Others - Corporate Law Reporter

Master Circular Corporate Governance

RBI/2014-15/36 DNBS (PD) CC No.390/03.10.001/2014-15 July 1, 2014 To All Non-Banking Financial Companies (NBFCs) Dear Sirs, Master Circular Corporate Governance In order to have all current instructions in one place, the Reserve Bank of India issues updated circulars/notifications on various subjects. It is advised that instructions on the captioned subject as updated till June 30, 2014, have… Read More

Master Circular on Foreign Investment in India

RBI/2014-15/6 Master Circular No. 15/2014-15 July 01, 2014 To, All Category - I Authorised Dealer banks Madam / Sir, Master Circular on Foreign Investment in India Foreign investment in India is governed by sub-section (3) of Section 6 of the Foreign Exchange Management Act, 1999 read withNotification No. FEMA 20/2000-RB dated May 3, 2000, as… Read More

Master Circular on Money Transfer Service Scheme

RBI/2014-15/13 Master Circular No.1/2014-15 July 1, 2014 To All Authorised Persons, who are Indian Agents under the Money Transfer Service Scheme Madam / Sir, Master Circular on Money Transfer Service Scheme Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal… 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

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

BUY BACK OF EQUITY SHARES UNDER THE COMPANIES ACT, 2013

BUY BACK OF EQUITY SHARES Normally the Sections in the Act deals with the compliance part of it and the rules connected to the particular Section lays down procedures for compliance and the Forms for submission. Under the new Companies Act, 2013, we get confused as to which is the Act and which is the… Read More

Special Investigation Team Supreme Court Judgment

RBI/2013-14/663 RPCD.CO.RRB.RCB.BC.No. 113/03.05.33/2013-14 June 26, 2014 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Special Investigation Team Supreme Court Judgment In pursuance of the Hon'ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon'ble… Read More

Good news as the Indian Capital Market leading in a very strong position

S&P BSE Sensex hits record high above 25,000 level and the CNX Nifty above 7,000.The Sensex was up around 1200 points at today's market open and showed an overall positive market.Investors are very much hopeful for all time gains as Bhartiya Janata Party (BJP) sure of having a stable Government at the Central level when… Read More

PRACTICE WITH PASSION AND NOT WITH FEARA NEW MANTRA WHILE FACING CHALLENGES POSED BY COMPANIES ACT, 2013

GOD SAVES THOSE WHO SAVE THEMSELVES is a famous phrase which aptly applies to CS and CA Professionals when they need to face the challenges posed by the Companies Act, 2013 and its voluminous rules and future notifications /clarifications expected to come periodically from the Government. Compounding applications will not be of any use in… Read More

Government to push active e-governance implementation

THE government is finalizing plans to set up departments that will govern the use of Social, Mobile, Analytics, and Cloud (SMAC) technologies as part of its efforts to drive the next phase of e-governance. The information technology (IT) ministry is working with the states and some ministries in the Union government to adopt a set… Read More

Electoral Laws of India

S. K. Mendiratta* India is a sovereign, socialist, secular democratic republic. Democracy is one of the inalienable basic features of the Constitution of India and forms part of its basic structure (Kesavanand Bharati v State of Kerala and Others AIR 1973 SC 1461). The concept of democracy, as visualized by the Constitution, pre-supposes the representation of the… Read More

Implementation Group on OTC Derivatives Market Reforms

In response to the financial crisis that began in 2007, the G-20 initiated a series of reforms designed to strengthen the regulation and oversight of the financial system and tasked the Financial Stability Board (FSB) with coordinating the reforms and assessing their implementation. An important aspect of these reforms is a commitment to enhance the… Read More

Efficient systems and Proficient banks – Keynote address delivered by Shri G Padmanabhan, Executive Director, Reserve Bank of India, at the CIOs Conference held at IDRBT on March 10-11, 2014

Shri Sambamurthy, Dr Ramasastri, Dr Gulshan Rai, CIOs of banks, faculty and staff of IDRBT, ladies and gentlemen. I would like to express my gratitude to the Director for inviting me to deliver the keynote address at the two day Conference for the Chief Information Officers (CIO) of banks. I addressed a similar forum of… Read More