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
Now send Notices to Shareholders through Emails instead of Post
Circular No. 1712011; NO1 7/95/2011 CL-V CLR Note: Green Initiative in the Corporate Governance - Now, it becomes easier for the companies to send notices/documents to its shareholders via their E-mail instead of posting; bringing in more flexibility, less time consuming and easier for both, the company and the shareholders. The companies will be be giving time… Read More
Central Registry setup under SARFAESI to prevent frauds
RBI /2010-11/484 DBOD.Leg. No.BC. 86/09.08.011 /2010-11 April 21, 2011 CLR Note: GOI, Ministry of Finance has taken step to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property by setting up the Central Electronic Registry under SARFAESI . Further the transactions relating to securitization and reconstruction of financial assets… Read More
Provisioning Coverage Ratio (PCR) for Advances
RBI/2010-11/485 DBOD.No.BP.BC. 87/21.04.048/2010-11 April 21, 2011 The Chairman and Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Provisioning Coverage Ratio (PCR) for Advances Please refer to the circular DBOD.No.BP.BC.64/21.04.048/2009-10 dated December 1, 2009, in terms of which a Provisioning Coverage Ratio (PCR) of 70 percent of gross NPAs was prescribed,… Read More
Treasure the 25 paise coin – Out of circulation soon
RBI/2010-11/482 RPCD.CO.No RCB. 61/07.38.03/2010-11 April 21, 2011 CLR Notes: Coins of denomination of 25 paise and below will be withdrawn from circulation with effect from 30th June ,2011 and the banks are instructed to exchange before the close of business on the 29th June, 2011. The Chairmen/CEOs of all State and Central Co-operative Banks Dear… Read More
Banks to check for Terrorist links before opening new accounts
RBI/2010-11/483 RPCD.CO.RCB.AML.No.12146/07.02.12/2010-11 April 21, 2011 CLR Note: Banks are required to update the consolidated list of individuals and entities linked to the terrorist group issued by the Ministry of External Affairs , before opening any new account for strict compliance to the order issued by the Government. The Chairmen / CEOs of all State and Central Co-operative Banks Dear… Read More
Anti-dumping duty imposed on imports from Japan and Thailand
CLR Note: India imposed Anti-dumping duty on imports from Japan and Thailand for the period of five years from 9th April 2010 India has imposed anti-dumping duty of up to USD 94.96 per tonne on imports of a chemical used in manufacture of alcohol and rubber, from Japan and Thailand to protect domestic players. The restrictive… Read More
Cibil credit scores on individuals now available to anybody for a fee
Credit scores give banks an estimate of an individual™s ability to repay a loan, since they are based on parameters like the loan amount, the nature of the loan, payment frequency and prior delinquency. Credit Information Bureau (India) Limited (Cibil) research shows 58 per cent of individuals with credit scores of 800 or above were… Read More
Income Tax Department seeks to appoint Ombudsman
D.O. F.No.A-12026/3/2011-Ad.I Dated- 4th April, 2011 CLR Note: Income Tax Department seeks to appoint Ombudsman. The Ombudsman shall have the powers to (a) receive complaints from taxpayers on any matters specified in clause 9; (b) consider such complaints and facilitate their satisfaction or settlement by agreement, throughconciliation and mediation between the Income Tax Department and the… Read More
Service Tax Accounting codes specified for Restaurants and Hotels
Circular No.136/5/2011-TRU CLR Note: Account codes specified for depositing service tax for restaurant having air-conditioning and license to serve alcoholic beverages and Service provided by a hotel, inn, guest house, club. F.No.335/5/2006-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Tax Research Unit New Delhi, 20th April, 2011 To, Chief Commissioners of… Read More
Service Tax not leviable on Visa Facilitation service
Circular No. 137/6/ 2011 ST CLR Note: The circular seeks to clarify that service tax will not be leviable on the service of Visa facilitation. However, if the Visa facilitators provide additional services like recruitment for foreign companies or other value added services, then service tax will be applicable to that extent. F.No.332/11/2010-TRU Government of India… Read More
Simplified Procedure for amalgamation of Government Companies U/s 396
GENERAL CIRCULAR NO. 16/2011 Simplified Procedure for amalgamation of Government Companies U/s 396 of the Companies Act, 1956 CLR Note: MCA has simplified the procedure for amalgamation of government companies resulting into easy exit of the transferor company. F.No. 51/16/2011/CL-III Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr. R.P.… Read More
Quarterly TDS/TCS Statement now made available via SMS by NSDL
Quarterly TDS/TCS Statement now made available via SMS by NSDL NSDL is pleased to announce that henceforth, NSDL will send SMS for each quarterly TDS/TCS statement processed at TIN. You just need to quote correct latest mobile number in the quarterly TDS/TCS statement. Status as below is provided in the SMS: Accepted: This status is… Read More
IT department to review Reality deals to check black money
The income tax department plans to review realty deals following allegations of rampant use of black money in many transactions. "We will take appropriate action wherever we find involvement of black money in such transactions," said Sudhir Chandra , chairman, Central Board of Direct Taxes . Chandra said the department would begin scrutiny of property… Read More
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