Regulatory Changes Due to Covid 19

Regulatory Changes Due to Covid 19

Total Count : 2013; Website updated as on 3rd December, 2020 | Displaying data for the month of December 2020

November 2020 October 2020 September 2020 August 2020 July 2020 June 2020 May 2020 Apr 2020 Jan-Mar 2020

Central / StateDocument TitleDate IssuedSummaryMandatory or AdvisoryIndustry(ies) ImpactedValid TillDoes it Impact Komrisk Database?
CentralSEBI extends the timelines for compliance with certain regulatory requirements by Trading/ clearing members and DPs

01-12-2020In view of the continued impact of COVID-19, the Securities and Exchange Board of India has further relaxed the timeliness for the following compliances:

Relaxation for Trading Members and Clearing Members:

Internal Audit for half year ended on September 30, 2020 – Time line extended to December 31, 2020
System Audit for half year ended on September 30, 2020 – Time line extended to December 31, 2020
Half yearly net worth certificate as on September 30, 2020 – Time line extended to December 31, 2020
Cyber Security and Cyber Resilience Audit for half year ended on September 30, 2020 – Time line extended to January 31, 2020

Relaxations for depository participants (DPs):
Submission of half yearly Internal Audit Report by DPs for the half year ended on September 30, 2020 – Time line extended to December 31, 2020
Systems audit on annual basis for the financial year ended March 31, 2020 – Time line extended to December 31, 2020

For uploading of KYC application form and supporting documents of the clients on the system of KRA within 10 working days – The period of exclusion will be from March 23, 2020 to December 31, 2020. Additionally, after December 31, 2020 another 15-day time period is allowed to Depository / DPs, to clear the back log.

For a detailed read, please refer to the attached file.
MandatoryListed CompaniesDifferent dates for complaincesYes
ChandigarhChandigarh Health Dept. notifies fine for not wearing face masks; fine of Rs. 1000/- to be imposed on violators01-12-2020The Health Department of Chandigarh has notified that people who do not wear face masks will be punishable with fine of Rs. 1000/-.

Non-payment of above-mentioned fine by violators will attract proceedings under Section 188 of the Indian Penal Code, 1860.
Mandatory AllNo end date specifiedNo
CentralMCA further extends last date to file Cost Audit Report ( CRA-4) for FY 2019-20 to 31.12.202001-12-2020The Ministry of Corporate Affairs ("MCA") has, in a Circular dated December 01, 2020, further extended the timeline for filing of Form CRA-4 (form for filing of cost audit report) for the Financial Year (FY) 2020 due to the continued impact of COVID-19 pandemic.

Earlier, in an Order dated 10.09.2020, the MCA had permitted  Cost Audit Report for the financial year 2019-20 to be submitted by the cost auditor to the Board of Directors of the companies by 30th November, 2020.  With the current Circular dated 01.12.2020, the time has been extended till 31st December, 2020 within which Cost Audit Report for the financial year 2019-20 can be submitted without violating the timeline prescribed.
MandatoryAll31.12.2020Yes