Relaxation in mutual fund compliance extends implementation deadlines and reporting timelines under SEBI powers to accommodate disruptions.
SEBI extended implementation deadlines for three mutual fund policy measures-liquid asset minimums for liquid funds, revised sector exposure limits for existing open ended schemes, and the change from amortisation based valuation for money market and debt securities-to a later uniform date. It also extended timelines for submission of cybersecurity audit reports and for filing mutual fund scheme annual reports for 2019-20. These relaxations are issued under Section 11(1) of the SEBI Act read with Regulation 77 of the Mutual Funds Regulations, 1996.

Import licence cancellation for specified COVID-19 diagnostic kits: importers must cease imports and notify stakeholders.
Importers must stop imports of COVID-19 rapid diagnostic kits from Guangzhou Wondfo Biotech and Zhuhai Livzon Diagnostics following a drug regulator clarification; show cause notices have been issued and steps are being taken under the Drugs & Cosmetics Act, 1940 to cancel the pertinent import licences. Stakeholders are instructed to publicise the notice, departmental officers must treat it as a standing order, and specified contacts are provided for implementation difficulties.

Virtual personal hearings via video conferencing enable electronic records of submissions to be treated as formal documents in customs proceedings.
Personal hearings under the Customs Act may be conducted by video conferencing with prior consent and email contact; hearing schedules and secure links will be sent in advance and representatives must submit scanned authorisations and photo ID. Oral submissions will be reduced to a written record of personal hearing sent by PDF within one day; parties may modify and return the signed record within three days or it will be deemed accepted. Additional self attested documents may be emailed within three days; the electronic record will be treated as a document for purposes of the Customs Act.

Filing deadline extension: NFRA-2 submissions allowed from form deployment date for the applicable reporting period.
The Ministry of Corporate Affairs extended the filing time for Form NFRA-2 for the Financial Year 2018-19: the filing period is 210 days from the date the form is deployed on the National Financial Reporting Authority website, issued in continuation of an earlier circular and with the approval of the competent authority.

Virtual personal hearings via video conferencing authorized to preserve social distancing in indirect tax proceedings.
Personal hearings in proceedings under the Customs Act, Central Excise and Chapter V of the Finance Act are to be conducted via video conferencing to ensure social distancing; Commissioners (Appeals), original adjudicating authorities and compounding authorities may hold virtual hearings, and taxpayers, importers, exporters, advocates, tax practitioners and authorized representatives are encouraged to use modern information and communication technology and remote participation from locations of their choice.

Extension of regulatory return deadlines allows delayed filings during the COVID-19 period and mandates corporate e-mail submissions.
Regulatory returns required to be submitted to the Department of Regulation may be filed with a delay of up to 30 days from the due date for returns whose original due dates fall on or before June 30, 2020; entities able to file earlier should do so. No extension is permitted for statutory returns prescribed under the Banking Regulation Act, the RBI Act or other statutes. Communications to the Department should be routed via corporate e mail to minimize physical paperwork. The Annex lists the specific returns and applicable frequencies covered by this relief.

Social distancing: Customs brokers must submit documents at hall entrance; entry barred and hourly compliance checks enforced.
Customs Brokers must submit and receive documents at a table at the Appraising Hall entrance and are prohibited from entering the Appraising Hall; authorized personnel will carry documents to and from the respective Appraising Officer/AC/DC. Appraising Groups shall check compliance hourly, and brokers must maintain social distancing in corridors and waiting areas, with any compliance difficulties to be reported to the undersigned.

Virtual personal hearings under Customs Act enable videoconference hearings with consent, secure links, written hearing records and return deadlines.
Personal hearings under the Customs Act may be conducted by videoconference with party consent; authorities will notify secure links and schedule, representatives must file scanned authorization and ID by official email, and hearings will be recorded as a written "record of the personal hearing" sent as a PDF to the party. Parties may amend and return the signed record within three days, after which the record is deemed agreed. Self-attested documents may be emailed within three days post-hearing; the emailed record will be treated as a document under electronic record rules.

Virtual personal hearings via video conferencing authorized for Customs proceedings, requiring consent, electronic notice and certified record.
Personal hearings under the Customs Act, 1962 may be conducted by video conferencing with party consent, advance electronic notice containing a secure link and officer-in-charge details, and submission of scanned vakalatnama/ID by representatives. Oral submissions will be reduced to a "record of personal hearing" sent in PDF within one day; parties may sign and return modifications within three days or be deemed to agree. Electronic records are deemed documents under section 138C of the Customs Act read with the Information Technology Act, 2000.

Virtual personal hearings permitted under customs law to conduct appeals and adjudications via video conference while ensuring social distancing.
Personal hearings under the Customs Act, 1962 may be conducted through video conference for proceedings before Commissioners (Appeals), original adjudicating authorities and compounding authorities to expedite appeals and adjudication, ensure social distancing for stakeholders, and enable parties and representatives to participate remotely; detailed procedural and technical guidelines are set out in the Board instruction (see paragraph 4).

