SEBI
Addendum to SEBI Circular on Development of Passive Funds (JUL 28, 2022)
Clause 2(IV)(A) of the SEBI circular No. SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated May 23, 2022 on “Development of passive funds” prescribed that in respect of units of ETFs, direct transaction with AMCs shall be facilitated for investors only for transactions above a specified threshold of INR 25 Cr.
Subsequently, feedback was received from stakeholders expressing certain challenges with respect to implementation of the above clause. Considering the same, it has been decided that the applicability of clause 2(IV)(A) of the circular shall be November 01, 2022 instead of JUL 1, 2022.
This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996.
MINISTRY OF CORPORATE AFFAIRS
Appointment of Judicial Members and Technical Members in the National Company Law Appellate Tribunal (JUL 28, 2022)
In exercise of the powers conferred by section 410 of the
Companies Act, 2013 (18 of 2013) read with sub-section (2) of section 3 of the
Tribunals Reforms Act, 2021 (33 of 2021), the Central Government hereby
appoints the following persons as Judicial Members and Technical Members in the
National Company Law Appellate Tribunal for a period of four years from the
date of assumption of charge mentioned against the name of each such member, or
till attaining the age of sixty-seven years, whichever is the earlier.
|
Sl. No. |
Name of the Member |
Judicial Member/Technical
Member |
Date of assumption of charge |
|
1. |
Justice (Retd.) Rakesh Kumar Jain |
Judicial Member |
17/05/2022 |
|
2. |
Justice (Retd.) Rakesh Kumar |
Judicial Member |
17/05/2022 |
|
3. |
Justice (Retd.) M. Satyanarayana Murthy |
Judicial Member |
16/06/2022 |
|
4. |
Shri Barun Mitra |
Technical Member |
17/05/2022 |
|
5. |
Shri Naresh Salecha |
Technical Member |
17/05/2022 |
ENFORCEMENT DIRECTORATE
Around Rs 50 Cr Seized from Arpita Mukherjee So Far; 'Disgrace', Says TMC Leader (JUL 28, 2022)
The Enforcement Directorate (ED) on Thursday, 28 July, recovered Rs 27.9 crore in cash along with gold jewellery from an apartment of Arpita Mukherjee, an 'aide' of arrested West Bengal Minister Partha Chatterjee.
The ED had earlier said that cash amounting to Rs 20 crore had been recovered from Mukherjee's Belghoria flat on Wednesday. In total, around Rs 50 crore in cash has been seized by the central agency so far, news agency PTI reported officials as saying.
RBI
Digital payments record 29% annual growth at March-end 2022: RBI data (JUL 28, 2022)
The Reserve Bank of India’s (RBI) digital payments index (DPI) rose to 349.30 as of March 2022, as against 304.06 in September 2021, thus reflecting the rapid adoption of digital payments in the country. Launched in January 2021, the DPI index indicates the extent of digitisation of payments across the country.
The RBI-DPI has been constructed with March 2018 as the base period, i.e. DPI score for March 2018 is set at 100.
NEWS AT GLANCE
- Centre invites proposals from pharma companies to develop vaccines and diagnostic kits for monkeypox.
- External Affairs Minister Dr S Jaishankar to embark on a two-day visit to Uzbekistan today to participate in SCO Foreign Ministers meeting.
- US Federal Reserve hikes interest rate by 75 basis points to check inflation.
WORD OF THE DAY
Bankruptcy is a system of statutes and courts which permits persons and businesses which are insolvent (debtors) or (in some cases) face potential insolvency, to place his/her/its financial affairs under the control of the bankruptcy court.
The procedure is that when the debtor's debts exceed his/her/its assets or ability to pay, the debtor can file a petition with the bankruptcy court for voluntary bankruptcy or the debtor's unpaid creditors can file an "involuntary" petition to force the debtor into bankruptcy.
MARKET TODAY (as on 28.7.2022)
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1 US Dollar = 79.64 Indian Rupee (Last updated · 28 July at 1:58 pm UTC)
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