Category - Business Law

MCA notifies IEPFA (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 13th October, 2017 G.S.R.  (E).- In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of section 125, sub-section (6) of section 124 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government… Read More

IBBI invites public comments on draft rules of Insolvency Resolution Process for Individuals and Firms by 31.10.2017

Insolvency and Bankruptcy Board of India 9 th October, 2017 INVITATION OF PUBLIC COMMENTS  IBBI invites public comments on: (i) draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations,… Read More

PM addresses Company Secretaries at the inauguration of the golden jubilee year of ICSI

The Prime Minister, Shri Narendra Modi, today addressed Company Secretaries at the inauguration of the Golden Jubilee Year of ICSI – the Institute of Company Secretaries of India. On this occasion, the Prime Minister congratulated all those associated with ICSI. He said he is happy to be among those who are responsible for ensuring that… Read More

Non-banking institution carrying “the business of a peer to peer lending platform” to be a NBFC

RESERVE BANK OF INDIA (Department of Non-Banking Regulation) NOTIFICATION Mumbai, the 24th August, 2017 No. DNBR. 045/CGM (CDS)-2017.—The Reserve Bank of India, on being satisfied that it is necessary to do so, in exercise of the powers conferred on it by sub-clause (iii) of clause (f) of section 45-I of the Reserve Bank of India… Read More

Comparative analysis of existing SS-1 with revised SS-1

COMPARATIVE ANALYSIS Article No. REVISED SS-1 (w.e.f. October 01, 2017) EXISTING SS-1 (w.e.f. July 01, 2015) 1.2.2 A Meeting may be convened at any time and place, on any day. A Meeting may be convened at any time and place, on any day, excluding a National Holiday. 1.2.2 (No such Provision) A Meeting adjourned for want of… Read More

Department of Financial Services advises all Banks to put restrictions on bank accounts of “Struck Off ” Companies

Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies  Government has stepped up decisive action against companies falling within the ambit of Section 248 of the Companies Act. The names of 2,09,032 companies have been struck off from the Register… Read More

MCA designates special court in Bihar for trial of offences with 2 or more years imprisonment

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 31st August, 2017 S.O. 2872(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government, with the concurrence of the Chief Justice of the High Court of Judicature at Patna, hereby designates the following Court… Read More

M&A of banking companies exempted from Section 5 and 6 of Competition Act

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th August, 2017 S.O. 2828(E).—In exercise of the powers conferred by clause (a) of Section 54 of the Competition Act, 2002 (12 of 2003), the Central Government in the public interest hereby exempts, all cases of reconstitution, transfer of the whole or any part thereof and amalgamation… Read More

ICSI releases revised Secretarial Standards 1 and 2

Revised Secretarial Standards  on  Meetings of the Board of Directors (SS-1) and General Meetings (SS-2)  (Revised by the Institute of Company Secretaries of India (ICSI) and approved by the Central Government) Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) were approved by the Central Government under Section 118(10) of the… Read More

Banking Regulation Act authorises RBI to issue directions in respect of insolvency resolution process

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 25th August, 2017/Bhadra 3, 1939 (Saka) The following Act of  Parliament received the assent of the President on the 25th August, 2017, and is hereby published for general information:— THE BANKING REGULATION (AMENDMENT) ACT, 2017 NO. 30 OF 2017 [25th August, 2017.] An Act further… Read More

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