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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Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad
RBI/2014-15/2 Master Circular No. 11/2014-15 July 01, 2014 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… Read More
Compounding of Contraventions Under FEMA, 1999
The compounding of contraventions under Foreign Exchange Management Act (FEMA), 1999 is a voluntary process by which an applicant can seek compounding of a contravention of any provision of FEMA, 1999 under Section 13(1) of the FEMA, 1999. This Circular consolidates the existing instructions on the subject of "Compounding of Contraventions under FEMA, 1999" at one… Read More
Master Circular – Lending to Micro, Small & Medium Enterprises (MSME) Sector
RBI/2014-15/93 RPCD.MSME & NFS.BC.No. 3/06.02.31/2014-15 July 1, 2014 The Chairman/Managing Director/Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir / Madam Master Circular - Lending to Micro, Small & Medium Enterprises (MSME) Sector As you are aware, the Reserve Bank of India has, from time to time, issued a number of… Read More
Master Circular on Establishment of Liaison / Branch / Project Offices in India by Foreign Entities
The Reserve Bank of India has issued Master Circular which consolidates the existing instructions on the subject of Establishment of Branch/Liaison/Project Offices in India by Foreign Entities" at one place dated 1.07.2014. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in the Appendix as provided in the circular. This Master Circular… Read More
Company Secretaries declared as ‘accountant’ under U.P. VAT Act
The Uttar Pradesh government has released the The Uttar Pradesh Value Added Tax (Fifth Amendment) Rules, 2014 on 27.06.2014, thereby including Company Secretaries in the definition of "accountant" specified under the rules. This is a big recognition for the CS professionals to play a vital role in the field of Indirect Taxation (VAT etc.) and… Read More
Sweat Equity under Companies Act, 2013
Sweat equity shares means such equity shares as are issued by a company to its directors or employees at a discount or for consideration, other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called. Employee means (a) a permanent… Read More
Ministry notified Companies (cost record and audit) Rules, 2014
The Ministry of Corporate Affairs has notified and issued the much awaited Companies (cost record and audit), Rules, 2014 dated 30.06.2014 thereby providing clarifications with respect to each and every aspect dealing with provisions of cost auditors and classes of companies requiring cost audit. The rules can be accessed at the link given below. Companies… Read More
Filing of Form DPT-4 (Deposits) deferred till 31st August, 2014
The Ministry of Corporate Affairs has issued a circular no. 27/2014 dated 30th June, 2014, providing clarification with regard to the filing of Form DPT-4 under the provisions of Companies Act, 2013. As required by section 74(1) of the Companies Act, 2013 and the rules made there under, companies are required to file a statement… Read More
Provision for offer or invitation of NCD’s u/s 42 amended
The Ministry of Corporate Affairs has issued Companies (Prospectus and Allotment of Securities) Amendment Rules, 2014 vide notification G.S.R. (E) to insert a proviso after the second proviso to sub-rule (2) of Rule 14 of Companies (Prospectus and Allotment of Securities) Rules, 2014 under the Companies Act, 2013 as the second proviso provided that in the… Read More
Summary of Related Party Transactions under CA 2013
The new Companies Act have enacted with strict compliance in relation to the provisions relating to the related party transactions.The intent of the legislature is to bar the corporates from entering into transactions which are fraudulent under the cover of sister concerns.With newly enacted provisions the transactions with the related parties will be more transparent… Read More
Bonus Issue under Companies Act, 2013
Bonus issue refers to a further issue of shares made by a company having share capital to its existing share holders without receipt of any consideration from the shareholders for issuance of the shares. It is an offer of free additional shares to existing shareholders in proportion to their holdings. For example, the company may… Read More
FIPB to take call on 31 foreign investment proposals next week
The Foreign Investment Promotion Board, headed by finance secretary,Arvind Mayaram, is scheduled to meet up next week to discuss and take a call on many foreign direct investment proposals next week. The top most amongst the agenda is the booming pharmaceutical sector, while India allows direct investment in many segments through automatic route but investments… Read More
Good news as Ministry increases scope to set up Private Companies
The Ministry of Corporate Affairs have set a all new wave for the foreign entities to set up private companies in India by removing the erstwhile concept of Deemed public company.Now, All the India Private Companies shall be treated as private companies even if its foreign holding company is a public company under the laws… Read More
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