Legal Updates - Corporate Law Reporter

SEBI circular on disclosure requirements for Green Debt Securities

A Debt Security shall be considered as Green or „Green Debt Securities‟, if the funds raised through issuance of the debt securities are to be utilised for project(s) and/or asset(s) for Renewable and sustainable energy, Clean transportation, Sustainable water management, Climate change adaptation, Sustainable waste management, Biodiversity conservation or any other category as may be specified by Board. Circular CIR/IMD/DF/51/2017 … Read More

Introduction of Legal Entity Identifier for OTC derivatives markets

The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction for better risk management post the Global Financial Crisis. It has been decided to implement the LEI system for all participants in the Over-the-Counter (OTC) markets, in a phased manner. RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17 June 01, 2017… Read More

CBDT extends the date of furnishing of SFT till 30 June 2017

F.No.279/Misc./M-63/2017-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 31st May 2017 Order Under Section 119 of the Income-tax Act, 1961 The last date for furnishing the statement of financial transactions under Rule 114E (5) of the Income Tax Rules, 1962, (the Rules) read with sub-section (1)… Read More

Notification on procedure for acceptance of SFT:CBDT

DFIT(S)-ADG(S)-2/e-filingnotification/106/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 7 of 2017 New Delhi, 30th May 2017 Procedure for Acceptance of Statement of Financial Transaction from Sub-Registrar Office and Post Offices (SFT) as per section 285BA of Income-Tax Acts, 1961 read with Rule 114E… Read More

Exemption of TDS for entities exempted under Section 10 of IT Act

CIRCULAR No. 18/2017 F.No.385/01/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central board of Direct Taxes North Block, New Delhi 29th May 2017 Subject: Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-Tax Act, 1961- Exemption thereof. The Central Board of Direct… Read More

Clarification by MCA regarding due date of transfer of shares to IEPF Authority

General Circular No.06/2017 No.11/06/2017-IEPF Government of India Ministry of Corporate Affairs 5th Floor, “A” Wing, Shastri Bhawan, Dr.R.P. Road New Delhi- 110001 Dated: 29.05.2017 To All Stakeholders, Nodal officer’s (IEPF) of Concerned Companies All Regional Director’s & Registrar of Companies of Min of Corp. Affairs Subject: Clarification regarding due date of transfer of shares to… Read More

Draft Companies (Registered Valuers and Valuation) Rules, 2017

The draft Companies (Registered Valuers and Valuation) Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments. The Ministry is into process of inviting suggestions for such Rules. As per the draft, the Rule will come into force with effect from 15th July, 2017. The complete content of the Rules can be… Read More

Ministry inviting comments on the draft Companies (Registered Valuers and Valuation) Rules, 2017

Ministry of Corporate Affairs NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (REGISTERED VALUERS AND VALUATION) RULES, 2017 Dated: 26th May, 2017 The draft Companies (Registered Valuers and Valuation) Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments. Suggestions/ comments on the draft rules along with justifications in brief may be sent… Read More

SPICe Forms revised on MCA Portal w.e.f 20 May, 2017

MCA has recently revised SPICe forms. Stakeholders are advised to check the latest version before filing. Refer the Company Form Download link for latest version of SPICe Forms- http://www.mca.gov.in/MinistryV2/companyformsdownload.html Read More

Limited Liability Partnership (Amendment) Rules, 2017- Amendment in Rule 37

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 16th May, 2017. G.S.R (E)…… -In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership… Read More

Notification of Draft Amendment Rules of Maternity Benefit (Mines and Circus) Rules

MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 18th May, 2017 G.S.R. 483(E).—The following draft of certain rules further to amend the Maternity Benefit (Mines and Circus) Rules, 1963, which the Central Government proposes to make in exercise of the powers conferred by section 28 of the Maternity Benefit Act, 1961 (53 of… Read More

MCA withdraws its Circular regarding Transfer of Shares to IEPF Authority

MCA vide Circular no. 05/2017 dated 16.05.2017 withdraws Circular no. 03/2017 dated 27.04.2017 regarding Transfer of Shares to IEPF Authority. The Subject matter of the said circular stands withdrawn with immediate effect. Fresh instructions on the matter will be issued in due course of time. Refer the exact content of the Circular as per the following… Read More

Last Date of Acceptance of Deposits without deposit insurance contract extended till the 31st March, 2018

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India, Ministry of Corporate Affairs Notification New Delhi, dated, the 11th May, 2017 G.S.R. (E)…….. - ln exercise of the powers conferred by sections 73 and 76 read with sub- section (1) and sub-section (2) of… Read More