|Quote of the day
“Every sunset is an opportunity to reset. Every sunrise begins with new eyes.”
– Richie Norton
'Trust' is an integral part of any relationship. It is a 2-way street with 'Truthfulness' and 'Transparency' riding high on it.
Almost a decade ago, as I battled cancer, I had no choice of turning away my customers nor closing down my practice. I had no choice but to trust my small team to deliver without me. I watched them learn and grow. Rise and fall. Feel empowered and confident. I Trusted & Delegated. The team took Ownership.
Long before COVID, I changed the medical leave rules. Made it unlimited with pay. I trusted my team to avail sick leave only when actually unwell. It worked. In the last several years, each time every one of them has shared with me the actual health reason for abstaining from work. Even if on leave, they have worked from home once they got better, long before WFH was an option. The culture of Trust, Transparency and Truthfulness has rubbed off on the new joinees as well. Seldom have they misused the freedom.
As we close the 2nd year of the 3rd decade of the 21st century, and get ready to welcome a bright new 2023, my 'trust' in trusting employees has grown deeper and stronger. Let me share 3 latest instances:
I have just picked 3 recent instances but it is incredible how rest of the team has risen to the occasion and held fort ungrudgingly, not only in these instances but also in several others over the years, despite their own personal challenges. Their remarkable solidarity with one another is so heartening. Stemming as I said, from the culture of 3 Ts – Trust, Truthfulness & Transparency !!
While I sign off 2022 on this reflective positive note, I urge you to go through the other sections of this 283rd issue of Samhita – Regulatory Updates, Better Business Communication, Books-Best Buddy & Statutory Calendar. Wishing all the readers a happy, safe and fulfilling year 2023 ahead !!
For any previous issues of Samhita and the readers' feedback, please visit our website.
© Viktor E. Frankl
Man's Search for Meaning
Author: Viktor E. Frankl
The book is an autobiography of Dr Viktor E Frankl who survived the Auschwitz concentration camp and holocaust.
The author brings out his personal experience towards surviving the camp and finding a meaning to life whilst facing the ordeal. He cites various intriguing instances with exemplary explanation on “delusion of reprive”, paradoxial time-experience reminding of Thomas Mann’s The Magic Mountain, and reminding of the Nietzsche’s words,“He who has a why to live for can bear with almost any how”The latter being the key factor leading to his survival and of his peers, helping many from suicidal tendancy, and rising like a phoenix from the holocaust.
Professionally as a doctor having survived the holocaust Dr Frankl easily brings out his own theory on Logotherapy which seamlessly blends from his experience from the holocaust.
The book brings out the struggles during and after effects of war. Though irrelevant for many at this juncture, the essence towards searching a meaning for survival in extreme circumstances keeps us engrossed and immersed in the book for any challenges one may have to overcome.
Suggested By: Lt Cdr Vasanth Sridharan (Retd, IN)
M/s Pinaka Aerospace Solutions Pvt Ltd
A Zetwerk Company
The only type of emails that could be long are ‘thank you’ notes. Short emails are the best for any purpose other than a thank you note. While writing a thank you note, do mention how much a person’s effort of guidance really helped and how much you actually appreciate it.
Following is a thank you note that I wrote my tutors when I got selected for my dream job:
Subject line: Thank you note/ Thank you for…./ Gratitude for……..
Hope you are doing good.
You have helped me a lot to understand the basics and the nuances of teaching English. More importantly, I admire the way all of you continue to be enthusiastic even after a tiring day. I adore your patience. I always wish I could be as good as all of you in the subject, in teaching and also be patient and cheerful.
I couldn’t have done this if I hadn’t had wonderful tutors like you. Your words still echo in my ears. I wait for my students to speak, I don’t ask them “Do you understand? Any questions?”. I do figure out if they understood. I don’t hesitate to do anything in the class that would help the learners to understand what I teach. I plan every minute of the lesson keeping the learners’ needs in my mind. I am sure I have a lot more to learn. I am looking forward to learning them from wonderful professionals like all of you.
Thanks a lot for being amazing tutors. I want to be a great teacher like all of you in the future.
