Liberalizing FDI Policy

Government has put in place an investor-friendly policy on FDI, under which FDI, up to 100%, is permitted, under the automatic route, in most sectors/activities. Significant changes have been made in the FDI policy regime in the recent times, to ensure that India remains an attractive investment destination. In a recent review of the policy,… Read More

Tags: CourierFDIforeign direct investmentGovernmentIndiaNatural gasStock exchangeTea

Cabinet Approves Amendment to Rights of Persons with Disabilities Bill 2014

The Cabinet on 6 February, 2014 approved the proposal of the Department of Disability Affairs to incorporate amendments in the proposed Rights of the Persons with Disabilities Bill, 2014, which are:- Definition of person with disability in terms of interaction with barriers also; High support needs person enabled to take independent and inform decision also;… Read More

Tags: Convention on the Rights of Persons with DisabilitiesDisability discrimination actDisability studiesDisabledGovernmentHandicappedLawMinistry of Social Justice and Empowerment (India)

Bhartiya Mahila Bank

Bharatiya Mahila Bank (BMB) as part of its initial expansion plan has requested the Finance Secretaries of 17 State Governments, inter-alia, to consider allotting space for setting up of branches of the bank in State Government buildings or State Corporation buildings at a token lease of Rs.1. BMB has received response only from two States… Read More

Tags: Bharatiya Mahila BankBMBGovernmentIndira GandhiJharkhandManmohan SinghOdishaSonia Gandhi

Incentives to Industries to Boost The Economic Growth

The Ministry has taken a number of measures to boost the industrial growth of the country. These, inter-alia, include announcement of National Manufacturing Policy (NMP), 2011, simplification and rationalization of the Foreign Direct Investment (FDI) Policy, implementation of Delhi Mumbai Industrial Corridor (DMIC) project, conceptualisation of Amritsar Kolkata Industrial Corridor (AKIC), launching of the e-biz… Read More

Tags: Central Bank of NigeriafinanceGovernmentIncentiveIncentive programNigeriaPrivate sectorSmall and medium enterprises

Report by Regional Director (RD) u/s 394A of the Companies Act, 1956- Taking accounts of comments/inputs from Income Tax Department and other sectoral Regulators while filing reports by RD

General Circular No 1/2014, Dated :15th January 2014 Subject: Report u/s 394A of the Companies Act, 1956- Taking accounts of comments/inputs from Income Tax Department and other sectoral Regulators while filing reports by RDs. Section 394A of the Companies Act, 1956 requires service of a notice on the Central Government wherever cases involving arrangement/compromise (under Section 391) or reconstruction / amalgamation (under… Read More

Tags: AmalgamationCentral GovernmentCompanies Act 1956GovernmentGovernment of IndiaIncome taxMergerRD reportRegistrar of CompaniesSection 394

Companies Act 2013 and Draft Rules there under – Commentary on Drafting anomalies, aberrations, contradictions et al – Urgent Need for Review

Introduction The much awaited Companies Act 2013 (hereinafter referred to as The Act) is now a valid piece of legislation having received presidential assent in August last year. The Act is now operational, albeit, partially with 98 provisions having been notified for application effective September 12,2013.The other provisions have been kept in suspended animation awaiting… Read More

Tags: Board of directorsCompanies ActCompanies Act 1956Companies Act 2013CompanyDebentureGovernmentSections

MCA Finalizes Rules for NCLT (Salary of President & Other Members) – to be notified in Official Gazette

The Ministry of Corporate Affairs has finalized some of the Rules leading to the formation of NCLT. The first set of rules will be called the National Company Law Tribunal (Salary, Allowances and other Terms and Conditions of Service of President and other Members) Rules, 2013, will be published in the Official Gazette of India. The… Read More

Tags: AllowancesCompanies ActCorporate Affairs MinistryGovernmentGovernment of IndiaIndiaLokSabhaNational Company Law TribunalNCLTOfficial GazetteOfficial Gazette of IndiaSachin Pilot

Press Statement of the Finance Secretary on VCES

There has been an overwhelming response to the VCES . In the last four days, we have received over 16,000 applications involving Rs. 1500 crores of service tax dues. Upto 29-12-2013 we have received over 40,000 declarations involving over Rs 5500 crores. This would broadly correspond to Rs 55,000 crores of services, which have escaped… Read More

Tags: CommissioneratesFinance ActGovernmentPaymentService ProviderTaxation in IndiaVCESWorking time

MCA Clarification with regard to applicability of section 182(3) of the Companies Act, 2013

Circular No 19/2013 No. 17/27/2013-CL-V Government of India Ministry of Corporate Affairs Shastri Bhawan, 5th Floor, 'A' Wing, Dr. Rajendra Prasad Road, New Delhi 110001 Dated 10.12.2013 To All Registrar of Companies All Regional Director Sub:- Clarification with regard to applicability of section 182(3) of the Companies Act, 2013. Sir, Ministry has received representations seeking clarification… Read More

Tags: AsiaChristmasCompanies ActGift wrappingGovernmentIndiaPartiesPoliticsSection 182(3) of Companies Act 2013

Establishing A National Company Law Tribunal

Detailed Rules and necessary arrangements are under preparation with respect to the establishment of a National Company Law Tribunal (NCLT). Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that the relevant provisions of the Companies Act, 2013 regarding operationalisation of NCLT have… Read More

Tags: AsiaCompanies ActCorporate Affairs MinistryGovernmentIndiaLokSabhaMinister of Corporate AffairsSachin Pilot

MCA Clarification on applicability of Section 185 of Companies Act 2013 and Section 372A of the Companies Act, 1956

CLR Editorial Notes: After some of the Companies Act 2013 Sections were notified, the Ministry of Corporate Affairs received several suggestions and representations regarding the notification of Section 185 of Companies Act 2013 (which deals with loans to Directors - and which corresponds to Section 295 of the Companies Act, 1956). This comes at a… Read More

Tags: Board of directorsCompanies ActCompanies Act 1956Companies Act 2013Company Law BoardCorporate Affairs MinistryGovernmentMCANew DelhiSection 185 of Companies Act 2013

National Identification Authority of India Bill, 2013 to be introduced in the winter session of Parliament

So far, about 47 crore 85 lakh Aadhaars have been issued and the enrollment process is in full swing to meet the target. Enroll for Aadhaar is done at designated centres only and appointment for the same can be obtained online at the following link However, for actual enrollment process, physical presence of the resident is a must. It is also clarified that certain… Read More

Tags: AadhaarGovernmentIndiaNational Identification Authority of IndiaNational Identification Authority of India BillRajya SabhaUIDAIUnique Identification Authority of India

Accrual Of Income – Supreme Court Lays Down Important Law

CLR Editorial Note The question for consideration in this appeals is whether the benefit of an entitlement to make duty free imports of raw materials obtained by the assessee through advance licences and duty entitlement pass book issued against export obligations is income in the year in which the exports are made or in the year in which… Read More

Tags: AppealGovernmentHigh CourtHonIncome taxMorviSupreme CourtThe Honourable

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