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CAalley Newsletter dated March 20, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

SEBI Master Circular

Reference Section:


Useful Forms:

Income Tax Forms

Legal Updates:



News Update:

Indian News:

Insurers to link property cover rates to past claims

RBI fines RBL Bank Rs 2.27 cr for failure on internal ombudsman scheme

Sebi, investment bankers turn cautious as IPO market faces uncertainty

GST dept to scrutinise I-T, MCA data to identify entities not paying taxes

Foreign lawyers, law firms cannot appear in courts, judicial forum: BCI

RBI governor: Need system to redress plaints tied to digital payments

Sebi takes stricter approach in IPO clearance; returns draft paper of 6 cos

Annual transparency reports by large firms’ auditors from FY23

80,000 cases pending before CESTAT; Govt to set up committee to suggest steps to reduce litigation

New age firms in payment space reluctant to comply with rules at times: Das

Sebi comes out with requirement to process investors' service requests


International News:

KPMG’s 29-year SVB stint stirs independence debate

FASAB issues bulletin on reimbursable work agreements

Deloitte Hit by Record China Fine, Suspension Over Huarong

Acts & Regulations:

SEBI Master Circular:

Master Circular for Portfolio Managers [Issued on March 20, 2023]

Reference Section:


Responsibilities of Lead Auditors to Conduct High-Quality Audits When Involving Other Auditors [Published by US Securities and Exchange Commission (SEC)]

Useful Forms:

Income Tax Forms:

Form 10B
Audit report under section 12A(b) of the Income-tax Act, 1961, in the case of charitable or religious trusts or institutions

Form 10BB
Audit report under section 10(23C) of the Income-tax Act, 1961, in the case of any fund or trust or institution or any university or other educational institution or any hospital or other medical institution

Legal Updates:


IEPF Order for Rejection Under Rule 7(3) & 7(7) dated 16th March 2023


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