Subsidiary

Clarification with regard to Section 185 of the Companies Act, 2013

General Circular No 03/2014 No.01/12/2013-CL.V Government of India Ministry of Corporate Affairs 5th Floor,™ A' Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi-110001. Dated: 14/2/2014 To All Regional Directors, All Registrar of companies, All Stakeholders. Subject: Clarification with regard to Section 185 of the Companies Act, 2013. Sir, 1. This Ministry has received number of… Read More

Tags: Companies ActCompanies Act 1956Holding companyLoanNew DelhiRegistrar of CompaniesSection 372A of the Companies ActSubsidiary

RBI releases Framework for setting up of Wholly Owned Subsidiaries by Foreign Banks in India

The Reserve Bank of India (RBI) today released on its website, the framework for setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India. The policy is released in pursuance of the announcement made in the Second Quarter Review of Monetary Policy 2013-14 (para 26 - See below). The policy is guided by the… Read More

Tags: Banking in Indiaforeign direct investmentIndiaReserve BankReserve Bank of IndiaRun batted inSubsidiaryWOS

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013 The Ministry of Corporate Affairs has notified  12th Septmber, 2013 as effective date for 98 sections of the Companies Act, 2013 (hereinafter referred as ˜the Act™)  vide its notification dated 12th September, 2013.  Certain important provisions (which have become effective) are briefly… Read More

Tags: Companies ActCompanySecretaryCorporate Affairs MinistryFinancial servicesFixed DepositIncome taxPrivately held companyPublic companySubsidiary

Commencement Notification CA2013 :: Section 194 :: Prohibition on forward dealings in securities of company by a key managerial personnel

Chapter XII -Meetings of Board and its Powers (173 - 195) Section 194- Prohibition on forward dealings in securities of company by a key managerial personnel (1) No director of a company or any of its key managerial personnel shall buy in the company, or in its holding, subsidiary or associate company” (a) a right… Read More

Tags: Board of directorsChief financial officerDebentureFeedBurnerManagementSecurity (finance)SharesSubsidiary

Commencement Notification CA2013 :: Section 192 :: Restriction on non-cash transactions involving directors.

Chapter XII -Meetings of Board and its Powers (173 - 195) Section 192- Restriction on non-cash transactions involving directors (1) No company shall enter into an arrangement by which ” (a) a director of the company or its holding, subsidiary or associate company or a person connected with him acquires or is to acquire assets… Read More

Tags: Annual General MeetingBoard of directorsCompanies ActDebentureFeedBurnerHolding companySecurity (finance)SharesSite of Special Scientific InterestSubsidiary

Commencement Notification CA2013 :: Notified Sections 19,20,21

Commencement Notification Of Companies Act 2013 :: 98 Sections Notified Chapter II -Incorporation of Company and Matters Incidental Thereto (Sections 3 - 22) Notified Section 19- Subsidiary company not to hold shares in its holding company (1) No company shall, either by itself or through its nominees, hold any shares in its holding company and no… Read More

Tags: BoardBusinessCompanies ActCorporate lawHolding companyIndiaNotification Of Companies Act 2013Subsidiary

CLR Flash :: Commencement Notification Of Companies Act 2013 :: 98 Sections Notified

The Ministry of Corporate Affairs, has notified 98 sections of the Companies Act 2013  (18 of 2013) by way of a notification dated 12th September 2013. All these sections will now come into immediate effect from 12th September 2013. The professional must now read both the Companies Act viz. 1956 and 2013 together, in order to… Read More

Tags: 12th September 2013Central GovernmentChapter VII of the United Nations CharterCompanies ActCompanies Act 2013Corporate Affairs MinistryCorporate lawGovernment of IndiaLegal liabilityPublic OfferRed herring prospectusSeptember 2013Shelf registrationSubsidiary

RBI Amendment w.r.t. Overseas Direct Investment

RBI/2013-14/241 A.P. (DIR Series) Circular No. 41 September 10, 2013 To All Category - I Authorised Dealer Banks Madam/ Sir, Overseas Direct Investment Amendment Attention of the Authorised Dealer (AD - Category I) banks is invited to para 2(iv)(b) of A. P. (DIR Series) Circular No. 69 dated May 27, 2011 on Overseas Direct Investment Liberalization /… Read More

Tags: Anno DominiCategories of New Testament manuscriptsForeign Exchange Management ActGeneral managerIndiaIndian PartyReserve Bank of IndiaSubsidiary

Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fifth Amendment) Regulations, 2013

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION NO. 283/2013-RB Mumbai, the 14th August, 2013 Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fifth Amendment) Regulations, 2013 G.S.R. 552(E).”In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and subsection (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42… Read More

Tags: External Commercial BorrowingFederal Emergency Management AgencyForeign Exchange Management ActIndiaIndianReserve BankReserve Bank of IndiaSubsidiary

Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000

RBI/2013-14/181 A. P. (DIR Series) Circular No.24 August 14, 2013 To All Category-I Authorised Dealer Banks Madam / Sir, Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000 Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the guidelines regarding the Liberalised Remittance… Read More

Tags: Anno DominiApril-MarchCategories of New Testament manuscriptsForeign Exchange Management ActIndiaJoint ventureSubsidiaryUSD

Survey on Foreign Collaboration in Indian Industry: 2007- 2010

The Reserve Bank of India today released, on its website, the data related to the results of the Survey on Foreign Collaboration in Indian Industry: 2007-2010. The survey captures comprehensive information relating to the nature, pattern, and operations of Indian companies having technical collaboration with foreign companies valid during the period April 2007 to March 2010 or part… Read More

Tags: Exportforeign direct investmentIndiaJapanList of companies of IndiaReserve Bank of IndiaSubsidiaryUnited States

Master Circular on Direct Investment by Residents in Joint Venture (JV) /Wholly Owned Subsidiary (WOS) Abroad

RBI/2013-14/11 Master Circular No.11/2013-14 July 01, 2013 To, All Authorised Dealer Category - I banks Madam / Sir, Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad are being allowed, in terms of… Read More

Tags: BusinessEspooForeign Exchange Management ActJoint ventureMaster Circulars 1st July 2013NokiaNokia Siemens NetworkSiemensSubsidiary

Definition of Related Party – A Comparative Analysis

Related party relationships are a normal feature of commerce and business. For example, entities frequently carry on parts of their activities through subsidiaries, joint ventures and associates. In those circumstances, the entity has the ability to affect the financial and operating policies of the investee through the presence of control, joint control or significant influence.… Read More

Tags: Board of directorsBusinessCompanies Act 1956Hindu Undivided FamilyIncome Tax ActIncome Tax Act 1961IndiaJoint ventureSubsidiarytransfer pricing

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