Alagar & Associates LLP

🌟August 2026 edition of Our Monthly Newsletter: The Compliance Chronicle! 🌟   At Alagar & Associates LLP, we are happy to release the 22nd edition of our monthly newsletter, “The Compliance Chronicle” August, 2026.   This edition is packed with valuable insights and essential updates to keep you informed about the latest developments in the regulatory landscape:   ✅STATUTE SPOTLIGHTS 1. SEBI's Final Order in the Matter of Unauthorised Pledge of Immovable Property of Zee Entertainment Enterprises Ltd. (ZEEL) — Share Price Falls Around 14.54% 2. SEBI Informal Guidance - Clarification regarding sale of equity shares of various unlisted companies held by IDBI Bank Limited to non-QIB investors  3. SEBI Adjudication Order Involving 20 Entities – Violation of SAST Disclosure Obligations in the Matter of Ultracab (India) Ltd. 4. NSE’s Suggested Best Practices for SDD and UPSI Compliance under Circular Ref. No. NSE/CML/2026/19 dated August 07, 2026. 5. SEBI Final Order in the Matter of Varanium Cloud Limited 6. SEBI Final Order in the Matter of Max Financial Services Limited ✅Reform Radars 1. Tribunals Reforms Bill, 2026: Key Changes and the Road Ahead ✅IPR SPECTRUM 1. Same “Cycle”, Different Ride: Trademark Journey to The Madras HC. ✅SUPREME COURT ORDER  1. Supreme Court Verdict on term “Industry” and position under Industrial Relations Code, 2020 ✅ADJUDICATION OUTCOMES 1. ROC Adjudication Orders Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Manoj Kumar Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan Dhaani H #Newsletter #TheComplianceChronicle #RegulatoryUpdates #MCA #CorporateInsights #companysecretary #listedcompany

📢 Deadline extended - CCFS 2026 The Ministry of Corporate Affairs has extended the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) upto September 15, 2026. The companies who are unable to file within originally deadline, may make use the extension. The Scheme provide almost 90% concession on filing fee.  Alagar & Associates LLP, Company Secretaries

Team Alagar & Associates LLP, Company Secretaries ✨Wishing everyone a joyful and prosperous Onam! May the spirit of Onam fill every heart with happiness and every endeavour with prosperity, growth, and success. ✨ Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Manoj Kumar Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan Dhaani H #HappyOnam #Onam2026 #OnamWishes #FestiveSpirit

June 2026 | CS Result A moment of immense pride and happiness for all of us at Alagar & Associates LLP, Company Secretaries, as we celebrate the success of our team members in the June 2026 CS Professional Examination. Very warm congratulations to Manoj Kumar, Naveen A and Bhuvaneswari Ganesamurthy on successfully clearing the CS Professional Examination and obtaining the esteemed qualification of Company Secretary. Your success is a reflection of the dedication, determination, and consistent efforts you have put in throughout this journey. We are equally delighted to congratulate Saravana kumar s, Reshma ., Akshaya Srinivasan and Rohith Hari V on clearing one group of the CS Professional Examination. This achievement marks an important milestone and brings you another step closer to becoming a qualified Company Secretary. What makes these achievements particularly special is the effort behind them. Managing professional responsibilities and demanding work schedules while preparing for one of the most challenging professional examinations requires tremendous commitment and determination. Your ability to stay focused, resilient, and committed speaks volumes about your character and professional spirit👏✨ Few of our team members just missed magic threshold of 50% in few marks. Just keep focusing, you will certainly sail through in your next attempt! Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Nivetha M Madhumitha V Amoga Priyan Surbhi Mundhra Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan Dhaani H #CSProfessional #CompanySecretary #ICSI #TeamSuccess #ProudMoment

⚖️Supreme Court Verdict on term “Industry” and position under Industrial Relations Code, 2020 In State of Uttar Pradesh v. Jai Bir Singh (2026 INSC 897), the Supreme Court’s Nine-Judge Constitution Bench has revisited the scope of “industry” under Section 2(j) of the Industrial Disputes Act, 1947. The Court, by a 6:3 majority, has ultimately left the Bangalore Water Supply Triple Test undisturbed for existing disputes under the Industrial Disputes Act. At the same time, the judgment offers important observations on the proposed reformulation of the Triple Test, sovereign functions, welfare activities, liberal professions, the dominant nature test and severability. The Court has also made it clear that the Industrial Relations Code, 2020 will have to be interpreted independently. For a detailed view of the judgment, its reasoning and key takeaways, please refer our note attached herewith. Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Manoj Kumar Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan Dhaani H #LabourLaw #SupremeCourt #IndustrialDisputesAct #IndianLegalUpdates

