SEBI Issues FAQs on Cybersecurity and Cloud Frameworks for Regulated Entities
SEBI had introduced the Cybersecurity and Cyber Resilience Framework (CSCRF) vide circular SEBI/HO/ ITD-1/ITD_CSC_EXT/P/CIR/2024/113 dated August 20, 2024 for all SEBI-regulated entities. The framework aims to address rising cyber threats, ensure industry alignment, and improve regulatory compliance through structured governance and audit mechanisms. Following stakeholder feedback and consultations, SEBI has now released a comprehensive set of Frequently Asked Questions (FAQs) to clarify implementation aspects of CSCRF and the associated Framework for Adoption of Cloud Services.
Requirement of Analytical Report & Official Certificate for Spices Exported to Switzerland
Spices Board of India had earlier enabled exporters to obtain an Official Certificate based on a cleared analytical report for shipments to EEA countries including Switzerland (as per Circular No. 24/2022-23). However, updated Swiss regulations particularly Ordinance No. 817.042 (as amended up to March 1, 2025) now explicitly require this certificate for certain foodstuffs, including specific spices and spice products listed under Annex II of Regulation (EU) 2019/1793.
Clarification Regarding Voluntary Compliance Scheme (VCS)
Circulars No. 115 & 116 dated 28.03.2025 launched the VCS to allow promoters to rectify non-compliances and obtain waivers on late fees related to QPR and AAR submissions. Several queries from stakeholders prompted clarification on procedural and substantive aspects of the scheme.
Gas Cylinders (Amendment) Rules, 2025
The Ministry of Commerce and Industry has notified amendments to the Gas Cylinders Rules, 2016, following the publication of the draft rules on December 16, 2024 (G.S.R. 771(E)). As no objections or suggestions were received within the 30-day consultation period, the final rules have been notified through G.S.R. 386(E).
Introduction of Enhanced Inter-operable Services Between E-Way Bill Portals
To address service disruptions and ensure uninterrupted compliance operations, GSTN, in coordination with NIC, has announced the rollout of the E-Way Bill 2.0 portal from July 1, 2025. This initiative introduces real-time integration with the existing E-Way Bill 1.0 system, allowing users to perform critical actions across both portals seamlessly.
Procedure for Resignation of Director
A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in Form DIR-12 and shall also place the fact of such resignation in the report of Directors laid in the immediately following general meeting by the company. [Section 168 (1) of the Companies Act, 2013]
Static and Mobile Pressure Vessels (Unfired) (Amendment) Rules, 2025
Ministry of Commerce and Industry (Department for Promotion of Industry and Internal Trade) has notified amendments to the Static and Mobile Pressure Vessels (Unfired) Rules, 2016
Separate Filing of e-form CSR-2 post the period of transition from MCA21 V2 to V3
MCA is transitioning its MCA21 portal from Version 2 (V2) to Version 3 (V3) for annual and related e-form filings.
Procedure for Appointment of Director in case of Casual Vacancy
• Section 161(4) of the Companies Act, 2013 provides that if the office of any director appointed by the company in general meeting is vacated before his term of office expires in the normal course, the resulting casual vacancy may, in default of and subject to any regulations in the articles of the company, be filled by the Board of Directors at a meeting of the Board [which shall be subsequently approved by members in the immediate next general meeting]. Also any person so appointed shall hold office only up to the date up to which the director in whose place he is appointed would have held office if it had not been vacated.
Relaxation of additional fees for filing of 13 Forms during transition of MCA21 V2 to V3
To ensure a smooth rollout of annual filings and related e-forms in MCA21 V3, the MCA has scheduled a system migration phase.