Legal Updates - Corporate Law Reporter

Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS)

RBI/2015-16/324 DNBR (PD) CC.No. 073/03.10.001/2015-16 February 18, 2016 All Non-Banking Financial Companies Madam/ Sir, Undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System (NPS) The Reserve Bank of India (the Bank) has received proposals from Non- Banking Financial Companies (NBFCs), seeking approval for undertaking of Point of Presence… Read More

Seeks to amend Notification No. 25/2012 by inserting new entry for granting exemption from service tax for the services provided by Government or a local authority to a business entity having turnover upto rupees of ten lakh in the preceding financial year

[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) NEW DELHI New Delhi, the 18th February, 2016 NOTIFICATION NO. 07/2016-Service Tax GSR.(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32… Read More

Seeks to appoint 1th day of April, 2016 as the date with effect from which the provisions of Section 109(1) as contained in the Finance Act, 2015 shall come into effect

[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) New Delhi, the 18th February, 2016 Notification No. 06/2016-Service Tax G.S.R.___ (E). - In exercise of the powers conferred by section 109 of the Finance Act, 2015 (No. 20 of 2015), the Central… Read More

Easy way to understand CARO, 2016

CARO 2016 Read More

NBFC – Factors (Reserve Bank) Directions, 2012 – Review

RBI/2015-16/326 DNBR.CC.PD.No.074/03.10.01/2015-16 February 18, 2016 To All Non-Banking Financial Companies (NBFCs) – Factors. NBFC – Factors (Reserve Bank) Directions, 2012 – Review The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring activities. To ensure against regulatory gaps/… Read More

Analysis of Inventory to be valued at Cost or NRV / Cost And NRV

Analysis of Inventory to be valued at Cost or NRV / Cost And NRV As per Para 5 of AS-2 and Para -9 of Ind AS “Inventories shall be measured at lower of Cost and Net realizable value. But Few of the companies had also used Cost or NRV whichever is lower in its Notes… Read More

Guidelines on Product Filing Procedures for General Insurance Products

Insurance Regulatory and Development Authority of India 3rd Floor, Parishrama Bhavan, Bashers Bagh, HYDERABAD 500 004. IRDAI/NL/GDL/F&U/030/02/2016 18th February, 2016 To The Chairman-Cum- Managing Directors/Chief Executive officers of General Insurance Companies. Madam/Sir, Guidelines on Product Filing Procedures for General Insurance Products The guidelines on product filing procedures for general insurance products are issued considering the actual… Read More

Competition Commission of India – 6th Annual Day Press Release

COMPETITION COMMISSION OF INDIA PRESS RELEASE Competition Commission of India (‘the Commission’) today celebrated its 6 thAnnual Day which marks the notification of the substantive provisions of the Competition Act, 2002. On the occasion, Shri Ashok Chawla, the Chairperson, Competition Commission of India in his welcome address highlighted the various achievements of the Commission in… Read More

Repurchase of Government Stocks

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Economic Affairs) (Budget Division) New Delhi, the February 17, 2016. NOTIFICATION Repurchase of Government Stocks F. No.4(5)-W&M/2015: The Government of India hereby notifies repurchase of (i) 7.59 per cent Government Stock 2016, (ii) 10.71 per cent Government Stock 2016, and (iii) 7.02 per cent Government Stock 2016… Read More

Amendment in notification No. 12/2012-Customs, dated 17.03.2012

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 10/2016-Customs New Delhi, the 17th February, 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 Central Government, being satisfied that it is necessary in the public interest so… Read More

Amendment in notification no. 22/2015-ST dated 6.11.2015

[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 CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 05/2016 Service Tax New Delhi, the 17th February, 2016> 28 Magha, 1937 Saka G.S.R. (E).- In exercise of the powers conferred… Read More

Notice Inviting Comments on the Draft Companies (Authorised To Registered) Amendment Rules 2016

GOVERNMENT OF INDIA Ministry of Corporate Affairs Notice Inviting Comments on the Draft Companies (Authorised To Registered) Amendment Rules 2016 Dated the 17th February, 2016 1.The draft Companies (Authorised to Registered) Amendment Rules, 2016 has been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments on the above draft. 3.… Read More

Notice Inviting Comments on the Draft Companies (Incorporation) Second Amendment Rules 2016

GOVERNMENT OF INDIA Ministry of Corporate Affairs Notice Inviting Comments on the Draft Companies (Incorporation) Second Amendment Rules 2016 Dated the 17th February, 2016 The draft Companies COMPANIES (Incorporation) Second AMENDMENT RULES 2016 i.e. conversion of unlimited liability company into limited liability companyhas been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments… Read More