1. SEZ Monthly Return for the Previous month
1. TDS/TCS payment
2. STPI Monthly Return for the previous Month
3. Monthly Return in ECB – 2 under FEMA
4. Equalization Tax
1. GSTR-7 (Return of TDS made)
2. GSTR-8 (TCS By Ecom Operator)
1. GSTR-1 monthly return for December, 2022 aggregate turnover more than 1.50 crores
1. GSTR-1 (Oct-Dec 2022) Quarterly Return
2. GSTR-6 (ITC by ISD)
1. PF Payment
2. Annual Contribution to Karnataka Labour Welfare Fund
1. GSTR-3B for the month of December, 2022
2. GSTR-5 (Non Resident Tax Payer)
3. GSTR-5A (Non ResidentTax Payer)
4. PT Payment
1. E.S.I.C payment
1. ITC-04 (Oct-Dec 2022) Quarterly Return for Job Work
2. PF Return – Monthly
1. TDS / TCS Return-Quarterly
In August 2022, forms relating to DIN, Deposit and Charges were migrated from MCA V2 portal to MCA V3 portal. It was also informed that other company forms would be gradually migrated to V3. About 56 forms are now slated to be released in a phased manner on MCA V3 portal starting from January 09, 2023. Due to the migration, filings on the portal will be affected as follows:-
A list of the 56 forms with their release date is enclosed for the reference of readers.
In reference to its General Circular no. 20/2020 dtd 05.05.2020 and General Circular no. 02/2022 dtd 13.01.2021, General Circular no 19/2021 dtd 08.12.2021 and General Circular no. 2/2022 dtd 05.05.2022, MCA has clarified that companies whose AGMs are due in the year 2023 may conduct their AGMs on or before September 30, 2023 through VC or OAVM
(Refer MCA General Circular No. 10/2022 dtd December 28, 2022)
MCA vide its General Circular no. 11/2022 has allowed companies to conduct their Extra-Ordinary General Meetings (EGM) through VC or OAVM or to transact items through postal ballot for a period up to September 30, 2023 in accordance with the framework provided in its General Circulars issued during 2020 and 2021.
(Refer MCA General Circular No. 11/2022 dtd December 28, 2022)
With effect from February 15, 2020 the registration under Employees' State Insurance Corporation (“ESIC”) for public and private limited companies and One Person Company was disabled on the Shram Suvidha portal. Since then, the registration was enabled through form AGILE-PRO on MCA portal as a part of the incorporation process of companies. The ESIC has issued a circular dtd December 22, 2022 stating that companies which haveavailed ESIC registration through AGILE PRO need not comply with the provisions of ESI Act, 1948 for 6 months from registration or till they breach threshold limits whichever is earlier. Further, if a company does not breach the threshold limits within 6 months, it has to login to ESIC Website and extend the dormant mode. Failure to do so, will automatically activate the company and the company will have to start complying with the requirements under ESIC Act. Necessary actions will be taken against the employer of defaulting units.
(Refer to ESIC Notification I/145485/2022 dtd December 22, 2022)
Regulation 10(a) of SEBI (Alternative Investment Funds) permits Alternative Investment Funds(“AIFs”) to raise funds from any investor whether Indian, foreign or non-resident Indians by way of issue of units. SEBI vide its Circular dtd December 09, 2022 has notified the framework for on-boarding foreign investors by AIFs. The circular is applicable to all AIFs with immediate effect. As per the circular the Manager of AIF has to ensure that
An investor who has been on-boarded to AIF and subsequently fails to meet the above criteria, then the manager shall ensure that there is no drawdown of any further capital contribution from such investor until the criteria is satisfied again. The same applies to investors who have been on-boarded already.
As multiple circulars were issued in respect of disclosure requirements to be complied by issuers of Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper, SEBI had released Operation Circular on July 29, 2022 by compiling various existing circulars with consequent changes. The same was effective from August 01, 2022. SEBI has now released updated operational circular in respect of the same on December 01, 2022.
SEBI vide its Circular dtd December 09, 2022 has clarified that the operational circular for Scheme of Arrangement(“SOA”) by entities who have listed their Non-convertible Debt securities (“NCDs”)/ Non-convertible Redeemable Preference shares (“NCRPS”) shall not be applicable for SOA which is solely between a debt listed entity and its unlisted wholly owned subsidiary. However, such debt listed entity shall file SOA with Stock Exchanges (“SEs”) for disclosure and SEs shall disseminate the same on their websites.
Accordingly, Chapter XII of the Operational Circular dtd July 29,2022 updated on December 01, 2022 stands modified.
In terms of Proviso to Regulation 31A (10), IBBI has vide its Circular dtd December 21, 2022 notified a format for reporting decisions of the liquidator which are different from the advice given by Stakeholders' Consultation Committee (“SCC”).