Legal Updates - Corporate Law Reporter

Post Office (Monthly Income Account) Rules amended vide NOT. dt. 30 June 2017

NOTIFICATION New Delhi, the 30th June, 2017 G.S.R.858 (E).– In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office (Monthly Income Account) Rules, 1987, namely:— 1. (1) These rules may be called… Read More

Central Government amends Senior Citizen Savings Scheme Rules, 2017

NOTIFICATION New Delhi, the 30th June, 2017 G.S.R.857(E).—In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Senior Citizens Savings Scheme Rules, 2004, namely:— 1. (1) These rules may be called the Senior Citizen… Read More

Govt. amends Post Office Recurring Deposit Rules, 2016

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 30th June, 2017 G.S.R. 856(E).—In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:- 1. (1)… Read More

GOI advises Interest rates for Small Savings Schemes for Q2

RBI/2017-18/22 DGBA.GBD. 69/15.02.005/2017-18 July 13, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GAD.2618/15.02.005/2016-17 dated April 6, 2017 on the above subject. The Government of India, had vide their Office… Read More

RBI clarifies Nomination of Non-Executive Chairman to Audit Committee

RBI/2017-18/20 DBS.ARS.BC.01/08.91.020/2017-18 July 13, 2017 The Chief Executives All Indian Commercial Banks Dear Sir/Madam, Audit Committee of the Board of Directors – Nomination of Non-Executive Chairman Please refer to Para 3 (ii) of our circular dated September 26, 1995 on “Audit Committee of the Board of Directors - Reconstitution” and Para (ii) of our circular… Read More

MCA amends Companies (Meetings of Board and its Powers) Rules,2014

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 5 July, 2017 G.S.R. -(E). - In exercise of the powers conferred under sections 173, 175,777,178,179,784,185,186,787,188, 189 and section 191 read with section 469 of the Companies Act,2013 (18… Read More

MCA issues corrigendum to NOT. 583(E), dt. 13th June,2017

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS CORRIGENDUM New Delhi, the 13 July , 2017 S.O. ................... (E). - In the notification of the Government of India, in the Ministry of Corporate Affairs, published in the Gazette of India, Extraordinary,… Read More

RBI illustrates recording of details of transactions in passbook by Co-operative Banks

RBI/2017-18/24 DCBR.BPD.(PCB/RCB).Cir.No.02/12.05.001/2017-18 July 13, 2017 The Chief Executive Officer All Primary (Urban) Co-operative Banks/ All State Co-operative Banks/ All District Central Co-operative Banks Dear Sir/Madam, Recording of Details of Transactions in Passbook/Statement of Account by Co-operative Banks Please refer to our circular UBD.CO.BPD.(PCB).No.18/12.05.001/2010-11 dated October 26, 2010 and para 4.6.3 of Annex to our circular RPCD.CO.RCB.BC.No.36/07.51.010/2014-15 dated October… Read More

CBDT amends rules for determination of Fair Market Value for unquoted shares

MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION New Delhi, the 12th July, 2017 INCOME-TAX G.S.R. 865(E).—In exercise of the powers conferred by section 50CA and sub-section (2) of section 56 read with section 295 of the Income-tax Act, 1961 ( 43 of 1961), the Central Board of Direct Taxes hereby… Read More

“GST Rates Finder” to be soon available on ios platform:PIB

Mobile app “GST Rates Finder” which is available on android platform to be soon available on ios platform as well. CBEC Mobile app “GST Rates Finder” which is available on android platform and soon will be available on ios platform as well. To install "GST Rate Finder", user of Android mobile has to first open… Read More

Govt. approves Creation of the DGARM – Charter of functions

F. No. A-11013/19/2017-Ad.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs *** HUDCO Vishala Building Bhikaji Cama Place. New Delhi-110066. Dated 11th July, 2017 OFFICE MEMORANDUM Subject:-Creation of the Directorate General of Analytics and Risk Management (DGARM)- Charter of functions – regarding. The undersigned is directed to say that it has been decided with the approval of… Read More

MOS (Finance & Corporate Affairs) releases a Compendium of CSR: Best Practices in India

The Union Minister of State (Finance & Corporate Affairs) Shri Arjun Ram Meghwal: India has had a long history of social responsibility; Underlined the need for introducing innovations to be able to effectively contribute to social development and nation building through CSR projects. The Union Minister of State for Finance and Corporate Affairs, Shri Arjun Ram… Read More

SEBI amends Investor Grievance Redressal System and Arbitration Mechanism

CIRCULAR CIR/CDMRD/DEICE/CIR/P/2017/7 7 July 11, 2017 To, The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir/Madam, Subject: Amendment to Investor Grievance Redressal System and Arbitration Mechanism 1. SEBI, vide its Circular No. CIR/CDMRD/DIECE/02/2015 dated November 16, 2015, mandated Investor Grievance Redressal System and Arbitration Mechanism to National Commodity Derivatives Exchanges (herein… Read More