Legal Updates - Corporate Law Reporter

Issue of revised guidelines for stay of demand at the first appeal stage

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd March, 2016 Subject: Issue of revised guidelines for stay of demand at the first appeal stage - regarding With a view to streamline the process of grant of stay of demand when the case of the… Read More

Employee Aggrieved By his Termination can move The Labour Court Where he had been employed or where the Company Headquarters Is Located: SC

A. Brief Facts of the Case: A.1 In this case, a supervisor (hereinafter referred to as the "Appellant") was employed in the Puducherry Unit by the Respondent Company (hereinafter referred to as the "Respondent") having its Registered Office in Aurangabad. The Puducherry Unit was closed and there was dispute over termination… Read More

Competition Commission of India (CCI) organizes first national conference on Economics of competition law

Shri Jayant Sinha, MoS (Finance): Present Government is pursuing a pro-poor economic policy, in which the importance of well-functioning markets cannot be over-emphasised; Competition Commission of India (CCI) organizes first national conference on Economics of competition law Shri Jayant Sinha, Minister of State for Finance said that the present Government is pursuing a pro-poor economic… Read More

Civil Aviation Minister says Budget 2016-17 has paved the way for developing India the MRO hub of Asia

Civil Aviation Minister says Budget 2016-17 has paved the way for developing India the MRO hub of Asia. The Minister of Civil Aviation Shri P Ashok Gajapathi Raju has said that the Budget 2016-17 has paved the way for developing India as a Maintenance, Repair and Overhauling (MRO) hub of Asia. Speaking to media persons … Read More

Exchange Rate of Foreign Currency relating To Imported and Export Goods notified

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 No.29/2016-CUSTOMS (N.T.), dated 18th February, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of Excise… Read More

Master Circular – Basel III Capital Regulations – Revision

RBI/2015-16/331 DBR.No.BP.BC.83/21.06.201/2015-16 March 1, 2016 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Master Circular – Basel III Capital Regulations - Revision Please refer to Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on ‘Basel III Capital Regulations’. The treatment of certain balance sheet items, as per the extant… Read More

CBEC amendment in Notification No. 230/86-Customs, dated the 03.04.1986 so as to make suitable amendments to the Project Import Regulations, 1986.

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 20/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E).- In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central… Read More

CBEC amends in Notification No. 42/96-Customs, dated the 23.07.1996 so as to make suitable amendments to the list of specified projects under heading 9801 of the first schedule to the Customs Tariff

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 21/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-item (6) of heading No. 98.01 of the First Schedule to the… Read More

CBEC amends Notification No. 81/2005-Customs, dated the 08.09.2005 so as to carry out Budgetary changes

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E). In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962(52 of 1962), the… Read More

CBEC amended Notification No. 72/1994-Customs, dated the 01.03.1994.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.23/2016 –Customs New Delhi, dated the 1 st of March, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962… Read More

MCA issues Notice for Inviting comments on the draft rules w.r.t. Revival and rehabilitation of sick companies related provisions under the companies act, 2013

GOVERNMENT OF INDIA Ministry of Corporate Affairs NOTICE INVITING COMMENTS ON THE DRAFT RULES W.R.T. REVIVAL AND REHABILITATION OF SICK COMPANIES RELATED PROVISIONS UNDER THE COMPANIES ACT, 2013 Dated the 02nd March, 2016 National Company Law Tribunal (NCLT) and its Appellate Authority is at an advanced stage of constitution. After its constitution, it is proposed… Read More

Frequently Asked Questions on SEBI (Share Based Employee Benefits) Regulations, 2014

FREQUENTLY ASKED QUESTIONS ON SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 1. In terms of proviso to regulation 3(12) of the SEBI (Share Based Employee Benefits) Regulations, 2014, the un-appropriated inventory of shares which is not backed by grants but has been acquired through secondary acquisition by the Trust has to be sold on the… Read More

Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016

RBI/DBR/2015-16/19 Master Direction DBR. Dir. No.84/13.03.00/2015-16 March 03, 2016 Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 In exercise of the powers conferred by conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient… Read More