CORPORATE LAW UPDATES AUGUST 2022
CIRCULAR NO. SEBI/HO/IMD/DF2/CIR/P/2022/102, DATED 28-07-2022
SEBI extends timeline for implementation of direct transaction in ETFs through AMCs till Nov 01, 2022
Editorial Note : SEBI has extended the deadline for implementation of the provision prescribing execution of direct ETF transaction with AMC to November 1, 2022. In order to enhance liquidity of ETFs traded on the stock exchange, SEBI had earlier prescribed that direct transaction with AMCs shall be facilitated for investors for transactions above a specified threshold of Rs. 25 Crores. The deadline for implementing it was July 1, 2022.
CIRCULAR NO. SEBI/HO/DDHS/DDHS_DIV1/P/CIR/2022/103, DATED 29-07-2022
SEBI issues operational circular summarising relevant existing circulars w.r.t Listing Regulations
Editorial Note : The SEBI issues operational Circular which is a compilation of the relevant existing circulars, with consequent changes w.r.t Listing Regulations. For ease of reference, each chapter of this operational circular contains footnotes corresponding to the respective erstwhile circulars. Accordingly, the circulars listed at Annex – 1 stand superseded by this Operational Circular. This circular shall come into force with effect from August 1, 2022.
SECTION 22 OF THE LIMITATION ACT, 1963 – CONTINUING BREACHES AND TORTS
For suit to recover money paid under undue influence, limitation runs from date of payment & not from date of demand for refund – Topline Shoes Ltd. v. Punjab National Bank – [2022] 140 taxmann.com 636 (SC)
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