Virtual personal hearings by video conferencing authorized for Customs proceedings, with emailed records deemed valid under electronic law.
Personal hearings under the Customs Act, 1962 may be conducted by video conferencing with prior consent and provision of an email address; hearing links and schedules will be sent by official electronic means and must not be shared. Representatives must file scanned authorization and photo ID by official email. Oral submissions will be reduced to a written "record of personal hearing" sent in PDF within one day; parties may modify and return the signed record within three days, after which the authority will assume agreement. Electronic records are admissible under section 138C and Information Technology Act provisions.

Free Sale and Commerce Certificate acceptance via email permitted; authorities to issue certificates and deficiency notices electronically.
Applicants for Free Sale and Commerce Certificates should submit ANF 2H applications by the concerned Regional Authority's official email and pay fees via the e MPS system; Regional Authorities shall accept emailed applications without requiring hard copies and shall issue certificates and deficiency letters by email.

Virtual personal hearings by video conferencing enable remote oral submissions with an emailed record treated as an admissible document.
Personal hearings under the Customs Act may be conducted by video conferencing with party consent and advance email notice of date, time and secure link; representatives must submit scanned vakalatnama and ID. Oral submissions will be reduced to a written record of personal hearing, sent as a PDF promptly to the party for confirmation or amendment, and will be deemed a document under section 138C read with Section 4 of the Information Technology Act, 2000. Documents filed during the hearing must be self-attested and emailed within the prescribed short period.

Grandfathering of unlisted NCDs preserved; mutual funds may transact subject to due diligence and extended compliance timeline.
Grandfathering of existing unlisted non-convertible debentures (identified NCDs) is confirmed as an industry-wide concession allowing mutual funds to transact in and hold those instruments until maturity, subject to ongoing investment due diligence and applicable investment restrictions. The compliance timeline for maximum exposure limits to unlisted NCDs within a scheme's debt portfolio has been extended to later dates, while the regulatory power to protect investor interests and regulate the securities market is invoked to issue this clarification.

Virtual personal hearings by video conferencing enable remote conduct and electronic records of Customs Act adjudications for procedural continuity.
Personal hearings under the Customs Act, 1962 may be conducted by video conferencing with party consent; authorities will inform secure links and designate assisting officers. Representatives must submit scanned authorization and photo ID by official email. Oral submissions will be converted into a signed "record of personal hearing", emailed in pdf within one day; lack of response within three days will be deemed agreement. The emailed record is a document under Section 138C of the Customs Act read with Section 4 of the Information Technology Act, and the guidelines apply mutatis mutandis to Central Excise and Finance Act proceedings.

Virtual personal hearings under Customs Act: proceedings to be conducted via video conferencing; stakeholders must comply.
Personal hearings under the Customs Act, 1962 are to be conducted by video conferencing to limit physical presence and ensure social distancing; the Board's circular directs adoption of virtual hearings for proceedings (including those outside existing EDI/ICEGATE coverage), applies to importers, exporters, consultants, advocates, customs brokers and other stakeholders, and treats these guidelines as standing orders for officers with a designated Joint Commissioner as point of contact for implementation issues.

Virtual personal hearings under the Customs Act allowed; parties must consent, provide email, and follow record and submission procedures.
Virtual personal hearings under the Customs Act are permitted with party consent; parties must provide email for service, receive secure videoconference links, and submit scanned vakalatnama and photo ID by email for authorised representatives. Hearings occur from official facilities using approved secure applications. Oral submissions will be reduced to a written record emailed as a PDF; parties may modify and return the signed record within three days, otherwise the emailed record is treated as agreed. Electronic records are recognised consistent with the Information Technology Act, and additional self attested documents may be emailed within three days after hearing.

Virtual personal hearings by video conferencing enable remote appellate and adjudicatory participation with emailed records deemed documents.
Personal hearings under the Customs Act may be conducted by video conferencing with prior consent and email contact; schedules and secure links will be sent by official electronic channels, representatives must file scanned vakalatnama and ID, hearings will use official VC facilities and approved applications, and submissions will be reduced to a written record of personal hearing sent by email and treated as a deemed document under the Act and the Information Technology Act.

Virtual personal hearings under the Customs Act permit video-conference adjudication with emailed hearing records treated as official documents.
Personal hearings under the Customs Act will be conducted via video-conference with parties required to consent, provide email contact, and receive secure hearing links; representatives must email scanned authorization and ID. Submissions will be reduced to a PDF record of personal hearing sent to parties within one day, amendable by signed return within three days, and thereafter treated as agreed; additional self attested documents may be emailed within three days of the hearing. The electronic record is admissible as documentary evidence under provisions recognizing electronic records.

Transshipment permission renewed for air carrier to move imported cargo between designated air cargo complexes, subject to customs conditions.
Renewal of transshipment permission to M/S Interglobe Aviation Ltd permits transshipping imported cargo between New Delhi Air Cargo Complex and specified other Air Cargo Complexes until 27.07.2020, subject to Chapter VIII of the Customs Act, the Goods Imported (Conditions of Transshipment) Regulations, applicable Board circulars and related rules. Conditions include execution and maintenance of an Import Transshipment Bond and bank guarantee, prescribed accountal and proof-of-delivery procedures, carrier liability for shortage or pilferage with duty and penalties, compliance with the Foreign Trade Policy, payment of cost recovery charges, prohibition on outsourcing without permission, and maintenance of bond, service agreement and insurance.