Legal Updates - Corporate Law Reporter

Amendment to Notification No. 46/2011-Customs dated the 1st June, 2011

[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. 68/2011-Customs New Delhi, dated the 29th July, 2011 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),… Read More

SEBI Notification on Allocation of Government debt long term limits to FIIs

CIR/IMD/FIIC/11/2011 July 29, 2011 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub: Allocation of Government debt long term limits to FIIs 1. Based on the assessment of the allocation and the utilization of the limits to FIIs for investments in debt, it has been decided to allocate the unutilized… Read More

Extension of date for filing of Balance Sheet and Profit and Loss Account in XBRL mode

General Circular 57/2011; GOI; MCA; Dated 28th July, 2011 All the Regional Directors, All the Registrar of Companies/ Official Liquidators, All Stakeholders Sub: Filing of Balance Sheet and Profit and Loss Account in extensible Business Reporting Language (XBRL) mode. The Para 3 of the Circular no. 37/2011 dated 07.06.2011 may be read as under:- "… Read More

CBEC Notification No. 69/2011- Exemption to specific goods when imported into India from 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. 69/2011-Customs New Delhi dated the 29th July, 2011 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

Program on Schedule VI (Companies Act 1956) and XBRL

Achromic Point is organizing a Business Program Changing Paradigm Schedule VI (Companies Act 1956) and Financial Reporting with our Knowledge Partner Deloitte, scheduled in the cities of New Delhi - 4th August, Bangalore - 19th August and Chennai - 26th August. The seminar would focus on the key concepts as well as the carve outs made to… Read More

Blocking of DIN consequent to non-filing of Statement of Affairs (SOA) in case of winding up

GENERAL CIRCULAR No.56 /2011; F. No. 35/6/2011/Insolvency GOI; MCA; Dated 28th July, 2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Subject: Blocking of DIN consequent to non-filing of Statement of Affairs (SOA) It has been observed that companies are not filing Statement of Affairs (SOA) in time in terms of section 454… Read More

Amendment in Customs Tariff (Determination of Origin of Goods under the Preferential Trade Agreement between the Governments of Member States of (ASEAN) and the Republic of India) Rules, 2009

[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) (Central Board of Excise and Customs) New Delhi, the 28th July, 2011 6 Sravana, 1933 (SAKA) Notification No. 52/2011-Customs (N.T.) G.S.R. ¦ (E) In exercise of the powers conferred by sub-section (1)… Read More

Corrigendum to Gen Circular No. 54/2011 – CS & CWA in practice can also verify the docs for OL

GENERAL CIRCULAR NO. 58/2011; GOI; MCA; Dated August, 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Corrigendum to General Circular No. 54/2011. In view of the representations from professional Institutes, it has been decided to amend Para (c) the Circular No. 54/2011 dated 26th July, 2011. Para (c) of the said Circular may… Read More

MCA- Master Circular on Prosecution of Directors

Master Circular No. 1/2011; No.3/57/2011/CL- II Government of India; Ministry of Corporate Affairs; Dated 29th July, 2011 All Regional Directors, All Registrars of Companies, All Official Liquidators. Sub: Master Circular on Prosecution of Directors Regarding The question of treating a person as an officer in default by ROCs when prosecutions are launched against a company… Read More

Procedure of Shifting of Registered Office From one State to Another State Simplified

In order to simplify the procedures and cut timelines, the Ministry has decided to notify section 8 of the Companies (Second Amendment) Act, 2002 (1) of 2003 thereby the work relating to confirmation of shifting of registered office from one state to another state and consequent alteration to Memorandum of Association of the company under… Read More

Notification No.66 /2011- Reg. Imposion of anti-dumping duty on Poly Vinyl Chloride Paste Resin

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.66 /2011-Customs New Delhi, 26th July, 2011 G.S.R. (E). - Whereas in the matter of imports of Poly Vinyl Chloride Paste Resin (hereinafter referred to as the subject goods), falling under sub- heading 3904 22 10 of the First Schedule to the Customs Tariff Act, 1975… Read More

Notice shall be issued means that the notice should go out of the hands of the AO -Gujarat HC

Kanubhai M. Patel HUF vs. Hiren Bhatt (Gujarat High Court) Brief Facts: In respect of AY 2003-04, the AO issued a notice u/s 148 dated 31.3.2010. However, the notice was given by the AO to the post office for dispatch to the assessee on 7.4.2010 and it was delivered to the assessee on 8.4.2010. The assessee filed a… Read More

CBDT Tax Arrears Recovery Strategy For FY 2011-12

Collection Strategy for FY 2011-12 - Chairman CBDT statement I reviewed the arrears position yesterday in the context of our strategy to meet the collection target. On assessing the potential for recovery in different types of arrears categorized in column 9 of CAP I, I find that concerted efforts in certain categories may expedite cash collection. I… Read More