Legal Updates - Corporate Law Reporter

MCA commences Section 20 of Companies (Amendment) Act, 2017 w.e.f. 5 July 2018

Government of India Ministry of Corporate Affairs Notification New Delhi, the 5th July, 2018 S.D. (E).- In exercise of the powers conferred by subsection (2) of section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the 5th July, 2018 as the date on which the provisions of Section… Read More

MCA to notify Companies (Registration of Charges) Amendment Rules, 2018

Governement of India Minsitry fo Corporate Affairs Notification New Delhi, dated , 05.07.2018 G.S.R. ......(E).-In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Registration of Charges) Rules, 2014, namely:-… Read More

Companies (Authorised to Register) Second Amendment Rules, 2018 to be effetive from 15 August

Governement of India Minsitry fo Corporate Affairs Notification New Delhi, dated , 05.07.2018 G.S.R.___(E).- In the excercise of the powers conferred by sub-sections (1) and (2) of Section 469 of the companies Act , 2013(18 of 2013), the central governement hereby makes the following rules, further to amend the Companies (Authorised to Register) Rules, 2014,… Read More

MCA notifies Companies (Appointmnent and Qualification of Directors) fourth Amendment Rules, 2018 w.e.f. 10 July

Governement of India Minsitry fo Corporate Affairs Notification New Delhi, dated , 05.07.2018 G.S.R. (E).-In exercise of the powers conferred under second proviso to sub-section (1), sub-section (4), clause(f) of sub-section (6) of section 149, sub-section (3) and (4) of section 150, section 151, sub-section (5) of section 152, section 153, section 154, section 157,… Read More

Companies (Acceptance of Deposits) Amendment Rules, 2018 effective from 15 August 2018

Governement of India Minsitry fo Corporate Affairs Notification New Delhi, dated , 05.07.2018, G.S.R.___(E):- In excercise of the powers conferred by section 73 and section 74 read wth sub-section(1) and sub-section (2) of section 469 of the Companies Act, 2013(18 of 2013), the Central Government in consultation with the Reserve Bank of India, hereby makes … Read More

CBIC notifies CGST(Seventh Amendment) Rules, 2018 retrospectively w.e.f.12 June 2018

MINISTRY OF FINANCE (Department of Revenue) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 6th July, 2018 No. 29/2018 – Central Tax G.S.R. 611(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules… Read More

SEBI releases circular on Review of Adjustment of corporate actions for Stock Options

CIRCULAR CIR/MRD/DoP-1/P/00108/2018 July 5, 2018 To All Stock Exchanges Dear Sir/Madam, Sub: Review of Adjustment of corporate actions for Stock Options. 1. SEBI, vide Circular No. SMDRP/DC/CIR- 8/01 dated June 21, 2001, prescribed a framework for adjustment of corporate actions for stock option contracts. Further, SEBI, vide Circular No. SMDRP/DC/CIR-15/02 dated December 18, 2002, set… Read More

SEBI release master circular on Anti-Money Laundering Standards and Combating the Financing of Terrorism under PMLA

MASTER CIRCULAR SEBI/ HO/ MIRSD/ DOS3/ CIR/ P/ 2018/ 104 July 04, 2018 To, All Intermediaries registered with SEBI under Section 12 of the Securities and Exchange Board of India Act, 1992. (Through the stock exchanges for stock brokers and sub brokers, depositories for depository participants, Association of Mutual Funds in India (AMFI) for Asset… Read More

SEBI circular on Overseas Investment by Alternative Investment Funds (AIFs) / Venture Capital Funds (VCFs)

Circular SEBI/HO/IMD/DF1/CIR/P/2018/103/2018 July 3, 2018 All Alternative Investment Funds, All Venture Capital Funds (registered under erstwhile SEBI (Venture Capital Funds) Regulations, 1996) Dear Sir / Madam, Subject : Overseas Investment by Alternative Investment Funds (AIFs) / Venture Capital Funds (VCFs). 1. SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) were notified on May 21, 2012… Read More

IBBI releases model timelines of corporate Insolvency resolution process

Insolvency and Bankruptcy Board of India PRESS RELEASE 4 th July, 2018 IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations,… Read More

Annual KYC of Directors to be made mandatory

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form… Read More

RBI releases Financial Stability Report (FSR) June 2018

The Reserve Bank of India today released the Financial Stability Report (FSR), 17th in the series. The FSR reflects the overall assessment of the stability of India’s financial system and its resilience to risks emanating from global and domestic factors. The Report also discusses issues relating to developments in and regulation of the financial sector. Overall… Read More

RBI releases draft guidelines on constituting BoM for Primary (Urban) Cooperative Banks

The Reserve Bank of India today released draft guidelines on constituting Board of Management (BoM) for Primary (Urban) Cooperative Banks (UCBs). The guidelines propose that UCBs may constitute a BoM, in addition to the Board of Directors (BoD). It may be recalled that the Expert Committee on licensing of new Urban Cooperative Banks (2010) set up under… Read More