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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Loan to Public Companies Under Section 295 of the Companies Act, 1956 Clarification
CLR Note: The circular regarding Loan to Public Limited Companies under Section 295 has been issued by the MCA to avoid unnecessary applications being filed by Companies for approvals even when the Act does not require approval. This circular seeks to clarify the position. Relevant extracts of Section 295 are also reproduced below for cross… Read More
Withholding Tax not required to be deducted by Indian Company for data processing services
Indian firms outsourcing routine work to their overseas subsidiaries would not have to deduct withholding tax on the payments made to them. In a landmark ruling, the Authority of Advance Ruling (AAR) has held that firms are exempted from deducting the withholding tax on the payments made for services like transcription and data processing. Allowing… Read More
Solar PV farms exempted from MoEF clearance
India's ministry of environment and forests (MoEF) has exempted the solar PV farms coming up in the country from having to seek environment clearance. India is in the midst of a massive program to increase its grid-connected solar power generation capacity from around 20 million watts at the end of the 2010 to 20,000 million… Read More
Stakeholders invited for Compliance of provisions of the Companies Act, 1956
F.No. 17/146/2011-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan Dr. R.P. Road, New Delhi-110001 Dated 12.05.2011 To All the Regional Directors, All the Registrar of Companies/ Official Liquidators The Stakeholder Sub: Compliance of provisions of the Companies Act, 1956 and Rules madethereunder. Sir, In order to ensure compliance of the provisions of the Companies… Read More
Self Clearing Member in the Currency Derivatives Segment
CIRCULAR CIR/DNPD/ 4 /2011 May 13, 2011 Recognized Stock Exchanges and their Clearing Corporations / Clearing Houses Dear Sir, Sub: Self Clearing Member in the Currency Derivatives Segment 1. With regard to the newly created category of self clearing member, in the currency derivatives segment of a Stock Exchange, communicated vide notification no. LADNRO/GN/2011-12/01/11486 dated April 6, 2011,… Read More
Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks
RBI/2010-11/526 A.P. (DIR Series) Circular No. 60 May 16 , 2011 To All Authorised Dealer - Category I banks Madam / Sir Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks Attention of the Authorised Dealer Category - I (AD Category - I) banks is… Read More
Enhancement in gratuity limits – Prudential Regulatory Treatment
RBI/2010-11/527 RPCD.CO RRB.BC.No. 70 /03.05.33/2010-11 May 16, 2011 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Enhancement in gratuity limits - Prudential Regulatory Treatment Consequent upon the enhancement in gratuity limits following the amendment to Payment of Gratuity Act 1972, RRBs have approached us for the amortisation of the enhanced expenditure resulting therefrom. 2.… Read More
Rate of Toll Tax revised in Delhi for Commercial Vehicles
The Municipal Corporation of Delhi, which had revised the toll tax for commercial vehicles entering the city recently, today said the new rates will be applicable from tomorrow. The fee chargeable in respect of taxi, tempo, Tata 407 and such type of commercial vehicles will be Rs 45 per visit while it will be Rs… Read More
Global M&A Strategy Conclave-2011 at Leela Kempinski, Mumbai
Global M&A Strategy Conclave-2011 May 26-27, 2011 at Leela kempinski, Mumbai Corporate India™s appetite for inorganic growth has resulted in making the year 2011, one of the best years of M&A activity, through M&A deals valuing $68.3 billion a three fold increase over 2009. A merger or acquisition encounters many risks and challenges and its success… Read More
Rate of 9.5% on Provident Fund notified – Income Tax
NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)] DATED 13-5-2011 In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue)… Read More
Export of Service Rules – Clarification
Applicability of the provisions of the Export of Services Rules, 2005 in certain situations CIRCULAR NO. 141/10/2011-TRU DATED 13-5-2011 Circular No.111/05/2009-ST was issued on 24th February, 2009 on the applicability of the provisions of the Export of Services Rules, 2005 in certain situations. It had clarified on the expression "used outside India" in… Read More
SEBI -CHANGE IN CONDITIONS OF REGISTRATION OF CERTAIN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2011
THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, APRIL 19, 2011 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 13th April, 2011 SECURITIES AND EXCHANGE BOARD OF INDIA (CHANGE IN CONDITIONS OF REGISTRATION OF CERTAIN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2011 No. LAD/NRO/GN/2011-12/03/12650. - In exercise of the powers conferred by section 30 of… Read More
Dealing between Client and Stock Broker – SEBI Clarification
CIRCULAR SEBI/ MIRSD /Cir/ 01/ 2011 May 13, 2011 The Managing Directors/Chief Executive Officers/ Executive Directors/Officiating Executive Directors of all the Recognized Stock Exchanges Dear Sir/Madam, Sub: Clarification on circular dated December 3, 2009 on ˜Dealings between a Client and a Stock broker 1. This is with reference to SEBI circular No. MIRSD/SE/Cir-19/2009 dated December… Read More
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