Legal Updates - Corporate Law Reporter

Notification on Income Computation and Disclosure Standards (ICDS) 29 September 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th September, 2016 INCOME-TAX S.O. 3080(E).— In exercise of the powers conferred by section 44AB, read with section 295 of the Income-tax Act,… Read More

Investments by FPIs in Government securities

CIRCULAR IMD/FPIC/CIR/P/2016/107 October 03, 2016 To All Foreign Portfolio Investors through their designated Custodians of Securities The Depositories (NSDL and CDSL) Sir / Madam, Sub: Investments by FPIs in Government securities 1. RBI in its Fourth Bi-monthly Policy Statement for the year 2015-16, dated September 29, 2015 had announced a Medium Term Framework (MTF) for… Read More

National Advisory Committee on Accounting Standards

The Ministry of Corporate Affairs has issued Notification No.S.O.(E) dated 03.10.2016 regarding National Advisory Committee on Accounting Standards. The notification states that in exercise of the powers conferred by sub-section (1) at section 2l0A of the Companies Act, 1956, (1 of 1956), the Central Government hereby constitutes an Advisory Committee to be called the National Advisory Committee on Accounting Standards,… Read More

Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, Northern Region

The Ministry of Corporate Affairs has issued Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, please click on the below link to download : Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, Northern Region Read More

MCA takes another Initiative in Government Process Re-engineering (GPR)

MCA takes another Initiative in Government Process Re-engineering (GPR) The Ministry of Corporate Affairs has taken another bold initiative in Government Process Re-engineering (GPR) and launched Simplified Proforma for Incorporating Company Electronically (SPICe) e-Form, on the occasion of Gandhi Jayanthi 2016, with the specific objective of providing speedy incorporation related services within stipulated time frames… Read More

Companies (Incorporation) fourth Amendment Rules, 2016

The Ministry of Corporate Affairs has issued notification Companies (lncorporation) fourth Amendment Rules, 2016 dated 1st October, 2016. Click here to download Companies (Incorporation) fourth Amendment Rules, 2016 Read More

Constitution of Expert Group to look into issues related to Audit firms

The Ministry of Corporate Affairs has issued order Constitution of Expert Group to look into issues related to Audit firms dated 30th September, 2016. Click here to download the order Read More

MCA mandate Filing Form 3 within 30 days of incorporation

Filing Form 3 within 30 days of incorporation is mandatory. Stakeholders are advised to ensure that Form 3 (Information with regard to Limited Liability Partnership agreement and changes, if any, made therein) has been mandatorily filed for initial agreement before filing of Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return of… Read More

Revised integrated incorporation form for companies notified vide the Companies (Incorporation) fourth Amendment Rules, 2016 dated 01-10-2016

Revised integrated incorporation form for companies notified vide the Companies (Incorporation) fourth Amendment Rules, 2016 dated 1st October 2016 viz. “Simplified Proforma for Incorporating Companies Electronically (SPICe-INC 32)” along with electronic MoA (SPICe MoA-INC 33) and electronic AoA(SPICe AoA-INC 34) are available for filing purposes. Before filing these forms, stakeholders may get themselves familiarized by… Read More

Aadhaar-based Authentication for Card Present Transactions

RBI/2016-17/70 DPSS.CO.PD No.892/02.14.003/2016-17 September 29, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks / White Label ATM Operators / Payments Banks / Small Finance Banks Dear Madam / Sir, Aadhaar-based… Read More

Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016

RBI/DNBS/2016-17/47 Master Direction DNBS.PPD.02/66.15.001/2016-17 September 29, 2016 NOTIFICATION Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016 In exercise of the powers conferred by sections 45 JA, 45K, 45L and 45M of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), and of all the powers enabling it in… Read More

Master Direction – Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016

RBI/DNBS/2016-17/48 Master Direction DNBS. PPD.03/66.15.001/2016-17 September 29, 2016 Master Direction - Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016 In exercise of the powers conferred by sub-section (1A) of Section 45MA of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and of all the powers enabling it in this behalf, and… Read More

Master Direction – Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016

RBI/DNBS/2016-17/49 Master Direction DNBS. PPD.01/66.15.001/2016-17 September 29, 2016 NOTIFICATION Master Direction - Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016. In exercise of the powers conferred by sections 45K, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934), and of all the powers enabling it in this behalf,… Read More