Legal Updates - Corporate Law Reporter

MCA updates names of the newly appointed Directors, where all the directors stand vacated due to disqualification

F. No.03/73/2017/CL-II Government of India Ministry of Corporate Affairs 5th Floor ‘A’ Wing, Shastri Bhawan, New Delhi. Dated: 06.10.2017 To, The Regional Directors/Registrars of Companies Sub: – Addition of names of the newly appointed Directors in the MCA database in the Companies where all the directors stand vacated due to disqualification under section 164(2)(a) r/w 167(1) of the Companies… Read More

Framing of rules in respect of Country-by-Country reporting and furnishing of master file – comments and suggestions-reg

F. No. 370142/25/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* New Delhi, Dated 6th October, 2017 Subject: Framing of rules in respect of Country-by-Country reporting and furnishing of master file – comments and suggestions-reg. In keeping with India’s commitment to implement the recommendations of 2015 Final Report… Read More

Master Direction on Issuance and Operation of Prepaid Payment Instruments: RBI

RBI/DPSS/2017-18/58 Master Direction DPSS.CO.PD.No.1164/02.14.006/2017-18 October 11, 2017 All Prepaid Payment Instrument Issuers, System Providers and System Participants Dear Sir /… Read More

IBBI invites public comments on draft rules of Insolvency Resolution Process for Individuals and Firms by 31.10.2017

Insolvency and Bankruptcy Board of India 9 th October, 2017 INVITATION OF PUBLIC COMMENTS IBBI invites public comments on: (i) draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations,… Read More

DGFT amends para 5.25 of HBP 2015-20 of the Handbook of procedures of FTP 2015-20

(To be Published in the Gazette of India Extraordinary Part I Section I) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Public Notice No. 29/2015-20 New Delhi, Dated 9th October, 2017 Subject: Amendment in para 5.25 of HBP 2015-20 of the Handbook of Procedures (HBP)… Read More

Procedure for export of spices to the European Union countries: DGFT

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Notification No 32/2015-20 New Delhi, Dated : 4th October, 2017 Subject: Procedure for export of spices to the European Union countries. S.O.(E) – In exercise of the powers conferred by Section 3 of the Foreign Trade (Development &… Read More

Govt. imposes anti-dumping duty on the imports of ” Wire Rod of Alloy or Non- Alloy Steel ” from China PR

[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. 48 /2017-Customs (ADD) New Delhi, the 9 th October, 2017 G.S.R. (E). Whereas, in the matter of “Wire Rod of Alloy or Non-Alloy Steel” (hereinafter referred to as the… Read More

Govt. continues imposition of anti-dumping duty on imports of “Melamine” from EU, Iran, Indonesia and Japan

[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.47/2017-Customs (ADD) New Delhi, the 6th October, 2017 G.S.R.-(E). -Whereas, the designated authority vide initiation notification No. 7/14/2017- DGAD, dated the 22th September, 2017, published in the Gazette of India,… Read More

Exchange Rate of Foreign Currency Notified w.e.f 06.10.2017

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.90/2017-CUSTOMS (N.T.), dated 21st September, 2017, except as respects things done or omitted to be… Read More

Govt. withdraws notification covering Gems & Jewellery dealers under PMLA

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 6th October, 2017 G.S.R. 1223(E).—In exercise of powers conferred by sub-clause (iv) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby rescinds the notification No. 4/2017, dated the 23rd August, 2017,… Read More

IBBI notifies the IBBI (Information Utilities) (Amendment) Regulations, 2017

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA PRESS RELEASE 29th September, 2017 IBBI notifies the IBBI (Information Utilities) (Amendment) Regulations, 2017 IBBI had notified the IBBI (Information Utilities) Regulations, 2017 on 31st March, 2017. These regulations provided that ordinarily a person should not hold more than 10% of paid up equity share capital or voting power… Read More

RBI circular on Maintenance of SLR and holdings of SLR in HTM category

RBI/2017-18/70 DBR.No.Ret.BC.90/12.02.001/2017-18 October 4, 2017 All Commercial Banks, Primary (Urban) Co-operative Banks (UCBs) State and Central Co-operative Banks (StCBs/CCBs) Madam/Dear Sir, Section 24 and Section 56 of the Banking Regulation Act, 1949 – Maintenance of SLR and holdings of SLR in HTM category Please refer to our circulars DBR.No.BP.BC.65/21.04.141/2015-16 dated December 10, 2015 and DBR.No.Ret.BC.71/12.01.001/2016-17 dated June 7,… Read More

Fourth Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC):RBI

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: • keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and… Read More