eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
A:544, Tower B2, Spaze i-Tech Park Gurgaon, Haryana, India
Bank Finance to Factoring Companies
CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.BP.BC.No.55/21.04.172/2015-16 dated November 26, 2015 for Bank Finance to Factoring Companies. RBI/2015-16/247 DBR.BP.BC.No.55/21.04.172/2015-16 November 26, 2015 All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Bank Finance to Factoring Companies Please refer to our circular DBOD.BP.BC.No.40/21.04.172/2012-13 dated September 11, 2012 on Bank Finance to Factoring Companies, in terms… Read More
Deadline for comments on Corporate Tax Reduction extended by Finance Ministry
In a bid to give stakeholders sufficient time to study the plan, the Finance Ministry has extended the deadline to give comments on the roadmap for corporate tax exemption by over three weeks till December 31. We would like all stakeholders to study and give their views on draft exemption phase-out plan placed in public… Read More
Final Reports on Companies Law Committee will be given by next month
The high powered Companies law committee set up by government to address issues related to Companies act 2013 will give its final report on changes required next month. The eight-member committee that includes members from the industry as well as judiciary was set up earlier this year to recommend changes in Companies Act to improve… Read More
Set up new agency to probe corporate accounting frauds by Government
The government will soon set up a specialised agency to investigate large corporate accounting frauds. It is keen to establish a robust mechanism for faster inquiries into scams . The proposed agency is likely to examine accounting frauds of certain classes of listed companies or those of Rs 500 crore and more. To be formed… Read More
Request for extension in filing MGT-7 and AOC-4 under the Companies Act, 2013
CLR Note: The Ministry of Corporate Affairs has been 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 Secretary to Government of India Ministry of Corporate Affairs Shastri Bhawan New Delhi Dear Sir, Sub: Last date for filing of form MGT-7 (Annual… Read More
Online Returns to be submitted by NBFCs- Revised
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 RBI/2014-15/246 DNBS (PD).CC.No.03/03.02.02/2015-16 November 26, 2015 All Non Banking Financial Companies Dear Sir, Online Returns to be submitted by NBFCs- Revised Please refer to our Master Circular no DNBS.IT.CC.No.01/24.01.191/2015-16 dated July… Read More
RBI Notification – Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds
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. RBI/2015-16/253 A.P. (DIR Series) Circular No.31 November 26, 2015 To All Authorised Persons Madam/ Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds Attention of Authorized Dealer Category-I… Read More
7th Pay Commission – Highlights of the Draft Memorandum
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… Read More
Income Tax Press Release – Finance Minister™s Budget announcement- phasing out plan of deductions
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 Press Release New Delhi, 20th November, 2015 Subject: Finance Minister™s Budget announcement- phasing out… Read More
ICAI director finds National Spot Exchange (NSEL) auditor guilty of improper behaviour
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… Read More
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… Read More
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… Read More
PAN based litigation Management System launched by I-T Department
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… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
