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.
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Goods and Services Tax (GST) rate of 20-24% suggested by CEA-led panel
Reports of Goods and Services Tax (GST), the revenue neutral rate being suggested by the panel could be in the range of 20-24% and the panel was originally supposed to give its report around September. Earlier there were delays because wide-ranging inputs and suggestions were required. The panel will present suggestions for what is known as a… Read More
Seventh pay commission uphold overall hike of 23.55%
The Seventh Pay Commission has handed a financial bonanza to Central government employees and sent a strong message to dismantle the present hierarchy that is heavily loaded on the side of seniority over performance. Civil servants today need to be focused on outcomes, not processes, and have to be more accountable for delivery. They have… Read More
Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015
CLR Note: The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.PSBD.No.56/16.13.100/2015-16 dated November 19, 2015 for Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015. The notification can be accessed as below: **** RBI/2015-16/240 Master Direction No.DBR.PSBD.No.56/16.13.100/2015-16 November 19, 2015 Prior Approval for acquisition of shares… Read More
Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms. The notification can be accessed as below: **** RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam… Read More
Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Non-Operative Financial Holding Company (NOFHC) Application of Capital Adequacy Norms. The notification can be accessed as below: **** RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam… Read More
Provision of Factoring Services by Banks – Review
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.No.BP.BC.57/21.06.201/2015-16 dated November 19, 2015 for Provision of Factoring Services by Banks - Review. The notification can be accessed as below: RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Non-Operative… Read More
The Companies (Management and Administration) Third Amendment Rules, 2015
CLR Note: The Ministry of Corporate Affairs has issued a rule dated November 16, 2015 in reference with The Companies (Management and Administration) Third Amendment Rules, 2015. The notification is as below: Government of India Ministry of Corporate Affairs Notification New Delhi, 16.11.2015 G.S.R. (E),-In exercise of the powers conferred under sub-sections (2) and (3) of section 92 read with… Read More
PAN card gets costlier by Re 1: Swachh Bharat cess (SBC)
Issuing a new Permanent Account Number (PAN) for income tax has been costlier by Rs. 1 and PAN card for income tax has become costlier by a rupee to Rs 107 instead of Rs 106 under revised changes and outside India will cost an individual or entity a total of Rs 989, four rupees more than the… Read More
To Gain in SMEs Government tweaks Procurement Norms
Central government ministries and public sector undertakings (PSUs) would now be required to procure at least 20 per cent of their annual value of goods or services from SMEs, with the government tweaking provisions of the procurement policy. Under this, every central government ministries, departments and public sector undertakings has to procure a minimum 20… Read More
Investor Grievance Redressal System and Arbitration Mechanism
CLR Note:The Securities and Exchange Board of India(SEBI) has issued a circular CIR/CDMRD/DIECE/02/2015 dated November 16, 2015 for Investor Grievance Redressal System and Arbitration Mechanism. CIRCULAR CIR/CDMRD/DIECE/02/2015 November 16, 2015 To The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir/Madam, Sub: Investor Grievance Redressal System and Arbitration Mechanism 1. Pursuant to Section 131 of the… Read More
Annual System Audit, Business Continuity Plan(BCP) and Disaster Recovery (DR)
CLR Note: The Securities and Exchange Board of India(SEBI) has issued a circular CIR/CDMRD/DEICE/01/2015 dated November 16, 2015 for Annual System Audit, Business Continuity Plan(BCP) and Disaster Recovery (DR) CIRCULAR CIR/CDMRD/DEICE/01/2015 November 16, 2015 To The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir/Madam, Sub: Annual System Audit, Business Continuity Plan(BCP) and Disaster Recovery (DR) 1.… Read More
Making amendment to The Customs, Central Excise Duties and Service Tax Drawback Rules 1995
CLR Note- The principal rules were published vide notification number 39/1995-Customs (N.T.), dated 26th May, 1995, in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 441 (E), dated the 26th May, 1995, and was last amended by notification number 20/2015-Custom (N.T.), dated the 10th February, 2015 vide number G.S.R. 81 (E), dated the 10th February,… Read More
Notifying All Industry Rates (AIR) of Duty Drawback w.e.f. 23.11.2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 16th November, 2015 Notification No. 110/2015 - CUSTOMS (N.T.) G.S.R. (E).- In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962), sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944),… Read More
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