Legal Updates - Corporate Law Reporter

Concessions to startups regarding Labour Laws

In order to promote the Start-Up ecosystem in the country and incentivizing the entrepreneurs in setting up new start-up ventures and thus catalyze the creation of employment opportunities through them, the Ministry of Labour & Employment has issued an advisory to the States/UTs/Central Labour Enforcement Agencies for a compliance regime based on self-certification and regulating… Read More

Labour Reforms

Reforms in labour laws are an ongoing process to update legislative system to address the need of the hour and to make them more effective and contemporary to the emerging economic and industrial scenario. The Second National Commission on Labour has recommended that the existing Labour Laws should be broadly grouped into four or five… Read More

Guidance Note on the Companies (Auditor’s Report) Order, 2016

The Ministry of Corporate Affairs has issued the Companies (Auditor’s Report) Order, 2016 (CARO 2016) which is applicable for audits of financial statements for periods beginning on or after April 1, 2015. The CARO 2016 contains several new reporting requirements which were not there in the earlier Orders i.e, CARO 2003 and CARO 2015. An… Read More

New Version of Forms INC-1, INC-7, DIR-3, MGT-6, FC-4 available on MCA21

Forms INC-1, INC-7, DIR-3, MGT-6, FC-4 were recently updated on MCA21 Company Forms page. Stakeholders are requested to check the latest version before filing. Read More

Foreign Investment in units by SEBI regulations

RBI/2015-16/377 A.P. (DIR Series) Circular No. 63 April 21, 2016 To All Category – I Authorised Dealer Banks Madam/ Sir, Foreign Investment in units issued by Real Estate Investment Trusts, Infrastructure Investment Trusts and Alternative Investment Funds governed by SEBI regulations Attention of Authorised Dealers Category – I (AD Category - I) banks is invited… Read More

Rate of exchange of conversion of the foreign currency with effect from 22nd April, 2016

In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs (CBEC) No.48/2016-CUSTOMS (N.T.), dated 07th April, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of… Read More

Infrastructure Debt Funds (IDFs)

RBI/2015-16/381 DNBR(PD).CC.No. 079/03.10.001/2015-16 April 21, 2016 All Infrastructure Debt Fund- Non-Banking Financial Companies (IDF-NBFCs) Madam/ Sir, Infrastructure Debt Funds (IDFs) Please refer to the Infrastructure Debt Fund-Non-Banking Financial Companies (Reserve Bank) Directions, 2011 issued vide Notification No.DNBS.233/CGM(US)-2011 dated November 21, 2011 (the Directions) prescribing detailed guidelines on the regulatory framework for NBFCs to sponsor IDFs… Read More

Unsecured Exposure Norms for UCBs – Relaxation

RBI/2015-16/380 DCBR.CO.BPD. (PCB). No.15/13.05.000/2015-16 Vaishakha 01, 1938 April 21, 2016 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir/Madam, Unsecured Exposure Norms for UCBs – Relaxation Please refer to our circulars UBD.BPD. (PCB) Cir No.45/13.05.000/2012-13 dated April 03, 2013 and UBD. CO. BPD. (PCB) Cir. No.29/13.05.000/2013-14 dated October 10, 2013 on the captioned… Read More

Electronic book mechanism for issuance of debt securities on private placement basis

CIRCULAR CIR/IMD/DF1/48/2016 April 21, 2016 To All Recognized Stock Exchanges Issuers intending to issue debt securities Merchant Bankers and brokers registered with SEBI Dear Sir / Madam, Sub: Electronic book mechanism for issuance of debt securities on private placement basis 1. SEBI (Issue and Listing of Debt Securities) Regulations, 2008, govern public issue of debt… Read More

New Version of LLP Forms 3, 4, 8 and 15 available on MCA21

Version of LLP Forms 3, 4, 8 and 15 are likely to be modified w.e.f 24th March 2016. All Stakeholders are requested to plan accordingly Read More

Guidelines on Investment Advisory Services offered by Banks

RBI/2015-16/379 DBR.No.FSD.BC.94/24.01.026/2015-16 April 21, 2016 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Guidelines on Investment Advisory Services offered by Banks Please refer to paragraphs 86, 87 and 88 of the Monetary Policy Statement 2013-14 and the subsequent draft guidelines on Wealth Management/Marketing/Distribution Services offered by Banks issued on June 28, 2013, seeking comments of… Read More

Master Direction – Amalgamation of Private Sector Banks, Directions, 2016

RBI/DBR/2015-16/22 Master Direction DBR.PSBD.No. 96/16.13.100/2015-16 April 21, 2016 Master Direction – Amalgamation of Private Sector Banks, Directions, 2016 In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and pursuant to the Section 44A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is… Read More

Master Direction – Issue and Pricing of shares by Private Sector Banks, Directions, 2016

RBI/DBR/2015-16/21 Master Direction DBR.PSBD.No.95/16.13.100/2015-16 April 21, 2016 Master Direction - Issue and Pricing of shares by Private Sector Banks, Directions, 2016 In exercise of the powers conferred by 35 A of the Banking Regulation Act, 1949 the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to… Read More