Moved abroad after making an Overseas Investment from India❓ Your duty to bring the money back did not move with you. Here is a question we get often: You have made an Overseas Direct Investment (ODI) while you were a resident in India, using funds held in India. Years later you move abroad and become an NRI. You sell that investment. Do you still have to bring the sale proceeds back to India? 📌As per Regulation 9(4) of the Foreign Exchange Management (Overseas Investment) Regulations, 2022 (“OI Regulations”), a person resident in India having ODI in a foreign entity, shall realize and repatriate to India, all dues receivable from the foreign entity with respect to investment in such foreign entity, the amount of consideration received on account of transfer or disinvestment of such ODI and the net realisable value of the assets on account of the liquidation of the foreign entity as per the laws of the host country or the host jurisdiction, as the case may be, within ninety days from the date when such receivables fall due or the date of such transfer or disinvestment or the date of the actual distribution of assets made by the official liquidator. On a plain reading of Regulation 9(4) of the OI Regulations, it may be contended that the repatriation obligation thereunder is expressed in terms applicable to “a person resident in India,” and that such obligation consequently ceases to operate upon the investor’s subsequent transition to non-resident status. ⚖️ Section 6(4) & (5) of the Foreign Exchange Management Act, 1999 are grandfathering provisions that enables a departing resident to keep Indian assets he bought as a resident and vice-versa. The same logic holds good, if rights survive a change of status, duties too Iike repatriation obligation, etc. So, when you made ODI originally as resident in Indian from the funds held in India, your subsequent residential status will not alter your obligations such as repatriation of sale proceeds of ODI into India and formal closure of UIN. You may need to bring back sale proceeds to your NRO account. Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Manoj Kumar Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan Dhaani H #FEMA #NRI #ForeignExchange #Compliance #Finance

🌟Welcoming Our New Team Member!🌟 We at Alagar & Associates LLP, Company Secretaries, are delighted to extend a warm welcome to Ms. Dhaani H, who have joined our team as Management Trainee. Your journey with us begins today, and we’re excited to have you on board. This is a great opportunity to learn, explore, and build a strong foundation for your professional future. We encourage you to stay curious, take initiative, and make the most of every experience that comes your way. Here’s wishing you a successful and fulfilling journey ahead. We look forward to your growth and contributions to the firm! 🤝✨ Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Manoj Kumar Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan #WelcomeAboard #Onboarding #NewBeginnings #TeamGrowth #ManagementTrainees #ProfessionalJourney

🌟Completion of Training🌟 Today, we extend our heartfelt congratulations to Ms. Akshaya Srinivasan and Mr. Rohith Hari V on successfully completing their training with us as a Management Trainee. Throughout her journey with us, Akshaya has consistently demonstrated dedication, perseverance, and a genuine commitment to learning. Her focused approach and willingness to take on responsibilities helped her develop strong expertise in her area of work. She approached every task with confidence and attention to detail, continuously striving to improve and deliver quality work. Her willingness to learn, take ownership, and support her teammates has made her a dependable and valued member of the team. Throughout his experience with us, Rohith Hari has been someone whose contributions often speak louder than words. He quietly took ownership of his responsibilities and consistently ensured that the work was completed, without ever seeking attention or recognition. His willingness to take on different kinds of work and step in wherever required showed his adaptability and commitment to the team. His calm nature, dependable approach, and consistent efforts have made a meaningful contribution to the team, even when his work often went unnoticed. We wish them continued success, happiness, and growth as they move forward in their professional journey. May they continue to embrace new challenges, learn along the way, and achieve many more milestones in the years ahead👏🤝 Alagar M CS Saravanan D CS Ramya Devi Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Karthik Narayana Jayashree Shivani J N Gowri Sankari Saravana kumar s Nivetha M Madhumitha V Amoga Priyan Reshma . Surbhi Mundhra Naveen A Madhavan Kathod Mohamed Haneef Rohith B. Ragav Krishna Kadhirvel S Geetha S Rangesh RB Mahalakshmi Shanmugam M PRATHEEP Princy aruna Thahira Dhuslima Ramu Vignesh Muruganandam Trilok M Sriranjani S Bharathi Priya S Meera Nadarajan #Trainingcompletion #ProfessionalJourney #CS #ProudMoment #Growth

Veritas Finance files its DRHP with SEBI for IPO We at Alagar & Associates LLP, Company Secretaries are proud to have supported Veritas Finance Limited in filing its Draft Red Herring Prospectus (DRHP) with SEBI on July 29, 2026, for a fresh issue of up to ₹900 crore and an Offer for Sale (OFS) of up to 1.28 crore equity shares. Founded in 2015 and headquartered in Chennai, Veritas Finance is a retail-focused, non-deposit-taking NBFC (classified as an NBFC–Middle Layer by the RBI) that has built a strong franchise lending to MSMEs and self-employed individuals, with a portfolio that now spans business loans, housing loans, used commercial vehicle loans and working capital loans. The company has scaled its assets under management to over ₹9,100 crore as of March 31, 2026, growing at a CAGR of ~26% over FY24–FY26, and reported a profit of ₹330 crore in FY26. Our team members CS Saravanan D, CS Ramya Devi, Karthik Narayana, Rethika Shrinivas, Kadhirvel S, Madhumitha V and Nivetha M , worked diligently under the guidance of our Managing Partner, Alagar M to ensure execution of the engagement both in terms of accuracy and in a time-bound manner. We extend our sincere appreciation to Aruna Venkatesh, M S Keerthana and the leadership team at Veritas Finance for their trust and collaboration throughout this engagement. Heartiest congratulations to the entire Veritas team and all stakeholders on achieving this significant milestone! Bharathi Vijayakumar CS Shylaja Ramarathinam Kalpana Mahendran CS Dhinisha Raja Jayashree Shivani J N #IPO, #CapitalMarkets, #SEBI, #NBFC, #InvestmentBanking, #EquityMarkets, #DRHP, #MSMEFinancing, #CorporateLaw