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Daily Newsletter - May 22, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

SEBI Master Circulars

International Content:

PCAOB Reference Material

Legal Updates:






News Update:

Indian News:

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt

EPFO update: Now, EPF death claims can be processed without seeding Aadhaar

Flipback Tax: Razorpay restructures to cut levy; Groww pegs tax outgo at $70 million

Zee shelled out Rs 432 crore on failed merger with Sony unit

FM Nirmala Sitharaman asks ICAI to set up 'Big 4'- like Indian firm

SEBI issues ‘unaffected price’ concept, other guidelines to help mitigate impact of market rumors on stock prices

Clarification likely on GST on NBFC co-lending

Sebi changes rule to determine mcap, 6-month average to be used now

No tax exemption on concessional or interest free loan from the employer, not even for bank employees, says SC

NFRA bars auditors of 2 Anil Ambani group cos

GST officers working on registration mechanism for 'shared warehouse' for e-commerce suppliers

ED Mumbai arrests businessman in income tax refund fraud of ₹263 crore

RBI in talks with Sebi to allow mutual funds to sell debt to ARCs

Market regulator Sebi offers shield against M&A stock price disruptions


International News:

EY, KPMG upgrade AI capacities for auditors

PCAOB fines MaloneBailey $400K for quality control violations

Auditors failed to raise alarm before 75pc of UK corporate collapses

Exposure Draft:

SEBI Draft:

Consultation Paper on the recommendations of the Expert Committee for facilitating Ease of Doing Business under MB Regulations, BTI Regulations and Buyback Regulations
[Last date for Comments: June 11, 2024] 

Acts & Regulations:

SEBI Master Circulars:

Master Circular for Stock Brokers [Published on May 22, 2024]

Master Circular for Investment Advisers [Published on May 21, 2024]

Master Circular for Research Analysts [Published on May 21, 2024]

Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper [Published on May 21, 2024]

International Content:

PCAOB Reference Material:

Root Cause Analysis – An Effective Practice To Drive Audit Quality
[April 2024]

Legal Updates:


Issuance of partly paid units to persons resident outside India by investment vehicles under Foreign Exchange Management (Non-debt Instruments) Rules, 2019



Industry Standards on verification of market rumours

Framework for considering unaffected price for transactions upon confirmation of market rumour



Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.37(NT)]

E-Waste (Management) Rules, 2022 – Regarding release of imported consignments of producers 106 EEEs items (ITEW1 to ITEW27, CEEW1 to CEEW19, LSEEW1 to LSEEW 34, EETW1 to EETW 8, TLSEW 1 to TLSEW 6, MDW1 to MDW10 and LIW1 to LIW2) as listed in the E-Waste (Management) Rules 2022 [Instruction No.14]

Undertaking from the producers (who includes the Importer) of the base oil or lubrication oil for clearance of consignment [Instruction No.13]



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