr. CCA, CBIC has setup a ‘GST Refund Help Desk’ for addressing payment-related problems faced by the taxpayers. Contact details of the Help Desk are as under:

Name of Nodal Officer : Ms Anita Rawat, Accounts Officer
Toll Free Helpline Number : 1800-11-1424
Mail ID : gstrefunds-helpdesk@gov.in


Market Today ( as on 18.02.2022 )

BSE Sensex                  57832.97 (-59.04)
Nifty 50                         17276.30 (-28.30)

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