Introduction of Composite caps for simplification of Foreign Direct Investment(FDI) Policy to attract Foreign Investmentson various

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The Department of Industrial Policy and Promotion has issued a press note No. 8 (2015 Series) after reviewing the caps in FDI Policy on various sectors in the Consolidated FDI Policy Circular of 2015 which is in force from 12th May, 2015 by introducing various composite caps to ensure and bring up simplification and uniformity amongst the various sectors in FDI Policy for attracting foreign invest...
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ICSI comes out with the responses to stakeholders queries w.r.t SS-1 & SS-2 under CA 2013

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This is with reference to the announcement inviting queries/concerns from stakeholders on Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) issued by ICSI, effective from 1st  July 2015 by the Institute of Company Secretaries of India. In this regard, ICSI is pleased to inform you that the Responses to the Frequently Asked Qu...
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SEBI seeks clarifications on InterGlobes’s (Indigo Airlines) 2500 crore IPO

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The apex body for regulating the capital market has sought further clarifications from InterGlobe Aviation (Indigo Airlines) on its 2500 crore Initial Public Offer (IPO). As the company has made certain defaults while complying with the disclosure requirements for the initial public offer, SEBI has again asked the company to submit the clarifications w.r.t the IPO. The SEBI is awaiting respo...
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CBDT releases e-filing utility for ITR 3, ITR 4 and ITR 7 for A.Y. 2015-16

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CBDT has finally enabled e-filing utility for ITR 3, ITR-4 and ITR-7 for Assessment Year 2015-16. To download the forms please access the link given below: https://incometaxindiaefiling.gov.in/...
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Government nod not required for 49% Foreign Portfolio Investment in many sectors

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With a view to strengthen the Foreign Investment policy, the Government has allowed 49% Foreign Portfolio Investment in many sectors through Automatic route  in many of the sectors which include pharmaceuticals, single brand retail, insurance, pension etc. which allows the composite foreign investment caps in all the sectors barring private banking and defence sectors. Earlier, these sectors ...
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Sebi eases the Delisting Regulations

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The Securities and Exchange Board of India has made the delisting norms easier by bringing out changes such as the promoters  either will have to ensure that at least 25 per cent of minority shareholders participate in such a process or can demonstrate that the entire 100 per cent investors have been approached to ensure that a good percentage of the minority shareholders participate in the deli...
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Version of Forms Form 20B, Form 23AC, Form 21A, Form 23ACA, Form 66, Form 23ACA (XBRL), Form 4 LLP, Form FC-4, Form 23B, Form FC-1, are modified w.e.f 1st Aug 2015

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MCA has modify the Version of following Forms w.e.f 1st August 2015 Form 20B, (Form for filing annual return by a company having a share capital with the Registrar) Form 23AC, (Form for filing Balance Sheet and other documents with the Registrar) Form 21A,(Particulars of Annual Return for the Company not having share capital) Form 23ACA (Form for filing Profit and Loss acc...
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Government aims to take stringent steps to tap black money

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The government of India is initiating effective steps to deal with black money and will focus on high-impact cases to prosecute the offenders expeditiously against the tax evasion. The effective steps to deal with the black money issue includes putting in place robust and effective legislative mechanism and administrative frameworks with focus on building better and efficient mechanism and syst...
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Govt plans to allow PF subscribers to pledge future PF to pay home loan

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The government is considering the proposal of allowing the subscribers of the Provident Fund to pledge their future stream of provident fund contributions to pay off housing loans. The option for this has been recommended by an expert committee set up by the Retirement Fund Body to achieve the mission of the Modi’s Government to provide housing for all by 2022. The Government is considerin...
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Review of Guidelines on Restructuring of Advances by NBFCs

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RBI/2015-16/144 DNBR.CO.PD.No. 067/03.10.01/2015-16 July 30, 2015 All NBFCs excluding Primary Dealers Dear Sirs, Review of Guidelines on Restructuring of Advances by NBFCs Please refer to the circulars DNBS.CO.PD.No.367/03.10.01/2013-14, dated January 23, 2014 and DNBR.CO.PD.No.011/03.10.01/2014-15 dated January 16, 2015, on the captioned subject. 2. In terms of the extant instructio...
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