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
Security for External Commercial Borrowings
RBI/2014-15/377 A.P. (DIR Series) Circular No. 55 January 01, 2015 To All Authorised Dealer Category-I Banks Madam/ Sir Security for External Commercial Borrowings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to Paragraphs 1 (A)(vii) and 1 (B) (vi) of Annex to A P (DIR Series) Circular No. 5 dated August 1, 2005and A P… Read More
Obligation of NBFCs under Prevention of Money laundering Act, 2002 – Client Due Diligence measures
RBI/2014-15/383 DNBR(PD).CC.No.009/03.10.42/2014-15 January 2, 2015 All NBFCs Dear Sirs, Know your Customer (KYC) Norms/Anti-Money Laundering (AML) standards/ Combating of Financing of Terrorism (CFT)/ Obligation of NBFCs under Prevention of Money laundering Act (PMLA), 2002 - Client Due Diligence measures Please refer to our Master Circular DNBS(PD) CC.No.387/03.10.42/ 2014-15 July 1, 2014, as per which NBFCs are… Read More
Companies (Cost Records and Audit) Amendment Rules, 2014
The Ministry of Corporate Affairs has issued a notification for the much awaited Companies (Cost Records and Audit) Amendment Rules, 2014 in order to insert and substitute some of the provisions contained in the Companies (Cost Records and Audit) Rules, 2014. The amendments made in the rules are as follows: 1. In Companies (Cost Records… Read More
RBI resets Interest Rate on FRB, 2017
The rate of interest on the Floating Rate Bonds, 2017 (FRB, 2017) applicable for the half-year (January 02, 2015 to July 01, 2015) shall be 8.66 per cent per annum. It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided in the auction held on… Read More
RBI cautions Public against Multi Level Marketing Activities
The Reserve Bank of India has cautioned the public against Multi-level Marketing (MLM) activities so that investors do not fall prey to unscrupulous entities. Explaining the functioning of these entities, the Reserve Bank stated that MLM/Chain Marketing/Pyramid Structure schemes promise easy or quick money upon enrolment of members. Income under such schemes majorly comes from… Read More
Corporate Law Reporter wishes a very Happy New Year 2015
Corporate Law Reporter gladly wishes all its subscribers a very Happy & Prosperous New Year 2015. May this year brings lots of joy and hapiness in the lives of all and keep all healthy & wealthy. Best Wishes Corporate Law Reporter Read More
RBI releases Statistical Tables Relating to Banks in India 2013-14
The Reserve Bank of India yesterday placed on its website 'Statistical Tables Relating to Banks in India 2013-14' an annual publication that provides key information on banks. The volume, 69th in the series published by Reserve Bank of India, is the 94th in the series including the volumes brought out by the then Department of… Read More
Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1988(2011) Taliban Sanctions List
RBI/2014-15/367 DBR.AML.No. 9476/14.06.001/2014-15 December 26, 2014 The Chairpersons / CEOs of all Scheduled Commercial Banks/ Regional Rural Banks /Local Area Banks / All India Financial Institutions Madam/Dear Sir, Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1988(2011) Taliban Sanctions List Please refer to our circulars DBOD. AML. No. 1416 /14.06.001/2013-14 dated July… Read More
RBI imposes penalty on Rajputana Mahila Urban Co-operative Bank Limited, Jaipur
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Rajputana Mahila Urban Co-operative Bank Limited, Jaipur in exercise of powers vested in it under the provisions of Section 47(A) (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies),… Read More
Scope of Secretarial Audit under section 204 of the Companies Act, 2013
Message from the President ICSI on Secretarial Audits Section 204 requires every listed company and a company belonging to other class of companies as may be prescribed to annex with its Board™s report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such… Read More
Deadline for exchanging currency notes printed pre 2005 ends on 1st January, 2015
The deadline for exchanging the pre-2005 notes is January 1, 2015. The Reserve Bank has so far shredded 144.66 crore such notes valued at Rs 52,855 crore since the launch of the drive to take out the pre-2005 notes from the circulation. Post-2005 notes have added security features and help in curbing the… Read More
Government of India announce the sale of Four dated securities on December 26, 2014
The Government of India have announced the sale (re-issue) / new of four dated securities as per the following details: Sr. No. Security Notified Amount (` Crore) Auction Date Settlement date 1 8.08% Government Stock 2022 2,000 December 26, 2014 (Friday) December 29, 2014 (Monday) 2 8.15% Government Stock 2026 6,000 3 9.20% Government Stock… Read More
Money Market Operations as on December 20, 2014
(Amount in ` crore, Rate in per cent) MONEY MARKETS @ Volume Wtd.Avg.Rate Range (One Leg) A. Overnight Segment (I+II+III+IV) 7,016.60 7.87 5.00-8.50 I. Call Money 393.50 6.37 5.00-8.00 II. CBLO 6,623.10 7.96 6.30-8.50 III. Market Repo 0.00 - IV. Repo in Corporate Bond 0.00 - B. Term Segment I. Notice Money** 48.00 7.05 7.00-7.25… Read More
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