Legal Updates - Corporate Law Reporter

Highlights of Railway Budget for 2016-17

Following are highlights of the Railway Budget for 2016-17 (Apr-Mar), presented by Railway Minister Suresh Prabhu in Parliament today: GENERAL * Budget reflects aspirations of the entire railway family * Rail Budget reflects aspiration of all * Core objective is to improve individual experience * Rail Budget is the vision of PM Modi * Making… Read More

Start- up, Stand up initiative of the Hon’ble Prime Minister’

Dear Student, PRESIDENT, ICSI INVOKES ‘LET COMPANY SECRETARY BE PARTNERING START- UP, STAND UP INITIATIVE OF THE HON’BLE PRIME MINISTER’ Hon’ble Prime Minister Narendra Modiji's esteemed visit to the Pavilions just after the inauguration ceremony at the 'MAKE IN INDIA' week at Mumbai. Seen with HIS honoured gracious self outside the Ministry of Corporate Affairs Pavilion… Read More

SEBI amended Issue of Capital and Disclosure Requirements, Regulations 2009

SEBI has notified a new set of norms to provide an exit route to the dissenting shareholders in case a listed company diverts from its stated objective of raising funds from the public. The SEBI has amended SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and prescribed the conditions and manner of providing Exit Opportunity to dissenting… Read More

Highlights of Taxation

CBDT has issued Clarification for implementation of FATCA and CRS. An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). Based on comments and… Read More

Threshold for monitoring of frauds in NBFCs (All Deposit taking NBFCs, including RNBCs and NBFCs- ND-SI)

RBI has decided to revise the threshold for monitoring of frauds in NBFCs (All Deposit taking NBFCs, including RNBCs and NBFCs- ND-SI). The threshold for reporting frauds and submission of quarterly progress reports on frauds to Central Fraud Monitoring Cell, Reserve Bank of India, Department of Banking Supervision, has been revised from Rs. 25 lakh as on date to… Read More

Report of the Expert Committee on Prior Permissions & Regulatory Mechanism

The Department Of Industrial Policy & Promotion has issued a Report of the Expert Committee on Prior Permissions & Regulatory Mechanism, to download the complete report, please click on the following link: Report of the Expert Committee on Prior Permissions & Regulatory Mechanism Read More

MCA issues a notice for inviting comments on the Draft Companies (Cost Records and Audit) Amendment Rules 2016

Ministry of Corporate Affairs issued a notice inviting comments on the Draft Companies (Cost Records and Audit) Amendment Rules 2016 on 23rd February, 2016. The draft Companies (Cost Records and Audit) Amendment Rules, 2016 has been placed on the Ministry’s website for suggestions/comments along with justification in brief which may be sent latest by 08th March, 2016 through email at cra@mca.gov.in.… Read More

SEBI Circular on Mutual Funds

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2016/37 February 25, 2016 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds/ Association of Mutual Funds in India (AMFI) Sir/ Madam, Subject: Circular on Mutual Funds A. Treatment of unclaimed redemption and dividend amounts Please refer to SEBI circular dated November 24, 2000 on treatment of unclaimed redemption and… Read More

MCA Notices

Kindly note that a new LLP Front Office Service ‘Enter Form 3 or Form 3 & 4 details for LLP filing’ has been introduced. This service will enable users to insert relevant details of Form 3 or Form 3 & Form 4 (both) in case corresponding Form 3 & Form 4 (both) are pending for… Read More

Notification No. 7/2016 [F.No.173/394/2015-ITA-I] / SO 529(E) by sub-section (1) of section 80CCD of the Income-tax Act, 1961 (43 of 1961)

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th February, 2016 Income-tax S. O. 529(E).— In exercise of the powers conferred by sub-section (1) of section 80CCD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the ‘Atal Pension Yojana (APY)’ as published in… Read More

Bids Finalized for setting up two Loco Factories under ‘Make in India’ initiative

The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that in keeping with Prime Minister’s emphasis on ‘Make in India’, the Indian Railways was able to finalise the bids for setting up two loco factories with an order book of about Rs. 40,000 crore. He said, the bidding process was absolutely transparent and the… Read More

Railway Exploring Multilateral Financial Investment Partnership with State Governments for Redevelopment of Stations

Railway Exploring Multilateral Financial Investment Partnership with State Governments for Redevelopment of Stations National Academy of Indian Railways at Vadodara to be upgraded as Rail University Presenting Railway Budget 2016-17 in Parliament today, the Minister of Railways Shri Suresh Prabhakar Prabhu said that Redevelopment of stations using different models is being experimented. Based on one… Read More

Inviting Suggestions on the drafted Background Material of Certificate Course on Derivatives

Committee on Financial Markets and Investors’ Protection of ICAI is conducting Certificate course on Derivatives from the year 2009. Derivatives market has seen a phenomenal growth over the last three decades. The use of derivatives—a broad term referring to such diverse instruments as futures, swaps, and options—has become increasingly popular in recent years as corporations… Read More