Legal Updates - Corporate Law Reporter

Engagement of retired officers and employees purely on contractual assignment for the posts of Assistant Registrars, Deputy Registrars and Court Officers

Application are invited from retired officers, who have worked in various capacities like PPS, Private Secretary, Personal Assistant and Steno in Central/State Government, PSU, any court or Tribunal on contract basis in NCLT as under. To Download complete Memorandum, please click on the link below: Engagement of retired officers and employees purely on contractual assignment… Read More

Empanelment of retired officers as the Inquiry Officers for conducting Departmental Inquires

Ministry of Corporate Affairs proposes to setup a panel of retired officers as Inquiry Officers for Conducting Departmental enquires as per guidelines laid down by the Department of Personnel & Training vide their O.M. No. 142/40/2015-AVD-I dt. 07.01.2016. To Download the complete Circular, please click on the link below: Empanelment of retired officers as the… Read More

Introduction of Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs and Exchange Traded Option contracts on EUR-INR, GBP-INR and JPY-INR currency pairs

CIRCULAR SEBI/HO/MRD/DP/CIR/P/2016/0000000038 March 09, 2016 To, All Stock exchanges and Clearing corporations, All Depositories. Dear Sir / Madam, Subject: Introduction of Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs and Exchange Traded Option contracts on EUR-INR, GBP-INR and JPY-INR currency pairs Reserve Bank of India (RBI) vide A.P. (DIR Series) circular… Read More

Discount known prior to clearance of goods must be deducted from Transaction Value – CESTAT

ACTUAL AMOUNT THAT THE BUYER IS LIABLE TO PAY AT THE TIME OF SALE OR AT ANY OTHER TIME SHALL BE THE TRANSACTION VALUE: CESTAT - MUMBAI A. Brief Facts of the Case: 1.1 In this case, the Appellant are the manufacturer of P & P Medicines falling under sub-heading No. 3003.10 of the… Read More

Review of risk weights assigned to sovereign debt

RBI/2015-16/336 DNBR (PD) CC.No.076/03.10.001/2015-16 March 10, 2016 All Non-Banking Financial Companies (excluding RNBCs) Madam/ Sir, Review of risk weights assigned to sovereign debt In terms of the extant directions, deposit accepting NBFCs, systemically important non-deposit taking NBFCs, all NBFC-MFIs and all NBFC-IFCs shall maintain a minimum capital ratio consisting of Tier I and Tier II… Read More

Alteration in the name of “The Shamrao Vithal Co-operative Bank Limited” to “SVC Co-operative Bank Ltd.” in the second schedule to the RBI Act, 1934

RBI/2015-16/334 DCBR.CO.LS.BC.No.11/07.01.000/2015-16 March 10, 2016 All Banks Dear Sir / Madam Alteration in the name of “The Shamrao Vithal Co-operative Bank Limited” to “SVC Co-operative Bank Ltd.” in the second schedule to the RBI Act, 1934 We advise that the name of “The Shamrao Vithal Co-operative Bank Limited” has been changed to “SVC Co-operative Bank… Read More

Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/DCCBs)

RBI/2015-16/335 DCBR.CO.RCBD.Cir.No. 12/19.51.012/2015-16 Phalguna 20, 1937 March 10, 2016 The Chairman/Managing Director All State and Central Cooperative Banks Dear Sir / Madam, Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/DCCBs) Please refer to the circulars RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007 and RPCD.RCB.BC.73/07.51.012/2013-14 dated January 7, 2014 on the captioned subject.… Read More

Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and members of the board (Amendment) Rules, 2016

The Ministry of Corporate Affairs has issued rules Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and members of the board (Amendment) Rules, 2016. To view the complete rules, please click on the link below: Service and Allowances of the Chairperson and members of the… Read More

Articles Invited for Special Issue of Chartered Secretary on Corporate Governance

Dear Professional Colleagues, The Institute of Company Secretaries of India (ICSI) endeavours to promote good corporate governance and its vision rightly advocates this. The Institute has declared year 2016 as the Mission year for Corporate Governance. The Institute from time to time does research on corporate governance and related matters. In this series, the Institute… Read More

Amendment in FCRA

Amendment in FCRA Section 2 of Foreign Contribution Regulation Act, 2010 is proposed to be amended to facilitate smooth implementation of CSR activities as provided in Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014 by companies which otherwise fall in the category of foreign source. This was stated by the Minister of… Read More

Aadhaar number for grievances complainants

Recently voluntary mentioning of Aadhaar Card Number has been introduced along with other relevant information for the purpose of lodging of Public Grievances on Centralized/Public Grievance Redress and Monitoring System (CPGRAMS) which is an online platform for lodging of Public Grievances. However, it is not mandatory and is purely voluntary for assisting in better resolving… Read More

Standards certification for products and services concerning health, safety, and environment to be made mandatory

Standards certification for products and services concerning health, safety, and environment to be made mandatory New BIS Bill provides compensation to the consumers if the goods and services do not conform to the standards Self-declaration of conformity of the Standards introduced along with stringent penalty provisions for violation for ease of doing business Bureau of… Read More

Empanelment of retired officers as the Inquiry Officers for conducting Departmental Inquiries

The Ministry of Corporate Affairs has issues Empanelment of retired officers as the Inquiry Officers for conducting Departmental Inquiries, To view complete circular, please click on the link below: Empanelment of retired officers as the Inquiry Officers for conducting Departmental Inquiries Read More