Category - Business Law

ICSI withdraws Secretarial Standards- 1& 2 w.e.f 30th September, 2017

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA (Statutory Body under an Act of Parliament) NOTIFICATION New Delhi, the 16th August, 2017 F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the… Read More

Dr. (Ms.) Mamta Suri takes charge as Executive Director, Insolvency and Bankruptcy Board of India

Dr. (Ms.) Mamta Suri takes charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI).  Dr. (Ms.) Mamta Suri took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi today. Before joining IBBI, Dr. Suri was serving as Chief General Manager, Insurance Regulatory Development Authority of India. Dr. Suri… Read More

IBBI amends Insolvency Resolution Process for Corporate Persons Regulation, 2016

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 16th August, 2017 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) (AMENDMENT) REGULATIONS, 2017 No. IBBI/2017-18/GN/REG013.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016,… Read More

Govt. exempts Regional Rural Banks from M&A purview under Competition Act

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 10th August, 2017 S.O. 2561(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 public interest, hereby exempts the Regional Rural Banks in respect of which the Central Government has issued a notification… Read More

IRDAI modifies Guidelines on Point of Sales- Life Insurance Products

Insurance Regulatory and Development and Authority of  India  Ref: IRDAI/LIFE/CIR/MISC/POS/185/08/2017 August 4, 2017 To All the Life Insurers, Re:  Modification to Guidelines on Point of Sales (POS)- Life Insurance Products Reference is invited to - Section 2 (i) - ' Categories of POS products', Wherein the description of categories of POS Products is provided and… Read More

9 reasons why you should set-up a Compliance Framework for your organisation

Dear Professional Colleague: I am sure that you will agree with me that the Compliance environment in India seems to suddenly have caught momentum. Many old laws are being repealed to give way to the new age laws like Companies Act, 2013 (CA2013), Prevention of Sexual Harassment of Women at Workplace Act, Maternity Benefit (Amendment)… Read More

Tags: ComplianceCompliance FrameworkCompliance ManagementRegulatory compliance

JLF or IBC? – Can a single dissenting lender derail the process adopted by other lenders under extant JLF Guidelines?

Reserve Bank of India (“RBI”) and Government of India (“GoI”) have been relentlessly showing their willingness to resolve the near about 6 Lakh Crores worth of Non Performing Assets in the country. Manifesting such willingness, GoI has passed the Banking Regulation (Amendment) Ordinance, 2017 to equip RBI to direct insolvency resolution of specific companies to… Read More

Voluntary Winding up under Insolvency Bankruptcy Code

The Insolvency and Bankruptcy Board of India (“IBBI”) vide its notification dated 31 March 2017 has issued the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (“the Regulation”) and shall come into force on 1 April 2017. These regulations apply to the voluntary liquidation of Corporate persons under Section 59 of Chapter V… Read More

IBBI [FAST TRACK INSOLVENCY PROCESS OF CORPORATE PERSON (CHAPTER IV OF PART II OF THE CODE)]

SECTION 55 -58 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, READ WITH (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 CHAPTER II, PART II OF THIS CODE (Procedural Manner) CHAPTER VII, PART II OF THIS CODE (Offences & penalties) ________________________________________________________________________________ Note: The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency… Read More

IBBI invites comments on the regulations notified Insolvency Code

PRESS RELEASE 4 th July, 2017 Insolvency and Bankruptcy Board of India invites comments from public on the regulations notified under the Insolvency and Bankruptcy Code, 2016. The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section 240 of the Code empowers the Insolvency and Bankruptcy Board of India (IBBI) to make… Read More

MOS (Finance & Corporate Affairs) releases a Compendium of CSR: Best Practices in India

The Union Minister of State (Finance & Corporate Affairs) Shri Arjun Ram Meghwal: India has had a long history of social responsibility; Underlined the need for introducing innovations to be able to effectively contribute to social development and nation building through CSR projects.    The Union Minister of State for Finance and Corporate Affairs, Shri Arjun Ram… Read More

MoS to release a Compendium of Best Practices of CSR tomorrow

The Minister of State of Finance and Corporate Affairs Shri Arjun Ram Meghwal to release a Compendium of CSR : Best Practices in India tomorrow; Compendium to highlight and motivate the best CSR practices of Corporate contributed under CSR projects towards nation building efforts for sustainable development. The Minister of State of Corporate Affairs and… Read More

CCI exempts enterprises entering into combination for 5 years

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 29th June, 2017 S.O. 2039(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 public interest, hereby exempts every person or enterprise who is a party to a combination as referred to in… Read More

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