CLR Note: The Ministry of Corporate Affairs has requested for extension in filing MGT-7 and AOC-4 dated November 23, 2015 under the Companies Act, 2013.
MCA:2015 November 23, 2015
Shri Tapan Ray
CLR Note: The Reserve Bank of India (RBI) has issued a notification with reference no. RBI/2014-15/246 dated November 26, 2015 for Online Returns to be submitted by NBFCs- Revised
November 26, 2015
All Non Banking Financial Companies
Online Returns to be submitted by NBFCs- Revised
Please refer to our Master Circular...
CLR Note: The Reserve Bank of India (RBI) has issued a notification with reference no. RBI/2015-16/253 dated November 26, 2015 for Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds.
A.P. (DIR Series) Circular No.31
November 26, 2015
All Authorised Persons
Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds
The Highlights of the Draft Memorandum (7th Pay Commission) are mentioned as below:
1. Pay scales are calculated on the basis of pay drawn pay in pay band + GP + 100% DA by employee as on 01-01-2016
2. 7th CPC report should be implemented w.e.f. 01-01-2016
3. Scrap New Pension Scheme and cover all employees under Old Pension and Family Pension Scheme.
4. JCM has proposed minimum wage f...
CLR Note: The Income Tax of India has issued a Press Release dated 20th November, 2015 for Budget announcement- phasing out plan of deductions under the Income Tax Act Regulations.
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 20th November, 2015
Subject: Finance Minister’s Budget announcement- phasing out plan of d...
The director (discipline) of the Institute of Chartered Accountants of India (ICAI), the apex body of chartered accountants, has formed a prima-facie opinion, finding the auditor of the National Spot Exchange (NSEL) guilty of professional misconduct.
The matter has now been taken up by the institute’s disciplinary committee and an enquiry is scheduled next month in respect of the complaint fi...
RBI grants “in-principle” approval to three applicants for setting up Trade Receivables Discounting System (TReDS)
In the Union Budget for 2015-16 the Honourable Union Finance Minister had highlighted the need for and use of TReDS for improving flow of funds to MSME sector by reducing the receivables realisation cycles. TReDS will allow SMEs to post their receivables on the system and get them financed. This will not only give them greater access to finance but will also put greater discipline on corporates to...
RBI grants ‘in-principle’ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
The Reserve Bank of India has today decided to grant ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS.
The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment system in the country with a single brand image provi...
Aimed to reduce lengthy proceedings and time taken in litigation, the Income Tax department has activated a PAN-based online system which enables the taxman to access cases in their jurisdiction on a click, amongst a building database of over 5 lakh appeals and 1.50 lakh judgements.
The new facility is part of the National Judicial Reference System (NJRS), an electronic repository of cases unde...
DIPP releases Press Note No. 12(2015 Series) dated: 24th November, 2015 for FDI policy on various sectors
The Department Of Industrial Policy & Promotion(DIPP) Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2015 (FDI Policy), effective from May 12, 2015, and as amended from time to time.
To view Press Note No. 12(2015 Series) dated: 24th November, 2015, please click below:
Press Note No. 12...